Understanding Sales Funnels
Online Sales Funnels 101
A sales funnel is a very specific series of pages and events that sends a visitor on a laser targeted path, first converting them to a lead, and ultimately to a sale or some form of revenue (based on your business model).
There are many ways that you can attract a visitor to your sales funnel. However, this post is all about setting up your online business for success, in the form of high converting online sales funnels.
Most successful sales funnels begin with a “lead capture page”,
which contains precise copywriting and a strong call to action, which convinces your visitor to give you their contact information in exchange for some form of valuable content. This can be in the form of a lead magnet, webinar, coupons, or any other content pieces that provide value for free.
In a nutshell, you get your visitors through your landing page, then on your capture page, you collect lead information from a prospective customer or client. This relevant info is usually in form of a name, email address and any other additional information (such as phone or Facebook Messenger).
When creating the capture page, you have to balance out the “ask” and “reward” system. This involves asking for a potential lead’s details in return for a “reward”. Once you capture the lead and have them in your “list”, the goal is to follow up with them via valuable content (email drip system and follow up funnels) and funnel them into becoming a paying customer.
It is important to note that sales funnels are not usually part of your typical website.
Most of the time, you will send your targeted audience to your sales funnels, depending on where they come from. However, you can send your current site traffic to strategically placed funnels, depending on the pages they are on. Combining the two strategies is a great recipe for higher conversions on your current site.
Sales funnels vary significantly pending on the purpose of the funnel and the intended goal of the campaign. But each funnel has a specific purpose for why it was built, with the likes of, but not limited to; webinar funnels, physical product funnels, network marketing, real estate, and virtually every single niche that wants to see conversions in online marketing.
TYPES OF SALES FUNNELS THAT YOU CAN USE TO CONVERT SITE VISITORS INTO CUSTOMERS
Lead Magnet Funnel
The lead magnet funnel is a “something for something” process is where your site visitors are incentivized with an ethical bribe (it could be a report or a video, IE Lead Magnet). It should be something tangible that they are giving you their email address for. This can be used in every industry, and usually ties into a pain point that you are ready to solve. The #1 thing to remember when using this funnel, is to make sure your lead magnet’s value justifies the exchange of someone’s info to get it!
Squeeze Page Funnel
This curiosity-driven two-page sales funnel generates leads from visitor’s curiosity which should be drummed up with conscious effort. The squeeze page funnel aims to get your potential leads email address first, then you send them to the next page which oftentimes will reinforce your product or service.
This page offers very few distractions with minimal attention paid to branding. Hence with most squeeze pages, you won’t find a logo, footer or any links. The number one strategy for high conversion rates on squeeze pages is to use “curiosity-based” headlines. In attempting to satisfy their curiosities, visitors must fill in their contact info to look behind the curtain. The more curiosity-driven the header, the more likely you are to get their email addresses. It is an excellent strategy for going after new audiences, focus on curiosity first and branding later. Again, the ultimate aim of a squeeze page is the information of potential leads.
Reverse Squeeze Page Funnel
In the reverse squeeze page funnel, the tactics are to offer value first, then ask for their contact details after. In this sales funnel, you “give” before you “take”. You give away valuable information and items and then ask the visitor to “opt-in for more”.
This helps in dropping the customer’s guard very quickly, since you made a considerable effort in establishing a relationship with them, by offering valuable content for free. Naturally, this will have a lower conversion rate than the traditional squeeze page. However, the conversions here would be of very high-quality leads. The thank-you page can contain any other additional information or even an opportunity to share with their friends.
Sales Letter Funnel
Using the traditional sales letter funnel to sell your product or service, this type of funnel uses a lengthy long form, front, and center, to sell the product/service, with your call to action or purchase button usually located at the bottom of the page. It was named after the script Russell Brunson uses for his letters in the Dotcom Secrets book “Star, Story, Solution”. Using this strategy, the sales letter aims to make the first sale of the product on the starting page of the funnel, and subsequently use upsells, down sells and OTOs (one-time offers) to increase the value of the purchase.
Tripwire (2-step) Funnel
In this 2-step sales tripwire funnel, the potential lead is offered a ridiculously front-end low-ticket product to get your visitors into the buying funnel. A perfect example is the Free Book offer… just pay shipping. Once they commit to the very low price first offer, you can now up-sell them more expensive products through order form bumps, one-click up-sells or down sells.
The “Two-step” in the title gets its name from the two-step order form used on the first page of the sales funnel. In step one, a potential lead is asked to submit their contacts; email address etc. Then in step two the potential lead enters their product and proceeds to check out by adding their credit card information. Maximizing the value of the two-step comes
when you make a conscious effort to follow-up the potential lead with a down-sell when they didn’t complete step two and an up-sell if they completed step two. Using up-sells or down sells, essentially increases the average cart value, and ultimately increasing the ROAS (Return on Ad Spend).
Bridge Funnel
This bridge funnel is used when you are attempting to connect differently, but related platforms for your customer; or you want to pre-frame an item/service for sale. This funnel is common with Affiliate and Network Marketers. Because affiliate marketers or Independent Business Owners of MLMs don’t control the pages they are sending them to sign up, you still want to capture information to use follow up drip campaigns. With the bridge page, it allows you to pre-sell before sending it to a funnel you don’t control.
Webinar Funnel
The webinar funnel is used to drive registrations to your webinar event. The webinar funnel gives the entrepreneur the screen time or a webinar to close potential leads into high paying customers. In the webinar, all the myths, facts and fictions concerning the products are addressed. Typically, these webinars are usually between 30-45 minutes long.
The webinar funnel, which is also an event is broken into two parts. In the first phase, visitors register to attend, where they are promised success stories regarding the benefits of the products or services. This naturally this drives curiosity. Unlike the auto-webinar funnel, the live version is hosted on third party software like zoom.
In the second phase during the live webinar, replays are played while the window to buy begins to close creating a sense of urgency. If you want to create a successful webinar that sells, please pick up read “Experts Secrets”. It gives invaluable information on the entire process of a successful webinar presentation.
Auto Webinar Funnel
An auto webinar funnel is a pre-recorded webinar video that sells your product on autopilot, without the having to go live every time. It is usually created AFTER the entrepreneur has proven the authenticity of their product previously in the webinar funnel and records it for re-broadcast anytime. In this type of funnel, the best converting webinar historically is uploaded on their online platforms {YouTube, Vimeo, etc.) and embedded in the webinar’s broadcast page.
These auto-webinars can be programmed to play every round the clock’ selling your product and services, essentially on auto-pilot for you.
Here’s a quick overview: Someone registers on the registration page, where they are taken to the confirmation page to see the date and time of the webinar. Having already captured their email addresses, you email the link to a preview page (possibly with a countdown to the webinar). Here, the excitement builds up about the forthcoming event. Assuming they watch the pre-recorded webinar, you proceed with the sales funnel. You can always send a replay for one last chance to watch the webinar.
Membership Funnel
This membership funnel is created to sell membership. This is usually used in subscription-based membership sites. There are different ways sites could sell membership. For example, in a video membership funnel, a free trial is offered on the sign-up page. Then on the thank-you page, they are linked to a page where they create their profile and unique set of passwords. But on getting to the homepage certain contents are restricted and here membership upgrades are then offered.
Survey Funnel
The survey funnel aims to drive engagements with your potential leads. Here, they answer questions and give specific answers to the pre-determined questions you want to understand your audience. With this type of funnel, it makes segmenting your customer base a lot easier. By segmented leads, you can now redirect them to various pages with custom sales messages tailored to these categories of customers.
A typical survey would ask something like: “Do you think the dress is blue or pink”. Pending on the color they choose, you will either redirect them to the funnel setup that’s suited to that answer or simply tag them for a specific follow up drip campaign.
Video Sales Letter (VSL) Funnel
Instead of using long-form sales copy on-page, in the Video Sales Letter Funnel, you use a video to essentially read off the script. Some tactics marketers use is hiding the “add to cart” button until the sales pitch video has ended for the big reveal. This is not necessary although its relatively easy to do inside of programs like ClickFunnels. Another strategy would be to include an order form bump during the video, and then using upsells from there.
Live Demo Funnel
The live demo funnel involves building a sales funnel around a live stream, where you demonstrate the use of your product in front of a live audience. Facebook Lives are a perfect example of using a platform for Q&As and Demos, and then having links in the comments to a sales funnel.
This funnel creates an opportunity for the entrepreneur to engage with their customers. Here, the entrepreneur not only answers live questions, but also troubleshoots for those that may have already tried the product, or, if they have concerns about the product. This can also be done through Instagram live or YouTube live. During your live stream, you remind viewers where they can get the product you are currently showcasing and have them set reminders to be notified about future episodes.
Invisible Funnel
In the invisible funnel, you host an event and sell the ticket AFTER the event is over. This funnel operates by giving away a lot of freebies; customers get value upfront and they are only charged if the customer enjoyed it. It is similar to going to a restaurant and paying after you eat, that is, if you enjoyed the food. In this sales funnel a customer is asked to input their details and would be billed at a specified date in the future IF they liked the free training, although no money is currently charged.
In this sales funnel, a one-time-offer is given to the site visitor in the funnel, to attempt to increase average cart value. Then, regardless of the OTO answer, you have “additional products” offered on your “Thank you” page.
Product Launch Funnel
The product launch funnel involves building hype around your product. In the product launch funnel, the entrepreneur builds anticipation around the product, in some cases, creating a countdown before customers allowed to buy.
This funnel “previews” bits and pieces about the product by sending out emails to potential customers. The idea is to create artificial scarcity and a sense of urgency until the countdown is up, and it’s time to buy. The period in which customers are allowed to buy is limited to a particular time. A defining feature of this funnel is closing the cart after a period, usually a few days.
Application Funnel
The application funnel where you ask people to apply to work with you by using “take away” sale, where your potential client applies to become a client. Here, the clients fill out a questionnaire to see if it is a “right fit” to work with you. It also creates a sense of extra desire your lead gets by “hoping” they qualify and can give you their money.
Hero Funnel
In this sales funnel, you leverage your Attractive Character’s network, story, experience, amongst other emotion things. You use your story to build a follower list by forming a “pain point” connection that you once had, in an attempt to have your visitor relate with their situation. You start this sale funnel by sharing a bit of your biography with your potential audience. The goal is getting them to subscribe to your newsletters, having them follow you on your social media accounts, and following up with valuable content.
Ask Campaign Funnel
This is where your customers are made an integral part of your marketing strategies and what content and products to create. Here you ask them what they want, or what struggle they have before creating the product or content.
Using the ask funnel at every stage of your business to find out what customers want will always keep you in tune with your audience. It usually involves open-ended questions phrased, like “what is your number 1 challenge with ABC”? Responses from these questions become the basis of your offers. In addition to carrying the customers along, it helps to uncover false-beliefs potential customers may have had about your product beforehand. In some cases, a reward system may be created for the customers for answering the questions.
Daily Deal Funnel
This involves making evergreen “irresistible” offers to new customers. This funnel was popularized by companies like Living Social and Groupon, where they made irresistible offers to customers right off their landing pages. You can do this by simply creating a specific promotion supposedly targeted towards new customer audiences. It is a simple two-page order: first, a squeeze page where they sign up for the special offer, and on the next page, they are given the deal (plus a great way to increase virility of a deal is to have an option to share with their friends).
Cancellation Funnel
This happens when a customer is trying to end a subscription, cancel a membership or is asking for a refund. Here, you might ask why they are canceling. Perhaps they don’t understand the product or offering? Doing a short quiz first, before proceeding them to the cancellation page, may allow you to figure out a specific issue and potentially attempt to save them by solving those issues. This strategy can help mitigate cancellations and refunds.
Summit Funnel
This funnel helps entrepreneurs provide value, while at the same rising to become a prominent figure in their industry. The entrepreneur creates a summit which potential leads sign up for free. Usually, the organizer will have interviews with people of interest in the industry, as well as a huge amount of knowledge and inspiration for users. After the summit, the entrepreneur upsells the recordings, which helps in branding and reputation building, making you an authority in your industry.
In building the summit funnel, you will have a profile for each of the people interviewed. It will contain their headshot, bios and kudos. After up-selling the recordings, a great strategy is to give a chance for your customers to share and invite their friends.
In Conclusion:
Every sale funnel is unique to each business, with the potential to make more money for each of their products and services. So, don’t be afraid to try more than one… because you never know which one will make you the next marketing superstar!
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