It is a method used in Marketing and Sales to identify the buying process a person goes through; from the moment he/she detects a need until he/she decides to buy a product or service to satisfy it. In short, it is the path that your prospects follow from the moment they get to know your company until they become a loyal customer of your brand.
The sales funnel or conversion funnel helps you identify the phases of the sales process and its main objective is the conversion of leads to customers.
It is made up of 3 stages:
TOFU (Top Up the Funnel)
MOFU (Middle of the Funnel)
BOFU (Bottom of the Funnel)
The Sales Glossary is a compendium of all the most commonly used terminology in sales strategy. Many of the concepts listed here are used when implementing a CRM system or a digital sales funnel, no matter if they are legacy systems or an online CRM. See also our blog that deals with sales techniques, marketing and sales culture.