If you are an aspiring entrepreneur, then you must understand the importance of marketing. Your business will eventually fail without marketing because you won’t be getting any new customers. So, if you haven’t put time and effort into marketing your business, then you must start now. One easy way to get new customers is to use a sales funnel.
What is a sales funnel?
This strategy is named so because it leads a customer through a process at the end of which he/she narrows down on one thing, buying your product. At the start of the sales funnel, you have the largest number of people who are potential customers. At the end of the sales funnel you will have the smallest number of people who are committed customers. A sales funnel aims at converting more potential customers into committed customers. Now that you know what a sales funnel is, you can start building an online sales funnel by using your website.
1. Create an amazing landing page
The landing page of your website will have the first impression on your potential customers. Hence, you should devote time and effort to make it look amazing. A great landing page will also encourage customers to subscribe to the website or sign up for some sort of list. This will allow you to build a contact list which you can use for outreach purposes, and it will serve as your first line of communication.
2. Present a front-end offer
Then you have to present an opportunity for potential customers to procuring your service or buy your product. When you are preparing your main front-end products and associated offers, then you should also be engineering back-end products and offers. Back-end products are the ones you really want to sell, but for a customer to buy them, you need to get him/her started off on a smaller and cheaper product. Simply put, you will be pre-selling on the next step in the sales funnel.
3. Give an upsell offer on the back end
Now that the customers have bought a product or service, you should present them the opportunity to upgrade or upsize that service. For instance, create an offer which will provide even more benefits to the customers if they chose to upgrade. This technique is called upselling. This is analogous to presenting someone with an appetizer before serving them a steak dinner. Your customers will be presented with the opportunity to upgrade and get more out of their product or service. This also means that you will be making more money because upselling usually involves more expensive or larger products and services.
4. Offer a downsize option
Sometimes a customer may like one of your expensive products but might be unable to buy it due to budget constraints. Upon this realization, the potential customer may decide to navigate away from your website. You should prevent this by offering a smaller and cheaper product to this potential customer. The small product will have some similar properties with the one customer wanted to buy, and it will seem an economical choice as well. This strategy is known as downsizing or downgrading. It will get you new customers whom you can encourage to buy more products in the future.
5. Keep it going
The last step of a sales funnel is to keep the momentum going. Follow up with all the new customers that you have acquired and make sure they are satisfied with your product or service. An efficient way to accomplish this is to offer a membership-based rewards program. This will enable you to stay in contact with customers. Hence, you will be able to present them with more offers and services. You need to remember that potential customers are the largest number of people and are placed at the top of your funnel and the smallest number of people i.e., committed customers are placed on the bottom. The categories in between can be changed to meet your sales goals and business needs.
The above-mentioned steps are geared to a business which has an online presence. The sales funnels vary according to the industry and may utilize different strategies. However, every business can use the sales funnel model to their advantage. Incorporating a sales funnel into a website is quite complicated and time-consuming. It requires expert marketing skills and a good grasp on web development. So, it is recommended that you leave this job to the professionals. webVDEO specializes in web designing, SEO, and social media marketing. We can help you with developing a holistic sales funnel which will generate more leads for your business.