What Is A Sales Funnel? Simplifying A Complex Subject

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As many as 50% of leads aren't ready to buy when they first inquire about your business, product or service. A prospect visits your website or content piece, then becomes a lead after taking some specific trigger action (email capture, form fill, etc.). There are then two levels of lead qualification, with the standard a bit higher for sales than marketing.

According to the traditional sales funnel definition, it is the process where the prospect enters as a lead moving forward turning into a qualified opportunity or a customer. All the while, you're raising the competence of your readers to a point where the products or services you have to offer are more useful to them.

Take a look at the diagram below to see how marketing and sales ownership of the funnel has changed. There's not a lot of content in the course of ordering, but that's the whole point—they've taken concision (of both words and process) to a whole new level, and we'd be shocked if their sales didn't reflect that.

As you can see, the answers to these questions will lead you to the possible sales process. The purpose of the conversion funnel is to warm up the customer to buying through a steady stream of content with waypoints - micro-conversions. This content type, though, isn't appropriate for prospects still in the early stages of Basecamp's marketing funnel.

The term sales funnel refers to a visual representation of all stages a customer is going through during a sales process - from awareness to action (or purchase). The solution:*This is where you continue to support your other sales funnel efforts by delivering relevant news, case studies and suggestions that reinforce what a great deal or decision the customer made.

At this point, it would be important to understand that engaging with leads will incur cost, which include cost of engagement, conversion and opportunity marketing. I recommend four main and super simple sales funnel stages to become successful. Their actual lead generation funnel may differ slightly from what is presented here, but for general intents and purposes the following describes the basic and most common stages involved in the sales funnel.

It should highlight the key stages they move through and uncover any friction points in the process. Make it simple for customers to find your product or service and optimize your checkout page by using live chat, offer free shipping, etc. The funnel has five stages: lead, prospect, qualified prospect, committed and transacted.
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