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Streamline your offerings to increase profitability!
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STAGES OF A FUNNEL
The Opt-In
• This is where prospects become aware that your product or service exists. This could be done through digital marketing activities such as SEO or social media campaigns (like managing your Facebook group).
• Once potential customers become aware of what you have on offer it’s time for them to express interest by signing up for newsletters or downloading a freebie, depending on what will work best for them.
The Offer
Whatever sales event option you choose, you need to KNOW YOUR CONTENT & be able to effectively communicate the value and Instill In them the confidence that with your offer they can achieve the goal you are speaking to.
The Sale
• At this point, customers are assessing whether or not they want/need what you have on offer so making sure that there is plenty of useful content available can help sway their decision in favor of buying from you rather than another person or even choosing not to buy at all!
• Examples include testimonials/case studies showing how other customers have benefited from using your product/service as well as webinars where experts discuss related topics etc.
The Intent
•The goal here is now to turn those interested prospects into paying customers by providing incentives such as discounts or free shipping etc.
• Anything that adds value and demonstrates that you recognize their needs can help push them towards taking action and making their purchase decision easier for them!
Action
• Finally, once all other steps have been taken care of it's time for prospects to take action by actually completing their purchase!
• Making sure checkout processes are streamlined and any questions they may have during this process are answered quickly will ensure they don't abandon the sale halfway through due to frustration!
UPSELLS, ORDER BUMPS, & TRIPWIRES: WHAT ARE THEY?
Tripwires
• Refer more towards selling low-cost items which can easily be purchased without too much thought before you have their payment information
• This helps offset the cost of any ads or marketing expenses for your masterclass/challenge
Example:
Offering a mini-course on the Thank You page of your Lead Magnet
Order Bump
Refer to selling items that add value but aren't essential at the point of sale like a VIP offer
Example:
DFY setup
1:1 tech time
Own Complimentary Product or Service
Upsells
• Upsells involve offering additional products related to what was initially bought which could potentially increase revenue per customer significantly if done correctly.
• This typically happens AFTER the main offer is purchased.
Example:
Offering My VOB BAM's virtual assistant services
Profitable Pipelines course when someone buys Nerdly.
Marketers LOVE to reinvent the wheel and call it a triangle. You will see people using different terms for the same thing so don't let the terms prevent you from DOING THE THIIIIIIING!
LEAD MAGNETS & FREEBIES: WHY ARE THEY IMPORTANT?
Lead Magnets
• Offering something valuable such as an eBook, whitepaper, discount code, etc., free-of-charge when someone signs up via email capture forms, etc.
• These types of offers create trust in new visitors who may not yet be ready to commit financially but still show interest in learning more about what you do thus creating further opportunities down the line when they're ready to make a purchase decision!
Freebies/Swag
• Work similarly but instead involve giving away actual physical products rather than just digital ones - these tend to work better because people always appreciate getting something tangible without having spent anything themselves;
• However, finding suitable cost-effective items here becomes increasingly difficult so it's important to weigh up the pros and cons before investing too heavily into this type of approach!
MORE PERSUASIVE AND EDUCATIONAL CONTENT
Tips
When writing content related either directly or indirectly to one's own products or services it's important to make sure comes across as both Persuasive and Educational at the same time
Use strong catchy headlines and titles to grab the attention of readers. While you may know what they need to do, you need to keep In mind what they are looking for and speak to the dopamine hit they'll get from doing the thing, vs the technical how-to aspect of It. The WHY, not the HOW.
Providing beneficial information to even those who don't end up purchasing anything from you - this way build up a loyal following who will come back again whenever the need arises i.e. building relationships rather than just pushing hard sell tactics nonstop all time.
Include slang terms within text every now and then gives human touch thus helping break the monotony often associated with long pieces written in a purely technical language which is much less likely to draw readers in and engage them further; though it's important to use these sparingly otherwise risk alienating people.
- Don't get caught up with technical terms, speak & write as though you are having a conversation with them. (And they are a 6th grader).
- People are bombarded with content & they are already stressed about their business, figuring out the best next step, so break It down Into simple language/instructions so they can comprehend & take action with what you offering.
Implementing a good Sales Funnel Strategy is Key to Success in online businesses in today's competitive market environment; however, having the right pieces puzzle in place is the first step in ensuring gets noticed and appreciated by the target audience leading to the ultimate conversion success story for everyone involved.
