Sales funnels. Everybody seems to be talking about them these days but the concept can still be quite elusive, so I am going to break it down and address the following:
- What exactly is a sales funnel
- Why do I need a sales funnel
- How to best leverage a sales funnel to build your business
- Defining a value proposition for your funnel
- Different types of funnels
What exactly is a sales funnel?
A sales funnel is the process through which the customer moves from the point of contact with your brand to making an investment with you.
The structure of a good sales funnel works in the following way:
- Understanding its target audience both deeply and intimately.
- Knowing the problems and the desires of its audience.
- Building rapport with its audience through identifying their pain points.
- Offering an easily obtainable solution to its audience in exchange for value – e.g. a customer’s personal info or money.
Successful companies have well mapped-out sales funnels which clearly show the user’s journey through the different stages of the funnel and how their needs are being met.
Why do I need a sales funnel?
Most businesses that are only relying on their website to generate sales have often not thought of the “What, Why, When & How” of their customers’ purchasing decisions and have most likely not created an environment that allows the user to flow through their purchasing ‘journey’ seamlessly. This makes it difficult for them to scale their business.
It is important that a business takes the time to really understand the journey that a user goes through. Using metrics, it will then become possible to measure leads and sales, and much larger business visions can be met, and goals realised.
How to best leverage a sales funnel to build your business
I work with lots of different types of businesses and when we start discussing sales funnels, I like to help my clients get into what I call ‘Sales Funnel Thinking’.
This is looking at your site from when the user first lands on the page to where they are going – or where you want them to go – and understanding what exactly it is you are trying to achieve.
It is important to give the user only one specific task per page and to remove distractions that will take their attention away from that task.
Defining a value proposition for your funnel
Once you understand your target audience, their problems and needs, it is important to create a value proposition that will attract the prospective client to invest their time, personal data and/or money with your business.
When a user first lands on your page, it is important for them to be attracted by the value proposition that you offer. Your proposal must support the user in solving their problem. This can be by way of a cheat sheet, a free book download or a video course – to name a few examples.
People are much more likely to buy from a person or company from which they have already received something of value.
Different types of sales funnels:
This is currently a very popular type of funnel. A webinar is a virtual live event in which the host gives a presentation around a specific topic. Webinars are a great way to build trust, give value to your audience and, ultimately, to generate a greater amount of sales in revenue.
This funnel is all about giving the prospective client a large amount of free value in exchange for their information. This value can be given in way of a free cheat sheet, a free e-book, or a free course.
Case Study Funnel
This funnel works by showing the results from your previous clients and gives your prospective client the opportunity to replicate these results for themselves by signing up to the program, or by prompting them to call and see if the program is for them.
This works in the way of building a concept around looking for, say, 10 people who are seeking to, for example; step up in their life, live a life of abundance and finally start to follow their passion.
If you would like to learn more about sales funnels and how one could apply them to your business, then please feel free to send me a message and I would be happy to help you.
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