The purpose of the sales funnel is to drive sales and refine your sales strategy. But it also assists with finance and operations planning —if the company knows what is coming down the pipeline, it can scale production up or down to adjust.
The sales funnel’s basic four stages are Qualify, Awareness, Interest, and Close. Salespeople can have many tasks to perform in each stage as they move customers to the next stage. Each industry and each company organizes its sales process slightly differently.
Develop your own path, but always remember: You need more customers in the stages at the top of the funnel (Qualify and Awareness ) than the ones at the bottom (Interest and Close) at all times.
Topic Objective: To understand the various parts of a sales funnel.
Topic Outcome: Knowing where and how in your funnel to improve conversion rates.