A Sales Funnel
Ahsan Bashir
Technopreneur, US Federal Contracting Specialist, Technology Consultant, Business Development, Federal Contracting Consultant with 25+ years of executive-level experience.
Your sales funnel exists whether you know it or not. If you’re aware of the funnel, however, you have much more influence over it.
Each of the sales funnel stages has an impact on consumer behavior, and you need to know them intimately.
The typical sales funnel is divided into multiple steps, which differ depending on the particular sales model. One of the most common ways of dividing a sales funnel possesses seven phases including:
Awareness Phase – in which prospects become aware of the existence of a solution.
Interest Phase – in which prospects demonstrate interest in a product by conducting product research.
Evaluation Phase – in which prospects or prospect companies examine competitors’ solutions as they inch toward a final buying decision.
Decision Phase – In which a final decision is reached and negotiation begins.
Purchase Phase – in which goods or services are purchased.
Reevaluation Phase – in B2B sales it’s common for offerings to involve contracts that need to be renewed. As a customer becomes familiar with an offering, and especially as a contract draws to a close, a customer will enter a reevaluation phase during which they’ll decide whether or not to renew their contract.
Repurchase Phase – in which a customer repurchases a product or service.
