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Sales Funnels
What is a sales funnel
A sales funnel is the marketing term for the journey potential customers go through on the way to purchase. There are several steps to a sales funnel, usually known as the top, middle, and bottom of the funnel, although these steps may vary depending on a company's sales model. Any business owner knows the pain of just missing a sale. After weeks of pitches and demos, chatter and charm, the prospect drops out of the sales funnel without buying.
Why is the sales funnel important
A sales funnel helps you understand what potential customers are thinking and doing at each stage of the purchasing journey. These insights allow you to invest in the right marketing activities and channels, create the most relevant messaging during each stage and turn more prospects into paying customers.
Find the cracks in your sales funnel stages
Now that you’ve learned about building a sales funnel, we start to see why sales funnel management matters. Even very good prospects can leak out of the sales funnel along the way if they're not nurtured carefully. The best way to prevent that loss is to have a clear idea of the steps in your sales process—and help in making those steps happen.