Optimize Your Sales Pipeline Funnel for Life Sciences

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All right, so let's talk about a sales pipeline versus a sales funnel now, so many people often get this confused. They use those words interchangeably. However, a funnel suggests a number of prospects that you're working with that steadily drops off as the sales process goes on. So your sales funnel is guiding people through the different stages of actually becoming a paying customer. Right. And with a sales pipeline, that typically is a process where leads have gone through the series of funnel stages. They have either purchased a low ticket product or service. They've signed up for a demo and have submitted their contact information to learn more. So once they've done any one of those number of things, they're moved into a sales pipeline so that they can get to that next step in that pipeline, because a sales funnel is just trying to get people interested, trying to get people to become aware, trying to get people to have and take different micro conversions. Now, this is a really good illustration here of a sales pipeline where you have people that, you know, have either opted in, they've maybe bought a low ticket kind of trip wire offer and they have, you know, been qualified. Maybe they've had a quick phone call. They signed up for a demo. Right. And so now they're in the different stages of the sales pipeline. Now with a sales funnel. That's the difference here is that people are first coming here down this sales funnel to different varying stages. Right. And then they are, you know, turning into and becoming actual sales prospects in the sales pipeline because they've taken a specific action. They have, you know, bought something and now they're on to the next stage. So just wanted to record this one here to really give you the understanding that sales pipeline and sales funnel are two different things. A sales pipeline is where you're putting people after they've taken a number of different steps in your sales funnel and then now they are looking to become a long term type of customer where you have, you know, a product or service that you're looking to present to them. So that's it for this video here. We'll see you guys in the next one. Thanks.