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The primary tool for converting leads into customers is a marketing funnel. In this video, Mike Ploger discusses the importance of marketing funnels for both startups and large corporations. He emphasizes that businesses often struggle with effectively turning leads into customers and suggests using marketing funnels as a solution. The video outlines what a marketing funnel is, its significance, and the various stages involved in creating one. Essentially, a marketing funnel serves as a roadmap to better understand customers and enhance conversion rates, which is a critical objective for any business.