sales
Sales Funnel
The stage-by-stage path from first touch to closed deal.
Definition
The sales funnel maps the stages a prospect moves through: awareness -> interest -> consideration -> decision -> purchase. Each stage has its own conversion rate, and the funnel narrows at every step (hence 'funnel'). The point of the funnel framework is to identify the worst-converting stage and fix it before adding more leads at the top. Pouring more traffic into a broken stage just amplifies the leak.
In your business
- →Map every stage with current conversion rates
- →Find the worst-converting stage and fix it before adding traffic
- →Different segments may need separate funnels (SMB vs enterprise)