A Sales Funnel varies a lot depending on your type of business, product, marketing channels, etc. In this course we will cover:
The graphic on the right includes a basic sales funnel. And of course, the sales funnel we all want would be the simplest, easiest, “just buy from me” funnel, but that rarely works. In the real world, sales is a process, and often the same sales funnel that works offline will work online as well, so one simple way to set up a sales funnel online is to ask yourself how you would sell the product off-line. Ask yourself the following questions:
-What problem does your product solve?
-Are people seeking your product, or does it have to be sold (push versus pull marketing)
-What benefits does your product offer?
-What questions and concerns have to be answered and overcome before a person buys?
-How does your product compare to the competition? In price? In Quality? In add-ons or upgrades?
Following are the 4 case studies. Each one is unique from the other, but as you go through each one I’m sure you’ll pick up some great tips and ideas on how you can improve your own sales funnel and sell more stuff and make more moola!
HCG EZ Drops Case Study 1.
In this example, the product is very popular and highly sought after. The marketing channel I chose was SEO, meaning, people were actively seeking this product, and my marketing funnel could be very short because they didn’t have to be sold. This makes a major difference in your funnel, if people are actively seeking your product life is easier in terms of a funnel, but harder in that lots of other people want to rank for the keyterms you are going for, so, short funnel, but difficult marketing task.
In the end, it worked out, and over the last couple of years this site has brought in over $2,000,000 in sales. The simple funnel we used is on the right.
But don’t be confused when I say “simple funnel,” because although the funnel was easy, the it took a very aggressive SEO and affiliate marketing push to make it hum. So it’s really important to understand that the relationship between the type of marketing you are doing and the conversion you will get is critical.
So in this case, the most critical items that created success were:
1. A successful SEO campaign
2. Constant work on the conversion of the website. It currently converts about 3% of visitors into buyers, well above the online average for e-commerce sites, which according to Google is 1%.
Nerium is a network marketing company. I know from experience that a lot of people on my list and who follow me on Twitter are network marketers, so I’m using this as an example. Most network marketers have lousy sales funnels, that consist mostly of constantly marketing their products to the same small group of people, and they never get out of their “warm market.” Eventually, they run out of people to talk to, annoy their friends and family, and are out of business. But, network marketing is a great model, and here’s why I recommend all marketers do a network marketing company, at least part time:
-Most network marketing companies have a great personal development program, that you probably wouldn’t get otherwise.
-Network marketing allows you to build a growing residual income, if you are consistent and persistent
-Most of the sales tools and creatives like videos, graphics etc. are created for you, buy professionals, making the marketing easier
In 2005 I started marketing for Xooma Worldwide, and although I haven’t marketed those products very much since about 2007, I still get a check every single week for work I did way back then!
At the moment, I’m an Executive Director and qualify for a Lexus through Nerium International, here’s the funnel I used, it’s very different from the HCG funnel.
In this funnel I have 2 primary marketing methods. One is simple, I hand out bottles to people I know and let them try it. Those little bottles are my best sales people, about 30% of the trials turn into either customers or distributors.
Secondarily, I have a website for the product, Nerium AD, which I market through SEO and Stumbleupon traffic. (you can learn about Stumbleupon traffic in our paid members area, it’s probably the coolest “under the radar” marketing methods available online, yet very few people even know about it or how to use it!)
Between the sample bottles I give out, and the leads I generate, I recruit enough people to make a few thousand dollars a month and quality for a Lexus. Not bad. And because I am an online marketer and don’t want to become that network marketing leader that has to attend countless meetings and do a ton of training, I made a deal with my sponsor in the very beginning that I would bring people on if he would train them and teach them how to do the deal. He has been worth his weight in gold in this regard, and has trained everybody I have brought on, which benefits him as much as it does me.
So, I can do what I do best, which is lead generation and online marketing, he kicks in with the training, and voila! We both have great residual income from this simple process.
Escape The Matrix
The Escape The Matrix funnel is quite different. We market SEO plans ranging in price from $297 per month to $1470 per month, along with a premium membership. Each of these requires a different funnel. Both are hyper competitive products, the “make money online” niche is way over saturated. So, we have to be much more patient in our marketing. For example, SEO services can vary drastically in price, from $50 a month for a basic service out of India, to well over $10,000 per month for SEO from a premium provider. Usually, a client will do a lot of research, and want to talk to somebody on the phone before making a purchase.
In this case, the life time value of a customer is very high. So, we have to be patient in our funnel to get a customer, then over deliver on the back end to keep them.
The graph on the right describes the process. We use Infusionsoft software to manage the customers and sales process, and often the online leads lead to phone calls, or face to face meetings if the company is local.
The big key is the back end follow up we do. Delivering results often isn’t even enough. We have to constantly check in with each company (at least monthly) and provide on going communication about what’s happening with their site, ideas on how they can improve it, reminders to take advantage of our premium services such as our back office membership and press release service, and we even have our developers work on their websites if they have bottle necks in development, as most of them do. This over delivery leads to long term customers who refer us to others.
So although a sales funnel doesn’t have to be complex, you do need to have one, to constantly improve it, and to use the right tools and services to make it hum.
Come back soon to see additional info and links on some of the services we have used to create funnels that really hum!
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