Sales funnels and sales pipelines are funny terms when you think about them. What exactly are they and why are they important to your business?
What is a Sales Funnel?
Your sales funnel is a graphical way of thinking about your sales process. Imagine a funnel upside down and broken up into distinct layers. At the top of your funnel you will have all of your new opportunities and as it gets closer to the bottom, you will have actual converted customers. As your prospects travel down your sales funnel system, they pass each layer and get closer to becoming a customer.
At different stages in your funnel, some of your prospects will drop out – that’s why the funnel gets smaller the further your prospects go in your sales process.
While sales funnels have been around forever, the company that really coined the term and put “funnels” on the map is ClickFunnels. ClickFunnels started in 2014 and is arguably the #1 choice for helping small businesses build and implement sales funnels.
ClickFunnels and other Automated CRM sales funnel software systems like Pipedrive are excellent ways to formalize your deals and opportunities processes.
Sales Funnel vs Sales Pipeline
A sales pipeline is similar to a sales funnel, but is usually represented as a horizontal timeline rather than in a funnel view. On the left end, your prospects will enter your sales pipeline and go step by step through your sales process. Each step along the way they get closer to the right side of your sales pipeline where they will eventually, and hopefully, become a customer.
In the AllClients CRM the Sales Funnel and Sales Pipeline functions are handled by our Deals Tracking system. The deals module will track each and every opportunity that comes into your business. You can see it visually in stages as these opportunities progress through your pipeline.
Your deals screens in AllClients are completely customizable to match how you do business. Then at any time you can see your deals in both a sales funnel view and a sales pipeline view. You get to decide what the layers and steps are in your sales process, and all the details that should be included as you work your deals.
Seeing is Understanding
AllClients understands that seeing your prospective customers in both a sales pipeline view and a sales funnel view make a lot of sense where with raw data, sometimes you can get lost.