They show great interest in your goods as they feel that your products can help them solve their daily problems or dilemmas. InterestĪt this stage, the prospects are still actively searching for the products and services that can help solve their problems. Thus, you will need to develop a strong marketing strategy to improve on your product's awareness.Ī few marketing strategies that businesses can initiate to increase their brand awareness, such as using content marketing, paid advertisement, search engine optimization, using landing pages, social media marketing, webinars, direct mails, and etc.
It doesn't matter how useful your product can be you still need to get the word out to promote your goods and services. It's one of the essential components if you wish to penetrate the competitive market. So, what does awareness in the sales funnel means?Īwareness is the strategy of business owners to promote their products and services so that it's known to the public. The sales funnel always starts with awareness.
Stated below are the six stages of sales funnel that you need to take note of: Awareness The first stage of sales funnel begins with awareness. If you wish to read more on streamlining sales processes using CRM software, you can click here to find out more. If you are a sales manager and are not aware of the sales funnel, you will need to do something about it - you can research more on sales funnel, build-up sales processes from ground-up, and educate the sales reps the company's sales processes. What Are the Stages in the Sales Funnel?īuilding a sales funnel your business is extremely important for your company's success and growth. In short, the sales funnel captures the prospects purchasing journey from the start until the end. In each stage of the funnel, unqualified prospects will be eliminated until the deal is closed. The sales funnel is typically divided into three parts top of the funnel, middle of the funnel, and bottom of the funnel (TOFU, MOFU, BOFU).Īs the name suggests, it's known as a sales funnel is due to the decreasing number of potential buyers from the top until the bottom of the funnel. The sales funnel is a visual representation of the buyer's initial purchasing journey until they purchase the goods and services, in marketing context.Īlso, the sales funnel is similarly known as the purchase funnel, customer funnel or the conversion funnel. What Is a Sales Funnel? The different stages of a sales funnel In this article, we will cover the definition, the stages involved, and the importance of having a sales funnel. Hence, the sales reps need to be dedicated to follow-up with their potential buyers to increase the chances of close deals. But, after 5th to 12th times of interaction with the prospect, a staggering 80% of sales are closed. Studies have shown that a small percentage of 2% of sales are closed after the first interaction with prospects.
Source: National Sales Executive Association However, the sales statistics shared below prove otherwise. Business owners underestimate the importance of implementing a systematic sales funnel as they might think it's a waste of time or it's irrelevant for their business. The statistics have shown us that building a sales funnel is still an underrated practice among business owners today.
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