The marketing sales funnel (also known as a revenue funnel or a sales process) references the procedure that leads customers from product obscurity to making a product purchase from a company. Divided into several steps, the marketing sales funnel outlines every stage of the purchasing process that a consumer will go through in their buying journey. Sales funnels can be optimized for different markets and different outcomes.
Generally speaking, the marketing sales funnel has four specific stages that consumers will hit before they make a purchase: Awareness, Interest, Decision, and Action.
Awareness Stage: The awareness stage is general knowledge and discovery. A buyer might be looking for the existence of a solution they may be experiencing.
Interest Stage: Customers want to know more about a product, demonstrating interest, and beginning the research process into the product. This also means they’re looking at competitors to compare and contrast before coming to a conclusion.
Decision Stage: This phase is when a customer is interested in the products and have settled on the idea of a purchase, they just need to justify the cost with their need for the product.
Action Stage: The customer makes the decision and purchases a product.
Learn more about the marketing sales funnel from the infographic below.