Think of a sales funnel as a device you can use to create customers. While it seems that many businesses find customers, a closer look will show you the process involved in generating sales. Simply put, a sales funnel conceptualises the process of turning prospective leads into loyal customers.
Paying attention to your funnel can improve marketing performance because it provides an ideal process for a customer’s life cycle. It guides the marketing team on the steps needed to improve a prospect’s experience—from considering the product to maintaining loyalty to the brand.
A consistent flow of leads into your pipeline keeps the sales cycle steady and reliable. In a nutshell, understanding the sales funnel can help businesses improve their relationship with customers and develop an efficient strategy to nurture prospects right through to the end of the buyer’s journey. This is where inbound and some outbound marketing techniques come into play.