Funnel

What is a Funnel?

A sales funnel (or marketing funnel) is a visual representation of the journey a potential customer goes through, from first becoming aware of your brand to making a purchase. The funnel is wide at the top (awareness), where there are many potential customers, and gets narrower as you move down through the stages of interest, consideration, and decision. The goal is to guide as many people as possible through the funnel to become paying customers. Understanding your funnel helps you identify where you might be losing potential customers and where to focus your marketing and sales efforts.

Related Terms

Field Sales

What is Field Sales? Field sales, also known as outside sales, refers to a sales strategy where sales representatives meet with potential customers in person, outside of the office. This is the traditional model of a salesperson traveling to a client's location for meetings, demos, and negotiations

First Touch Attribution

What is a First-Touch Attribution? First-touch attribution is a model for giving credit for a sale. In this model, 100% of the credit for a conversion goes to the very first marketing touchpoint that a customer interacted with. For example, if a customer first discovers your brand by clicking on a

Fixed Fee

What is Fixed Fee? A fixed fee is a set price for a product or service that doesn't change. Unlike a commission, which is a percentage of a sale, a fixed fee is a predetermined amount. For example, a consulting partner might charge a fixed fee for a specific project, like implementing a piece of so

Footprint

What is Footprint? In business, a footprint usually refers to a company's physical presence or market reach in a particular geographic area. A company with a large footprint has many offices, stores, or a significant customer base in that region. When recruiting partners, a vendor will often look f

Forecasting

What is Forecasting? Sales forecasting is the process of predicting future sales revenue over a specific period, like a month, quarter, or year. It's a crucial activity for any business, as it informs decisions about budgeting, hiring, and resource allocation. Accurate forecasting is both an art an

Franchise

What is Franchise? A franchise is a type of business partnership where an established brand (the franchisor) grants a license to another individual or company (the franchisee) to operate a business using their brand name, business model, and processes. The franchisee pays an initial fee and ongoin