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What is a Sales Funnel? The definition of the sales funnel (also known as a revenue funnel or sales process) refers to the buying process that companies lead customers through when purchasing products. A sales funnel is divided into several steps, which differ depending on the particular sales model. One common sales process is divided into seven phases including:
The sales funnel visually describes the sales process from initial contact to final sale. It uses the metaphor of a leaky funnel, into which a seller can âdropâ sales opportunities. At some point, sales opportunities are removed from the funnel because potential customers become uninterested or you determine their lack of fit. The stages of a sales process refer to a potential customerâs degree of readiness to commit to a deal (from the sellerâs perspective).