Difference between revisions of "Sales Funnel"
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| − | 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 | + | A '''sales funnel''' is the marketing term for the journey that 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.<ref>[https://keap.com/product/sales-funnel Definition - What is a Sales Funnel]</ref> |
The typical sales funnel is divided into multiple steps, which differ depending on the particular sales model. One of the most common ways of dividing a sales funnel possesses seven phases including: | The typical sales funnel is divided into multiple steps, which differ depending on the particular sales model. One of the most common ways of dividing a sales funnel possesses seven phases including: | ||
*Awareness Phase – in which prospects become aware of the existence of a solution. | *Awareness Phase – in which prospects become aware of the existence of a solution. | ||
| − | *Interest Phase – in which prospects demonstrate interest in a | + | *Interest Phase – in which prospects demonstrate interest in a product by conducting product research. |
| − | * | + | *Evaluation Phase – in which prospects or prospect companies examine competitors’ solutions as they inch toward a final buying decision. |
*Decision Phase – In which a final decision is reached and negotiation begins. | *Decision Phase – In which a final decision is reached and negotiation begins. | ||
*Purchase Phase – in which goods or services are purchased. | *Purchase Phase – in which goods or services are purchased. | ||
| − | *Reevaluation Phase – in B2B sales it’s common for offerings to involve contracts that need to be renewed. As a | + | *Reevaluation Phase – in B2B sales it’s common for offerings to involve contracts that need to be renewed. As a customer becomes familiar with an offering, and especially as a contract draws to a close, a customer will enter a reevaluation phase during which they’ll decide whether or not to renew their contract. |
| − | *Repurchase Phase – in which a customer repurchases a product or | + | *Repurchase Phase – in which a customer repurchases a product or service.<ref>[https://www.ringdna.com/inside-sales-glossary/what-is-the-sales-funnel The Steps in a Sales Funnel]</ref> |
| − | glossary/what-is-the-sales-funnel | ||
Latest revision as of 20:00, 19 April 2023
A sales funnel is the marketing term for the journey that 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.[1]
The typical sales funnel is divided into multiple steps, which differ depending on the particular sales model. One of the most common ways of dividing a sales funnel possesses seven phases including:
- Awareness Phase – in which prospects become aware of the existence of a solution.
- Interest Phase – in which prospects demonstrate interest in a product by conducting product research.
- Evaluation Phase – in which prospects or prospect companies examine competitors’ solutions as they inch toward a final buying decision.
- Decision Phase – In which a final decision is reached and negotiation begins.
- Purchase Phase – in which goods or services are purchased.
- Reevaluation Phase – in B2B sales it’s common for offerings to involve contracts that need to be renewed. As a customer becomes familiar with an offering, and especially as a contract draws to a close, a customer will enter a reevaluation phase during which they’ll decide whether or not to renew their contract.
- Repurchase Phase – in which a customer repurchases a product or service.[2]
source: UpLead
See Also