Data and Audience
A sales funnel is a visual representation of the journey a consumer takes from being a prospect to the act of making a purchase. Once a consumer is identified as a “lead” they are entered into the sales funnel and begin going through “phases” such as awareness, interest, evaluation, decision. As that consumer is nurtured and courted by a company or brand, they move further down in the sales funnel until they become a customer. It’s a clear way to track the status of a lead or prospective customer and where they are in the sales journey. Act.com reports that 68% of businesses fail to identify and measure their sales funnels, which results in 79% of leads never converting into sales.