Have you heard the term ‘sales funnel’ thrown around and thought “what the heck is that?” you’re not alone. Many businesses are missing out on potential leads by not having a sales funnel in place (especially in an online business). You’re leaking money!! Nobody want’s to do that right?!
What is a sales funnel I hear you ask…
A sales funnel is a well thought-out sequence of emails, products and upsells to drive a lead through a buying process.
A classic sales funnel looks like this:
- A Prospect lands on your landing page – either via paid or organic traffic.
- Enters their name and email to download your lead magnet – a lead magnet is simply something you offer people in exchange for their name and email. Usually a PDF download or video class works well.
- On the thank you page – there is a limited time upsell – $7, $17 product – planner, web class etc, that adds on additional learning/benefits to your freebie.
- A prospect either purchases the upsell #winning or closes the page.
- A prospect will then receive a series of follow up emails – first with the lead magnet + purchase, then a series of tips, tricks and soft upsells for your products/services.
And that’s it!! That’s the foundations of a well thought out sales funnel.
Once it’s setup you’ll have leads coming into your business and you then need to continue to nurture these leads. Communicating with your tribe on a weekly or fortnightly basis is essential in marketing your business. Consistency is key.
Statistics show 44% of newsletter readers will purchase from a promotional email and they will spend 138% more than someone who doesn’t receive newsletters. Those are big numbers! This is where being consistent in your email marketing efforts pays off. Sending weekly or fortnightly newsletters, with tips tricks, info on your products/services really works.
What happens if a sales funnel doesn’t convert?
Then you try again. Simple right? Persistence is key. It’s likely that your first sales funnel might not convert. You may not know what your target market wants. Your copy may be off, your upsell could be wrong. This is where split testing comes into play. You can duplicate your sales funnel and test different lead magnets, upsells and offers to see what converts best with your audience.
Now that you know the details of a sales funnel, you’re ready to plan.
Alethea
About the Author
Alethea, Founder and Communication Designer at Cloud Executive Services, Online Business Builder and Start-Up Tech School. Design lover, coffee drinker, entrepreneur.
