A sales funnel will start with a large number of potential buyers at the top. This group of potential buyers is reduced to a smaller number of leads. Towards the middle of the funnel, the number of prospects decreases to a handful of opportunities and, after the decision making stage, the sales process ends with a deal won or lost.
What is a sales funnel?
A sales funnel is the model of a sales process from beginning to end, through which potential customers advance until they become customers. It is so called because of its conical shape that starts with a broad base of interested people, who filter through the different stages until only those who buy are left.
What is a sales funnel for and why should I have one?
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The sales funnel is a tool used to visualize the sales process in an organization; in this way it is possible to identify how agile the path is from the moment a potential customer learns about a product or service until he/she decides to buy it.
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It is a mechanism to visualize the obstacles that prevent a faster and simpler transaction in the commercial relationship between a person and a brand.
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It also serves to support a sales team to focus on each of the stages of the sales funnel and align the objectives between the different areas of a company.
If your company does not yet have a sales software that allows you to create sales funnels and analyze data, set goals, and create custom reports, contact us. Together with Hubspot's powerful tools we can streamline and automate many of your company's processes. Learn more details here.
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