What is a sales funnel I hear you cry? There’s no getting around it, the world of business and marketing is full of buzzwords. New terms seem to pop up left, right, and centre, and sometimes it can be difficult to keep up. One term you might have heard of is the ‘sales funnel’ – but what exactly is a sales funnel and why should you care?
The funnel is most commonly known as a sales funnel, but can also be referred to as a marketing funnel or revenue funnel. Confusing, right? Well, the concept is actually fairly straightforward. The funnel is used to demonstrate how every new product starts with a large base of potential customers, which filters down to a smaller number of people who eventually buy.
At its simplest, the sales funnel has four main stages:
In order to generate the most sales, it’s important that you carefully craft your very own sales funnel. There are a number of ways you can do this and you need to use different techniques and technologies at different stages:
If this all seems a little overwhelming you should think about implementing a marketing automation tool to make it simpler for you. We hope we have we helped you understand the sales funnel a little better? Please let us know in the comments!
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