Sales and marketing funnel play a vital role in helping businesses gain visibility and business opportunities. These funnels help businesses generate and qualify quality leads who are more likely to purchase your service or product.
If you have been looking to learn more about the differences and similarities between sales and the marketing funnel, you have arrived at the right place. This article aims to help you learn more about it.
Sales and Marketing Funnel
A survey of Hubspot says that more than 45% of marketers prioritize their sales funnel improvement. Knowing the importance of these funnel concepts, business professionals are focusing on sales and marketing funnel to develop their business. Both concepts are intended to move the customers forward in the funnel. But the difference is that the marketing funnel focus on the advertising, while the sales motive is the conversion rate.
What Is a Sales Funnel?
The sales funnel refers to a term used in the marketing industry. The term is used to describe and capture what client journey potential prospects go through, starting from lead generation to closing a sales deal. The number of stages of a sales funnel varies depending on the company’s sales model.
What Is a Marketing Funnel?
The marketing funnel refers to the concept that is used to relate to the client’s journey. The funnel is also known as the conversion funnel. The main purpose of the marketing funnel is to easily categorize major milestones along the purchase journey beginning from the awareness stage to the loyalty stage.
5 Differences Between Sales and the Marketing Funnel
Often, people make use of the terms ‘sales funnel’ and ‘marketing funnel’ interchangeably, while a few combine both together, like ‘marketing sales funnel’ or ‘sales marketing funnel’. But in reality, they are two completely different parts. Both the sales and marketing functions of an organization have their own goals, objectives, and their respective funnels support those goals.
Let’s now discuss 5 differences between sales and marketing funnels that you must be aware of.
THE MARKETING FUNNEL:
- The marketing funnel is a long-term continuous process compared to the sales funnel. The number of stages your marketing funnel can have varies depending on your target audience and your industry.
- The main goal is to market your product or service to your target audience. As a growing business, you are required to run marketing campaigns that target the right audience to help your business gain visibility and drive traffic to your website.
- Marketing funnels are helpful in building and managing your brand and business. It helps curate and offer the right content that your target audience is looking for.
- It is also helpful in creating brand awareness among your target audience about your business and the type of service or product you offer.
- Marketing funnels play a vital role in helping professionals qualify quality leads who are ready to make a purchase. These leads are qualified as sales-qualified leads.
THE SALES FUNNEL:
- The sales funnel is a short-term process when compared to a marketing funnel. The number of stages your sales funnel can have varies depending on your company’s sales model.
- The main goal is to promote sales, and close as many business deals with your potential clients as possible. You must deliver the sales pitch at the right stage of the sales funnel to help them progress to the next stage.
- The funnel is helpful in boosting the number of products and services being sold or purchased. As the sales funnel helps acquire quality leads, the number of leads who are more likely to purchase your service or product is mostly high.
- It is helpful in convincing your potential client to buy your service or product. During the process, you need to explain to them why your product or service is the best solution to their problems and pain points.
- The sales funnel is also helpful when analyzing where the potential clients are lost, and to help to retarget and reapproach them after a certain period of time.
|S. NO||MARKETING FUNNEL||SALES FUNNEL|
|1.||Helps qualify leads who are ready to make a purchase as sales-qualified leads.||Helps to know where potential clients are lost and retarget and reapproach them.|
|2.||The main focus is to market your service or product to your target audience.||The main focus is to promote sales and close deals.|
|3.||Helpful in building and managing brands.||Helpful to boost the number of services or products being sold|
|4.||Used to create brand awareness.||Convince potential clients to buy your service or product.|
|5.||Helps qualify leads who are ready to make a purchase as sales qualified leads.||Helps know where potential clients are lost and retarget and reapproach them.|
Frequently Asked Questions (FAQs)
1. What are the marketing and sales funnel stages?
The various stages of the marketing funnel are as follows:
The various stages of the sales funnel are as follows:
2. What is an example of a sales marketing funnel?
One of the best examples of a sales marketing funnel is running an excellent Facebook Ad that helps drive traffic to your website or landing page. The landing page consists of a signup form to get the prospect’s email address in exchange for an attractive lead magnet.
3. What are sales funnel concepts?
The main concept of a sales funnel is to relate to the customer’s buying journey. Sales funnels are helpful when categorizing milestones, along the buying journey starting from the very first stage, the awareness stage to the last stage, the loyalty stage. It helps in the conversion of prospects to clients or buyers, as the prospect progresses down the sales funnel.
This article should have helped you gain better clarity about sales and marketing funnels on the whole. Being aware of the differences between the sales and marketing funnel benefits you in many ways. Make sure to remember the differences between the two funnels when you develop one for your business.
If you have been looking for services that can help you boost your sales opportunities, and take your business to the next level, make sure to reach out to us to learn more about our services.