Sales Funnel – What is a Sales Funnel? How is it used?

Acquiring new customers can involve a long sales process in which the customer is identifying solutions to their problem, evaluating alternatives, and coming to a conclusion as to their desire to purchase.  A sales funnel helps us visualize these processes. The stages of the funnel are defined as follows:

Awareness: A prospective customer becomes aware that a solution exists to solve their problem. This awareness may occur through a number of different marketing channels, such as a search engine, print media, or social media.

Interest: The prospective customer is conducting research to determine if the solution is suitable for solving their problem.

Evaluation: The customer is comparing feature sets and evaluating a competitor’s product offerings.

Decision/Negotiation: The customer has decided on the product or service and is now engaged in the negotiation process.

Purchasing Decision: The customer has made their purchasing decision.

In the next series of posts, we will discuss some of the different tools and strategies that can be employed to guide a prospective customer through the sales funnel and ultimately to a successful purchase decision. 

Written By Eric Hadden

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