What is the Sales Funnel?

The video explains the concept of a sales funnel, a metaphor for the sales process where the number of potential customers decreases at each stage. It outlines the stages: prospecting, qualification, diagnosing, presenting, negotiation, and commitment. The video also discusses post-sale stages like customer adoption and loyalty. The sales funnel helps in evaluating performance, predicting sales, and planning marketing strategies.

What is the primary function of a sales funnel?

• To reduce the number of prospects to active customers

• To increase the number of prospects

• To eliminate all prospects

• To confuse potential customers

Which of the following is NOT a purpose of the sales funnel?

• Increasing the number of stages

• Planning marketing strategies

• Evaluating performance at each stage

• Predicting sales volumes

What is the first stage of the sales funnel?

• Qualification

• Negotiation

• Commitment

• Prospecting

During which stage do prospects evaluate the solutions presented to them?

• Commitment

• Presenting

• Qualification

• Prospecting

What happens during the negotiation stage of the sales funnel?

• Prospects are identified

• Solutions are presented

• Questions and objections are addressed

• Sales are closed

What is the final stage of the sales funnel before post-purchase activities?

• Qualification

• Negotiation

• Commitment

• Prospecting

What is account development in the context of the sales funnel?

• Evaluating marketing strategies

• Identifying new prospects

• Developing a relationship with the customer

• Closing the sale