A sales funnel is a concept that many businesses use and it is a measured database and a visual representation of how many potential customers are converted into paying customers. There are four different stages of this process which are awareness, interest, decision and action. A sales pipeline is a bit different as that concept looks at all the stages each prospect will go through towards becoming a customer from the sellers perspective. A sales funnel is much larger and a more quantifiable value.
Key Takeaways:
- A sales funnel is divided into four different stages which are awareness, interest, decision and action.
- A sales pipeline will function in different stages as well such as prospect generation, qualifications, meetings, proposals and closing.
- A sales pipeline is an overall look at the stages whereas a sales funnel is a larger representation of how many leads become paying customers.
“A lack of sales direction can lead to a woefully high amount of your qualified leads fizzling out. They’ll seek out the answer to their issue elsewhere. If your business has the answer, why let that happen?”
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