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A sales funnel is a visual representation of the customer journey, from initial awareness of a product or service, through to the decision to purchase. It is called a “funnel” because it typically starts with a large number of potential customers, and narrows down as some customers move further along in the buying process, and others drop out. The sales funnel is a useful tool for understanding and managing the customer journey, and for identifying opportunities to improve the process and increase conversions.
The elements of a sales funnel can vary depending on the specific product or service, and the target audience, but typically include the following:
- Awareness: The first stage of the sales funnel is awareness, in which the customer becomes aware of the product or service. This can happen through advertising, word of mouth, or other marketing activities.
- Interest: In the interest stage, the customer begins to learn more about the product or service, and starts to consider whether it is something they might want to purchase.
- Evaluation: In the evaluation stage, the customer compares the product or service to other options, and considers whether it is the right fit for their needs.
- Decision: The decision stage is when the customer makes the decision to purchase the product or service, or to opt for a different option.
- Purchase: The final stage of the sales funnel is the purchase, in which the customer completes the transaction and becomes a customer.