A sales funnel is a marketing system that leads someone through a systematic process with the goal of purchasing your product or service.
The idea behind it is to turn a lead into a prospect, then a prospect into a customer, who finally becomes a repeat customer buying over and over again. Sales funnels have been around for decades, but since the introduction of a number of online marketing tools & methodologies they have become easier to scale and manage.
A Leads is anyone who is aware of your business or someone you have decided to ‘chase’ for a sale. Leads vary greatly from one another and they can be further segregated into what’s known as ‘qualified leads’ or ‘warm leads’, these are groups of people who fit a set criteria.
For example, if you’re selling golf products, a qualified lead is someone who plays golf rather than a casual sports fan who is not too enthusiastic about the sport.
A person who has either a contacted your business or is interested in what you offer. They may have signed up to your newsletter or shown interest. Prospects are interchangeable with qualified leads.
Well we don’t need to explain what a customer is too much we hope. This group can be further separated by customers who have made a single purchase to customers who are repeat buyers.