What term refers to the step-by-step process of moving prospects toward purchase?

The term "Sales Funnel" accurately describes the step-by-step process of guiding prospects toward making a purchase. This concept illustrates the journey a customer goes through, starting from being unaware of a product to becoming a buyer. It is visualized as a funnel because it narrows down as potential customers pass through various stages, such as awareness, interest, consideration, and ultimately, decision-making.

By utilizing the sales funnel framework, businesses can better understand and manage their sales process, identifying where prospects might drop off and optimizing their strategies to improve conversion rates. It provides a structured way of thinking about sales interactions and highlights the importance of nurturing leads throughout their journey.

While both "Pipeline" and "Sales Cycle" are related concepts, they are used in slightly different contexts. A pipeline typically refers to the current deals in various stages of the sales process, and the sales cycle refers to the duration and phases involved in closing a sale. "Inbound Sales," on the other hand, refers to a specific strategy focused on attracting customers through valuable content and relevant interactions, rather than the structured journey of moving them toward a purchase.

This makes "Sales Funnel" the most suitable term for describing the systematic approach to converting prospects into customers.