Sales Funnels 101: The Five W’s
Yael Bendahan Friday, November 23, 2018
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If you’ve been in the online business world for more than a few months - well if you’re reading this article! - chances are that you’ll come across the term “sales funnels”. They can sound intimidating and difficult and just something ELSE you’ll have to learn about your business.
But they can be the most profitable tool you can ever create for your business!
Let’s address the who, what, when, where, why and how - the easiest way to start!
What is a sales funnel?
A sales funnel is essentially the roadmap for the buyer’s journey through Know, Like and Trust. It brings people through the awareness, engagement, and then purchase steps of their journey.
A sales funnel can be a series of web pages, emails, FB Messenger messages, or even Facebook Ads that lead your target market to get to know you, receive value from you, and eventually buy.
The job of the sales funnel is also to lead your prospects up your “value ladder” - from your free offer to your intro offer to the highest and deepest way they can work with you or buy from you.
Why would you use a funnel for your business?
Mapping out and creating a sales funnel for your business allows you to measure success at each stage, and see where potential leads and customers are dropping off. This also allows you to optimize your sales process so that it’s performing at the top function and getting you your maximum amount of leads.
Funnels That You May Have Come Across
Lead Generation Funnels - yup, just a landing page with a place to enter your email address and download a freebie, after which you receive a series of emails in sequence to introduce you to
SLO Funnels (also known as Tripwire Funnels) - Ever downloaded something and were brought to a page where you were offered something else for a reduced price for a limited time? That’s a tripwire funnel or an SLO funnel - which stands for Self-Liquidating Offer.
Evergreen Webinar Funnels - Sign up for a webinar, you get a timer counting down to when the webinar starts which then redirects you to a webinar page)
High-Ticket Application Funnels - These are usually for high-ticket coaches - you’re directed to an application for a call.
Free Plus Shipping Funnels - Buy a book and only pay the cost of shipping - like Russell Brunson’s Expert Secrets.
You’ve probably come across any or all of these!
Who can use a sales funnel?
YOU. If you have something to sell or something to say.
It’s pretty simple. If you have a business - whether it’s coaching or consulting, e-commerce, local, agency, non-profit, selling info products, network marketing - you can use a funnel.
When and where do you use a funnel?
When people come into contact with you. So, if you’re working on driving traffic to your website, work on driving traffic to your funnel. This is the best way to get your prospects from point A to point B and then C - which works MUCH better than a website!
Why? Because a website has OPTIONS.
A funnel only allows someone to take ONE action - which will take them to the next page. This minimizes distractions and increases the likelihood of conversions.
I’m not telling you to get rid of your website! But you’ll want to lead to your funnel from your website as well as drive traffic directly to it. Some options are:
Having a tab on your website menu leading to your funnel
Adding a little form to collect names and emails
Creating a button or graphic prominently placed that’s linked to your funnel
Here’s the important thing to remember - if you’re driving traffic to your funnel, and the funnel doesn’t convert, that traffic is WASTED.
You can have the best Facebook Ads in the WORLD, but the people who click won’t convert to leads because your funnel isn’t working.
This is the foundation you need to lay before you start driving paid traffic to your funnel.
HOW do you create a funnel?
Here are the foundations you need for a basic successful/lead generation sales funnel.
A clear target audience.
Bait (or an opt-in incentive).
A nurture sequence to keep your prospects engaged and deliver more value.
An offer to lead them to at the end.
In my next article, I’ll be deep diving into these foundations, along with discussing your entry offer (which is THE most important offer you’ll be making), walking you through the steps of creating your first sales funnel, and a collections of tips that I’ve put together to set you up for funnel success!
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