A B2B sales funnel refers to the process that businesses use to convert prospective customers into paying clients in a business-to-business (B2B) sales environment. It represents the various stages that a potential customer goes through from initial awareness of a product or service to making a purchase decision.
Here are the typical stages in a B2B sales funnel:
Awareness: At this stage, prospects become aware of your business and its offerings. This can happen through various marketing channels, such as social media, search engine marketing, content marketing, or referrals.
Interest: Once prospects are aware of your business, they may develop an interest in your products or services. They might explore your website, engage with your content, or sign up for a newsletter.
Evaluation: At this stage, prospects evaluate your offerings and compare them to alternatives in the market. They may request more information, demos, or quotes, and engage in discussions with your sales representatives.
Decision: Prospects reach a decision point where they decide whether or not to make a purchase. This stage often involves negotiations, overcoming objections, addressing concerns, and showcasing the value of your solution.
Purchase: After the decision is made, the prospect becomes a customer by making a purchase. This could involve signing a contract, making a payment, or initiating an order.
Retention and Upselling: The relationship with the customer continues beyond the initial purchase. This stage focuses on retaining the customer, ensuring customer satisfaction, and exploring opportunities for upselling or cross-selling additional products or services.
It's important to note that the B2B sales funnel may vary depending on the industry, target market, and specific business strategies. The stages mentioned above serve as a general framework, and businesses often customize their sales funnels to align with their unique sales processes and customer journeys.
Source: https://oroinc.com/b2b-ecommerce/blog/b2b-sales-funnel/