what is a sales funnel
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1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
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A sales funnel is a visual representation of the customer journey, illustrating the stages a potential buyer goes through before making a purchase. It typically includes four key phases:
Awareness: The prospect becomes aware of your product or service through marketing efforts like ads, social media, or content.
Interest: They engage further by visiting your website, signing up for newsletters, or exploring options.
Decision: The prospect compares alternatives and considers purchasing, often influenced by testimonials, discounts, or demos.
Action: They complete the transaction, becoming a customer.
The funnel narrows at each stage, reflecting that not all leads convert. For example, 100 people might see an ad (awareness), 50 visit the site (interest), 10 inquire (decision), and 2 buy (action). Businesses optimize each stage to improve conversion rates, using strategies like targeted ads, email nurturing, or limited-time offers.
Introduced in the late 19th century, the concept evolved with digital tools, enabling precise tracking and automation. It’s crucial for aligning marketing and sales efforts, identifying bottlenecks, and maximizing revenue.