What is a sales funnel?


 

A sales funnel is the process prospects go through to become a customer. Each stage of the funnel takes the buyer one step closer to making a purchase. A well-planned sales funnel will define the actions your business needs to take to push prospects to the next stage.

The buying process is described as a funnel because it starts by attracting many people, before narrowing them down until you are left only with those who buy your product.

This drop off is inevitable — you will never be able to convert everyone. However, effective funnels will turn the highest number of people possible into buyers. Businesses should continually optimise and experiment with their funnel to make it more effective.

68% of businesses fail to identify and measure their sales funnels, which results in 79% of leads never converting into sales.1

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Wrapping up

A sales funnel has many benefits for businesses that use them. They define sales processes and allow sales teams to optimise each step of the journey. This can ultimately result in more sales and profit for your business.

Hopefully, this article will have shown you how to build a sales funnel. If you need more information, we have plenty of resources that can help. Check them out below:

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