Sales funnels are the holy grail of all businesses regardless of what it is we sell for our clients.
Providing sales funnels for clients is a HUGE opportunity that you can offer your clients, like HUGE!
Sales funnels can be seen everywhere around us from a shopping experience on Amazon to grabbing a last minute item at the checkout, that you didn’t know you wanted until you saw it, in a bricks and mortar store..
For example on Amazon when you add a product to cart and begin the checkout process you will notice you are often asked to buy into an additional service, like Amazon Prime. Or when at the checkout in a local store, you will notice low priced products, that occasionally you might add to your basket. Or when you sign up for a pdf white paper about real estate (using your email) you will often then be sent follow up emails. These are all forms of sales funnels in operation.
Interestingly though sales funnels are often under used by many digital marketers where in actual fact they are easy to implement, track and measure.
As a social media consultant it is vital you understand and implement sales funnels, they really are the make or break of many online sales or lead generation.
As an example, at best an average eCommerce website will have something around a 3% conversion ratio. If you think about that for a moment it is pretty terrible. You’d need 100 people to visit the website to make three sales.
That is not going to make a client happy is it? Imagine paying for clicks, and perhaps they cost $1 a click. You’d need to ensure your client’s product sells for $33 to break even, right? And the interesting thing is this is really normal, websites like this exist everywhere.
So that is the challenge to fix, and a sales funnel is the solution – basically more bang for the buck.
Appropriately designed sales funnels can increase that conversion ratio dramatically, and bring far more profit and return on investment. They mostly do this by increasing the focus on to “ONE THING” only, as opposed to hundreds of links and options to click on, which is of course is just confusing, makes sense doesn’t it?
Let’s now define a sales funnel further.