For an online business owner, a sales funnel is probably the most important system you can have set up in your Business.
But what’s crazy is that both new and established – have no clear understanding of what a funnel is, how it works, how to set it up, or how to make it profitable.
As you can imagine, failing to fully understand this critical part of your business means fewer sales, lower profits, and ultimately, an unstable business.
So, What is a sales funnel exactly?
At its most basic, a sales funnel consists of free content, which typically requires nothing of your readers. Many sales funnels begin with blog posts, YouTube videos, Facebook content, and other information readers can access at no cost. This is the “top” of your funnel. Nowadays, many entrepreneurs are starting their funnels off with premium priced products.
Here’s my advice.
If you are new and have no community or list as of yet, you should start with captivating and cultivating your audience. This is done through sharing free content.
Next, you’ll have an attractive offer that requires a commitment from your viewer – typically an email address. You’ve seen this type of offer on websites all over the internet, and probably even signed up for some. This is the free ebook or guide, video series, checklist, workbook, or other valuable content that is available in exchange for “opting in” to an email list. This is also known as a Freebie.
Once on your mailing list, you’ll then present your readers with a series of low-cost offers. Perhaps you have a low-priced ebook or a trial membership. You may decide to give pure content and offer your coaching package in each email.
Customers who purchase your low-priced product move further down the funnel, and are presented with more, higher priced products. As they continue to buy, they move closer and closer to your top-end offers, which make up the bottom of your funnel.
What is your funnel supposed to do?
Well, the obvious is you increase your sales. However, a funnel does so much more.
At the very beginning, a funnel is designed to captivate your audience. When a viewer decides to give you their email address and become a part of your inner community the first thing they should receive is a welcome email with the freebie they signed up for who in that welcome email you should be giving them the first taste of who you are what you do and why they should care.
As they move further along into your funnel, they get to know you even more. Especially if you are doing lots of storytelling in your emails. You begin to cultivate a relationship with them and they begin to know, like, and trust you.
You also establish yourself as an authority and a leader to them.
The beauty of a sales funnel is that this is all done on autopilot.
Your funnel should do 3 things for you.
- Captivate an Audience
- Cultivate that Audience
- Convert that Audience into paying customers
Do you have a funnel set up in your business?
Is it profitable?
What to do next?
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