Essential Guide To Sales Funnels

This ebook contain the folloiwing contents

WHAT IS A SALES FUNNEL?

If you've been around internet marketing for any period of time then you will have undoubtedly come across a LOT of sales funnels...

Quite simply, a sales funnel is a series of offers that are presented to the prospect/customer and tend to increase in both price and value.

The idea is that as someone goes through the sales funnel they become more and more engaged and spend more and more money.

A typical sales funnel works like this...

At the 'front-end' is a free product to capture people's interest.
In order to grab the free product people have to sign-up and hand over their email address - and in turn they are added to an email list/database of prospects.

After the person is added to the list, they can then be sent other related offers that they might be interested in.
Immediately after signing up for the free product the prospect will typically be presented with a low priced offer

Here they're moving into the 'back-end' of the funnel.
If they buy this low priced offer then they will then be offered another related product at a higher price.
If the person buys the higher product they are then offered another product at an even higher price.


As the price of the products increases, so does the value being offered.
For example, the free and low-priced upsell product might be a short 3040 page report or eBook...
By the 3rd or 4th upsell they might then be offered a personal coaching program charged
The idea is that as people go through the sales funnel they become more and more engaged and spend more and more money.

WHY DO I NEED SALES FUNNELS IN MY ONLINE BUSINESS?

If you’ve ever taken the time to study psychology and consumer behavior, then you know the people who’ve shown an interest in your product, they are the ones who are most likely to purchase from you again. If you spend the majority of your time and energy marketing to this group of people, then you will get higher conversion rates, because you are making the most of your time and resources, to get the highest possible return on investment.

When you think about it, it's absolutely crazy not to offer people multiple products to buy.

Let's say you've got a report you're selling
If you leave it at that and get 500 sales, then you'll make
A nice result - but don't you think that some of those people would be interested in another related product
and in turn, don't you think some of those people would be interested in buying another product
Of course many of those people WON'T be interested - but a proportion WILL.

USING A SALES FUNNEL WILL INCREASE YOUR CONVERSION RATE

While you move down the sales funnel, you’ll notice the number of people in each phase decreasing, but, more importantly the likelihood that the people who are there will buy your product or service increases.  
The nature of the sales funnel filters out the non-perspective buyers while building up the number of targeted prospects. As the funnel narrows, the end result becomes more targeted. As such, you can create a fertile environment with highly targeted customers, where you can focus your marketing efforts. By focusing your efforts on these people, you can appeal to their wants and needs, because they already have a higher chance of converting.

A SALES FUNNEL CAN HELP PREDICT YOUR SALES VOLUME

With a sales funnel, you can use each marketing phase to quantify the number of perspective customers, and then take the data to predict the percentage who will become actual customers.
For example, if Jane monitors her website traffic for six months and finds that she gets 5,000 visitors to her website every month, and out of those visitors, 40% of them sign up for her free product/email newsletter, that’s roughly 2,000 new subscribers per month. Of those 2,000 new subscribers per week, 5% of them end up becoming paid subscribers or purchasing one or more of her products.

A SALES FUNNEL CAN HELP IDENTIFY MARKETING OBSTACLES AND DEFICIENCIES

Keeping a close eye on your traffic and statistics from your analytics program will help you keep track of what’s going on each stage of the marketing process. You can watch for trends in each stage over time, and as you notice these trends, you can pinpoint issues where you have room for improvement.  

Using this knowledge, you can either make adjustments to your plan to improve it, or you can learn where you need to focus more of your efforts to improve your results. If necessary, you can change your strategy, or concentrate on a particular strategy to see what it does.  

If Jane notices a change in response to calls to action during certain months, she can adjust the number of emails she sends to her list, either up or down accordingly.  

And much more...

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