A sales funnel is one of the most important marketing “tool” you can have. Unfortunately, many entrepreneurs – both new and established – have no clear understanding of what a sales funnel is or how one works.
If you imagine your funnel as looking like, well, a funnel, it’s easy to see that your free content—at the top—is consumed by the largest number of readers. Your free content should lead to low-cost products and services that immediately convert “lookers” into “buyers”. This is a very important transition because it quickly changes the relationship.
As you continue through your funnel to products and services that require a higher investment, you’re often selling to more targeted and committed buyers and it’s easier to resell to current customers than it is to acquire new ones.
Your task is to ensure that your funnel leads buyers naturally from the top all the way to the bottom. The more buyers you can keep in your funnel, the more sales you’ll make.
Most new, and even established, business owners can easily envision the top of the funnel, but if you truly want your business to grow, you must master the entire process.
3 Sales Funnel Leaks Killing Your Conversions
For a business owner with a solid sales funnel in place, looking at the number of subscribers at each level of the funnel and predicting pretty accurately what the sales are going to be from day to day or week to week is not uncommon.
If you’ve got a sales funnel in place, though, and your numbers aren’t looking great, chances are you have a leak somewhere. Your funnel has a leak (or two or three) where subscribers are falling through. There are three common causes for funnel leaks, and once you spot them, they’re pretty easy to fix.
- Not enough traffic. The very heart of your sales funnel is the traffic you bring in. Without visitors to your blog or opt-in pages, you’ll have no subscribers. Without subscribers, you’ll have no (or very few) sales. Without sales, you’ll have no business. Yet this is where a lot of people struggle. How can you get more eyes on your content and more subscribers into your funnel?
- No follow-up. This is a leaky funnel mistake that many entrepreneurs make. They spend a lot of time and energy setting up a great squeeze page and driving traffic to it, then they deliver the goods to their subscribers, and then…nothing. No follow-up emails. No offers to buy more. No related services or products. Nothing.
- No call-to-action. This happens most typically at the top of the funnel. Your blog posts, social media content, podcasts, YouTube videos—everything you offer for free—must have some kind of call-to-action, or it’s all just wasted energy. Your call-to-action can be as simple as “Subscribe to my YouTube channel” or “Follow me on Facebook for more tips,” or “Buy Now,” but it must be there.
With these tweaks and some attention paid to your follow-up sequences, chances are you can fix those leaks and increase your profits in no time.