The sales funnel is one of the oldest concepts in business, but that doesn’t make it less useful. It’s quite effective, too, because once you start thinking about your product or service as a funnel, you’ll realize there are several different opportunities to up-sell and cross-sell along the way.
How many times have you gone through a checkout process only to be bombarded with offers for other products? The merchant has figured out that if they capture just five per cent of their customers at each stage of the funnel, they can greatly increase their revenue. Maybe you’re not selling online products, though; perhaps you’re selling services instead. Regardless of how your business operates, here are some strategies that can help you maximize your profits via the sales funnel.
The Marketing Funnel by Paul Haarman
You were probably introduced to the concept of a sales funnel when you first started your business. In its most basic form, it looks like this:
$100,000 – $0 =?
If you’re an author writing your first book, then it’s quite possible that at one point in time, you had no money and no fans/readers yet. A typical scenario for authors is to spend years working on their craft while searching for a publishing deal or self-publishing a few books until they finally get noticed by a publisher who will pay them to write books under their label. But let’s say this never happened, and after all those years of work and writing, they still don’t have a book deal. What now?
It’s important to understand that you can’t make your customer want something. You can tell them about all the benefits and make someone believe those benefits exist. Still, until they start seeing those benefits for themselves — by reading the book or trying out the product — it does not matter what you say they need because they won’t be able to convince themselves that it would be beneficial for them either. And without that desire and conviction to take action, nothing else matters because, at this point, we’re just watching a thought in someone’s head.
Our job as marketers is not about getting our audience to see things the way we do–it’s about giving them reasons why our way of seeing things would benefit them too. The more senses we can give people to take action, the greater our chances are of making an impact.
The Landing Page Funnel
To understand how you can use the sales funnel to increase your revenue, you must learn to master each marketing funnel stage before moving on. So let’s start with something simple: what happens when someone visits your website?
If this is a cold-traffic site, visitors will often be met with a landing page. A landing page is simply a one-page website dedicated to persuading someone who didn’t come in through an affiliate or PPC ad (advertising) or via organic search (SEO). According to Wikipedia, landing pages are “designed to convert visitors into sales or leads”. A landing page is generally only one page, so visitors don’t have any reason to leave. This keeps your conversion rates high because you’re not giving people the chance to go elsewhere on the internet and escape your marketing message.
What We Offer:
Mastermind Group –
An exclusive group is run by successful marketers who act as mentors and students. Each month, we discuss various subjects related to online business, tools/techniques for success, personal challenges, etc. According to Paul Haarman, Members can submit their questions privately (if they prefer) or post them openly for the benefit of other community members. This gives you a great opportunity to learn from everyone else’s experience here; rarely do you find a group where everyone is willing to share. Members also benefit from receiving one-on-one coaching from various members in the group based on their needs and wants.
You can imagine how this would be incredibly helpful for someone just starting. After all, no one ever wants to fail in business. Everyone struggles with many issues that prevent success from reaching them. Still, it’s hard to overcome those problems when you’re working alone with little or no guidance from anyone else who has been through similar hurdles. This is where a mastermind group can help tremendously because these people have already achieved what you want. They know exactly what it takes to get there–both psychologically and financially–which means they can answer any questions or concerns you have.
The landing page funnel is another type of sales funnel that you can use to increase your revenue by offering exclusive products or services only available to those who have joined your email list. You can think of it as a separate business within your business–one for the masses and one just for the few who are willing to put in the time and effort to join.