Sales Funnel
A sales funnel represents the journey potential customers take from first awareness of a product or service to making a purchase. Typical stages include Awareness, Interest, Consideration, Intent, Evaluation, and Purchase. Each stage narrows the pool of prospects, forming a funnel shape. CRM systems track leads through funnel stages to optimize conversion at each step.
Related Hivanced Feature
CRM PipelineRelated Terms
Lead Scoring
Lead scoring is a methodology used by sales and marketing teams to assign a numerical value to each lead based on their behavior, engagement level, and demographic fit. Higher scores indicate leads more likely to convert into customers. Scoring criteria typically include email opens, website visits, form submissions, company size, and job title. This helps sales teams prioritize outreach and focus on the most promising prospects.
Conversion Rate
Conversion rate is the percentage of visitors or leads who complete a desired action, such as making a purchase, filling out a form, or subscribing to a newsletter. It is calculated by dividing the number of conversions by the total number of visitors and multiplying by 100. Improving conversion rate (CRO) is often more cost-effective than increasing traffic.
Marketing Qualified Lead (MQL)
A Marketing Qualified Lead is a prospect who has been identified by the marketing team as more likely to become a customer based on their engagement with marketing activities. MQLs typically show interest through actions like downloading content, attending webinars, or visiting pricing pages. When an MQL meets additional criteria, it becomes a Sales Qualified Lead (SQL).