It’s hard to find a top brand that has not utilized a sales funnel to gain traffic. In this segment, My Clone Solution will break down everything you need to know about making sales funnels work for your business.
What is a Funnel?
In as brief words as possible, in business, a funnel is the digital sales process. The is broken down into three phases:
- The marketing portion
- The sales portion
- The closing
Before the closing, leads are taken from the marketing portion and to the sales portion. Getting leads into your marketing funnel can happen in a variety of ways. Some businesses utilize Facebook through their ads platform, while others choose to market through YouTube, Instagram, LinkedIn or a blog on your own website.
This process is important because it increases the opportunities your brand to be exposed to new customers. This is called an awareness campaign. It brings attention to your brand through digital media channels.
What Does a Sales Funnel Look Like?
Imagine this process as a funnel, with a wide top and narrow bottom.
The first touchpoint. You can use free content offers to barter in exchange for email addresses. Your best brand-building content starts the process. For a lot of us, it’s the blog that users turn to for answers. For others, it’s the advertisements on Facebook and Instagram. The purpose of this content is to build awareness around your brand.
Now it’s time to lead them into paid offers. You can do this with a webinar, spending time for a coaching call, or purchasing a low-cost item, introductory course, or an assessment. You just need the lead to put some skin in the game and get comfortable to the idea of saying yes to your offers.
This is where the sales team takes over. Present your lead with bigger money investments, like more extensive courses and longterm services. The goal of getting them to purchase something of greater value.
What Should my Funnel Look Like?
So now that you get the general idea of your sales marketing funnel, let’s break down an example of what this would look like with actual products.
We’re creating an informational marketing funnel for your business.
The goal is to have this in place before your course is built, or at least before you start promoting it. You need to have the end goal destination in mind when creating your funnel. Before leads enter your funnel, you should know where you would like them to end up. We can’t stress this enough, always have the end goal in mind as that will give you the clarity to the type of products and services you wish to offer to your client. Always aim to direct your lead into your core product offering.
Example: Putting it Into Practice
As an example, you would begin with an email that your lead as opted into by providing their information to you. In the email, your aim should be to educate the client and offer them some form of value that makes them eager, or at least open to accepting more information from you.
From there, this information should lead your target client into a relatively inexpensive information product. For the purposes of this example, we’re going to assume that this information product is only $9. From your total email list (trusting that your email list is large and diverse enough) of those that purchase your $9 info product, about 8% of them will convert into buying your next product offering, somewhere between $100 to $300.
If you’re able to offer enough value in your mid-level product offering, about 4% of those will convert into your next level offer such as a coaching program that usually sells for ~$500. If your course is good and continues to provide exceeding the value, about 6% of your customers should upgrade into your core product offering.
There are levels to this.
As a business owner, you must over-deliver on what you promise to keep your customers buying more.
What’s The Purpose?
Since you’ve read this far, we’re trusting that you believe creating a funnel is not all in vain. You may be wondering what’s the point of a funnel? Why do I need one?
Having a product is not enough to ensure the prosperity of your business. Every business has a product or service, but clearly, not every business is successful. In order to find success, businesses must have a roadmap they follow from the beginning with the end in mind. The marketing and sales funnel provide businesses this roadmap so that they are able to navigate from prospecting leads to having consistent, repeat customers.
Your sales funnel should be automatic and should be able to work without you having to directly do anything after you’ve set your automation pieces in place.
Your funnel should first introduce you to your lead to allow the lines of communication to be opened for a proposal pitch with eventual follow up and a strong sale and repeat customers.
What’s The End Goal of a Sales Funnel?
Taking a step back and looking at the bigger picture, what’s the goal of this whole thing? The ultimate goal is to sell your client your core product or service offer. During this process, there are other interim goals that need to be met. Your initial goal is to offer something of enough value that warrants them bartering their information (email or phone number) in exchange for this information. Getting their information is critical if you ever hope to sell them anything.
The next goal should be to build authority around your brand with offers that meet your leads’ needs along the way.
Continue to give your leads what they need at each step of your funnel but remember to continue to move them forward along the process bringing them closer to your core offering. Pour in insane amounts of value that your lead now feels compelled to buy. We’re not saying to guilt them into a purchase, but things should reach a point that your lead feels as though they have no option but to buy your core product. You’ve met their needs to this point so far, they are expecting the trend to continue and are now willing to pay for it.
Once you’ve hit these goals, it’s then time for your ultimate goal, selling that core product that you’ve put so much time into.
Now that you understand what funnels are and how they operate, it’s time for you to create one for yourself (or have someone create it for you). Don’t waste time wishing and praying that leads would fall into your lap. It’s time to take action, and My Clone Solution can help you do that. Just *click here* to learn more and get started with one of our project managers today!