Marketing and sales managers looking to improve and optimize their marketing and sales processes can look at a number of areas-marketing conversions, sales pipelines, and sales activities. However, the first area to look at for improvement is the sales funnel. More specifically, analyzing the conversion rates between different stages of the sales funnel can yield greater numbers of leads and sales.
Sales funnel analysis is vital because investigating the process can help you understand where you acquire your leads, where they fall off, and how you can improve the sales processes. A healthy funnel involves having prospects move through all stages of the sales cycle, while allowing your business to continue producing sales ready leads.
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