Which term refers to the decision stage where prospects convert into customers?

The term that refers to the decision stage where prospects convert into customers is the Bottom of Funnel (BOF). At this stage, potential customers have progressed through the earlier stages of the sales process, where they become more informed about the product or service and have evaluated their options.

In the BOF, prospects are ready to make a final decision. They have already considered factors like pricing, competitive options, and specific use cases. This stage often involves direct interactions, such as negotiating terms, discussing final questions, and ultimately making the purchase. Identifying this phase of the funnel is crucial for businesses as it is where they can direct their sales efforts most effectively and convert interested leads into actual paying customers.

Understanding the funnel stages is fundamental for startups to develop targeted marketing strategies. As such, the Bottom of Funnel plays a critical role in driving conversions and is recognized as a key component in developing business models and validating customer engagement.