A sales funnel visually illustrates the sales process from initial contact to final sale (conversion to paid client). It uses the metaphor of a leaky funnel that holds sales opportunities. Along the way, sales opportunities are removed from the funnel when they become uninterested or decline services.

The stages of a sales process refer to a potential customer’s degree of readiness to commit to a deal (from the seller’s perspective).  As a sales opportunity moves down the funnel, time to closing decreases and the probability of the sale occurring increases. The sales funnel metaphor enables you to analyze and manage a portfolio of sales opportunities and you can see real-time status in your Business Dashboard.

Tagging the status from Lead to Prospect to Client defines your Sales Funnel and the success of your sales team.

Changing status of leads:

• When a Lead has expressed interest and is open to further contact, change their status to Prospect.
• It may take multiple contacts to convert a Prospect to a Client. A salesperson can speed this up by creating a sense of urgency.
• When a Prospect perceives a real and immediate need for the services offered, the process of moving from Prospect to Customer is accelerated.