What is a sales funnel?

What is a sales funnel?

The definition of the sales funnel (also known as a revenue funnel or sales process) refers to the buying process that companies lead costumers through when purchasing products. A sales funnel is divided into several steps, which differ depending on the particular sales model. One common sales process is divided into seven phases including:

•Awareness Phase - in which prospects become aware of the existence of a solution

•Interest Phase - in which prospects demonstrate an interest in a product by conduction product research.

•Decision Phase - in which a final decision is reached and negotiation begins.

•Purchase Phase - the prospective customer will finally make a purchase and will provide you a sales.

•Referal Phase - in which a customer will refer you to their friends, family or anyone that will be looking for the same product that you are offering.