How To Build A Profitable Sales Funnel For Your Business

Last week, we looked at how hosting webinars can be a great way to grow your business. One of such benefits was lead generation.
So, you have successfully identified your target market, generated a good number of leads and you are wondering how to keep your sales conversions high. I will suggest that you set up a sales funnel.
Setting up a sales funnel can be quite tricky. I find that it’s something that requires skill and technique. Building a strong sales funnel can be compared to having a sales team working automatically for your business. This will give you time to focus on other aspects of your business, and increase your cash flow significantly.
Here’s how:
Establish a place that sends all prospects to the “Awareness” stage of your funnel:
This could be a storefront, a website or a link on your social media bio. If you intend to use paid marketing options to generate leads, I’d recommend that you set up a squeeze or landing page (which contains a free offer that shows them what you’re offering and how it would help solve their problems) to ensure that your prospects don’t get connected to your brand.
What’s your value proposition?
Your offer can be your product or service; however,  to ensure quick sign up and sales, it is best to create a free or very affordable initial offer. This makes your prospects eager to sign up and gives you the opportunity to lead them through the different stages towards the ultimate goal: sales!  For example, you could use a hook (your lead magnet) such as a free ebook, industry reports, case studies, a check list and other items that would be beneficial to your prospects.
In exchange for the free offer, they give you their email. With the email, you deliver the free product to them.  The rapport doesn’t end there though. With their email addresses, you can send them more information and resources that they would find beneficial. This would increase the rapport between you and the prospects.
And guess what happens? They begin to take a liking to you/your business and are interested in what you have to offer. Many online businesses (and offline businesses with an online presence) use this similar funnel: free offer in exchange for email > email to build interest that leads to a sale.
Another method you can use (if you’re online) is to set up a multi-page funnel that includes an irresistible free offer and then several paid offers. For example, if I run a content creation agency, I could offer each prospect a free 10-minute consultation signed up for via email.
The next page can then lead the prospect to a special offer of a content calendar for N7, 500. If the lead buys the organizer, the next page can offer 2 weeks caption creation services for N15, 000.   And if the lead skips these pages, you still have their email. So, it’s possible they could buy if you offer it to them in the future.
Learn from your competitors
While I’m not advising that you spy on your competitors, it’s important that you know what your business competitors are offering. When you’re armed with this knowledge, you can even offer a better product or service and add-on service(s) to your customers and theirs.
When gathering information, check out the websites and social media pages of your top 15-25 competitors and download their magnets. You can also sign up for their mailing lists. Study them carefully and gather all the information you need in a spreadsheet. What value are they currently providing? What flaws have you noticed? And how can you leverage this knowledge to your advantage?
Provide an irresistible lead magnet
Now that you’ve gotten the necessary information you need, you need to do better than your competitors. And the best way to achieve that is to offer an irresistible lead magnet. How is it achievable? Provide free value than what’s in the market to your prospects.
Does your competitor offer a free 3 days course? Extend yours to a week. While it might feel like a waste of time, energy and resources; trust me, these strategies will pay off eventually. Your customers will feel grateful for your generosity, which will translate to loyalty for your brand and ultimately lead to more sales.
Insert a CALL-TO-ACTION at every stage of the funnel
Most times, business owners assume that prospects would know what to do to get the information required. And that’s a major mistake! You need to tell them to sign up for your free ebook or report, join your membership, or buy here. For example, if your funnel’s aim is simply to build an email list, the next page should be a thank you page telling them to check their email for the free gift.
The stark truth is that if you disappoint your prospects at any stage of the funnel, not only would you lose that sale, but any potential future sales as well. Therefore, at every step of the funnel, always deliver quality. Never settle for mediocrity.
Provide information and resources that would keep your prospects glued to your business
Do not assume that because they didn’t buy now; that it translates to cancelling all forms of interaction. Far from it! Instead, stay in touch and direct them through the “Interest and Desire” stages so that they want to buy.
However, while pursuing this category of people, don’t forget those who buy from you too. These leads will likely buy from you constantly if you follow up/stay in touch and continue to offer them a good value.  Things that can help you deliver quality and value and keep them interested include:
  • Content—articles, eBooks, checklists, tips, and other information;
  • Case studies or white papers;
  • Videos;
  • Webinars; and
  • Mini-courses.
Ask them to keep in touch with you
Getting sales or a lot of signups? Excellent! However, don’t just set up your funnel and neglect it. Along with emailing your leads telling them to stay in touch and providing awesome content, you need them to engage with you.
Thanks to social media, they can know more about you. For example, you can create a private or public WhatsApp or Facebook group where your prospects can ask questions, share their experiences with you, etc. Offering special trial offers and free consults are another way to ask leads to engage with you further so you can show off your expertise.