The purpose of the sales funnel is to drive sales and refine your sales strategy. But it also assists finance and operations to plan—if they know what is coming down the pipeline, they can scale up or down to adjust.
The basic four steps are Qualify, Awareness, Interest and Close. There can be many tasks under each step. Each industry and each company organizes this slightly differently.
Develop your own path. The premise: you need more at the top of the funnel (Qualify and Awareness stages) than at the bottom (Interest and Close) at all times.
Topic Objective: Understand the various parts of a sales funnel.
Topic Outcome: Identify where and how to improve conversion rates.