Join me @ IBOtoolbox for free.
Andrew Mitchell
Member Since: 1/18/2013
  
performance / stats
Country: United Kingdom
Likes Received: 92
Featured Member: 0 times
Associates: 155
Wall Posts: 655
Comments Made: 24
Press Releases: 149
Videos: 15
Phone:
Skype:    
profile visitor stats
TODAY: 30
THIS MONTH: 419
TOTAL: 87687
are we ibo associates?
active associates
Richard Millner    
Last logged on: 2/15/2019


Jones Gore    
Last logged on: 2/15/2019


Lonnie E. Shipe, M.A.    
Last logged on: 2/15/2019


Katarina Hofbaur  
Last logged on: 2/15/2019


VOU Deals    
Last logged on: 2/15/2019


Bill Bateman     
Last logged on: 2/15/2019


Marty Cooper    
Last logged on: 2/15/2019


Bob & Shirley Rushing    
Last logged on: 2/15/2019


Betty Waldron    
Last logged on: 2/15/2019


Steve Motley    
Last logged on: 2/15/2019


Jimmy Diggs    
Last logged on: 2/15/2019


George Pierce    
Last logged on: 2/15/2019


James Kelly    
Last logged on: 2/14/2019


Richard Mathiason    
Last logged on: 2/13/2019


Bill Douglas    
Last logged on: 2/12/2019


other ibo platforms



Andrew Mitchell   My Press Releases

What is a sales Funnel

Published on 10/20/2018
For additional information  Click Here

My Image

You may have heard the ‘sales funnel’ term before and are probably wondering what it is or better yet, what does it do?
A sales funnel is the most systematic way to build trust, to build a relationship and to encourage people to want your brand before making a sale – and it is incredibly powerful when done well.

Take a look around the web and chances are that you’ll have come across a large number of sales funnels without even realizing it. Amazon has perhaps the largest and most effective sales funnel in the world, have you noticed how items from Amazon follow you around and how you are offered ‘other’ items when looking at one in particular?

So, let’s see, what exactly is a sales funnel? How does it work? And how can you tap into its power for yourself?
Once you understand the science behind this, you’ll see why it’s the most effective way to build profits and you’ll be able to turn any product or service into a massive success. 

So, what is a Sales Funnel? 

Before we go any further, it would perhaps be useful to explain exactly what a sales funnel is and what you’ll be using it for. In essence, a sales funnel can be imagined like a funnel for customers. You start out with a broad opening to capture as many leads as possible and then you gradually narrow those leads down to only the most engaged and interested customers so that you can sell to them. All the while, you’ll be building trust, building engagement and priming them ready to make a sale.
My Image
You can also think about this as a ladder, which each rung taking your customers closer to the top where you’ll eventually try to sell to them. In practice, what this means is a series of different marketing strategies, each arranged in such a way as to build more and more targeted leads for your business. So you might start with a simple advert, or a blog post and Before we go any further, it would perhaps be useful to explain exactly what a sales funnel is and what you’ll be using it for. In essence, a sales funnel can be imagined like a funnel for customers.

You start out with a broad opening to capture as many leads as possible and then you gradually narrow those leads down to only the most engaged and interested customers so that you can sell to them. All the while, you’ll be building trust, building engagement and priming them ready to make a sale.

My Image
You can also think about this as a ladder, which each rung taking your customers closer to the top where you’ll eventually try to sell to them. In practice, what this means is a series of different marketing strategies, each arranged in such a way as to build more and more targeted leads for your business. So you might start with a simple advert, or a blog post and then move on to an email list, then a ‘free report’, then a seminar, then a small product sale and then a big sale.

Each of these marketing stages is a rung on a ladder, it’s a little further down the funnel. And each time a customer clicks on the next link, or follows you to the next step, they are becoming more and more likely to buy from you. As mentioned, there’s a good chance you’ll have encountered different sales funnels in your travel around the web: and you may even have bought products from others through this method.

You might have come across a blog and signed up to the mailing list for instance, and then been told to click on the link therein in order to see a free seminar. And then maybe the free seminar asked you to sign up for the next seminar which would cost a little money. And you may have come across it on YouTube too. For example, Tai Lopez is something of an inscrutable business man who is willing to use everything at his disposal to capture new leads and sales – even when that involves a bit of bare-face lying (that’s not his car and not his garage!). But he still employs a sales funnel very well. If you go on YouTube to watch a video, his ad will very often show up.

My ImageThe guy then goes on to talk about his cars or his massive house and this makes you want to watch – even if only because it annoys you. At the end of the video, he offers to show you how to get his three most important tips for making money. And because it’s free, why wouldn’t you click it? Only at this point, you’re becoming more and more involved with his brand and more and more likely to become a paying customer. When you watch this ‘free’ video, which is on his site or channel, you’ll then be told you can get even more information by signing up for a free report. In fact, this report is key to understanding the video. If you do this, then Tai now has your details and the confirmation that you’re interested in what he has to sell! You’ve gone from a ‘cold lead’ (someone on YouTube, targeted based on your video watching choices), to a ‘warm lead’ (someone who has demonstrated an interest) to eventually a ‘qualified lead’.

The way Tai does this is a little transparent and a little cynical – but it’s how all the big names operate including the likes of Tony Robbins, Tim Ferriss and Pat Flynn. And it’s exactly what you should be doing if you want to make sales. Note that this doesn’t mean you have to con people!
Just that you need to think about your marketing strategy in steps and stages and understand the psychology of the way you’re dealing with people. 

Understanding the Funnel Stages 

Let’s say you are standing on street corner and someone you don’t know, or trust offers you a watch for $100 dollars – what would say? You don’t know who this person is, you’ve been given no reason to trust them and you’re probably not going to want to hand over any cash. That’s why companies don’t do this. Instead, they give you fliers. Fliers are things you can choose to accept or throw away – but either way, they don’t cost you anything and you won’t feel that you’re being pressured into anything. Other stores do something different: they give away freebies. Walk past Starbucks and you’ll often find them giving away free samples of their new drinks and cakes for you to try. Again, you can easily walk away if you’re not interested and you won’t feel you’re being strong-armed. If you like the free sample though, then you can come in and try whatever else they’re offering.

If you try and sell to people right away on your website though, then you’re the equivalent of someone trying to sell thousand-dollar watches in the street. And if that’s the only thing you’re offering and the only way that your visitors can engage with you, then they’re just going to say ‘no thanks’ and leave, giving you no way to contact them again and no way to get them back. As you might have guessed, this is a poor strategy! Try to imagine it from their perspective: they have typed ‘fitness tips’ into Google, found your page essentially by accident and now you’re trying to sell them your training program for $500. People do not make decisions on that basis unless they’re loaded with cash. They’ll see you’re trying to sell them, write you off as spam and then leave. 

The Alternative 

Now imagine the alternative: the sales funnel technique – the courtship! 

My ImageThey do the same thing: they type in ‘fitness tips’ and they land on your site where they get some great information right away. That information is unique, interesting and useful but at the bottom, it tells the audience that if they want more great tips – your ‘5 Most Powerful Tips’ – then all they have to do is to enter their details to receive your free report.

There’s very little reason for them not to do this: you have demonstrated that you’re able to provide value and you’re offering something for free. The only price they pay, is to allow you to contact them in future – but as you will point out, they can always just unsubscribe if they don’t want to hear anything more from you. They get their free report and once again, they find it is really good. At the same time though, they’re now getting emails from you – emails with highly engaging and interesting subject lines. The people who click those emails are now showing very good engagement and you can see that they’re the kinds of people that might be willing to buy from you.

Those people will receive an email on an automated basis that invites them to an exciting free conference where they can here you talk online about fitness. This is a great, rare opportunity and if they like what you’ve done so far, they should definitely get involved. They do that and because they’ve gone so far out of their way to hear you and they’ve listened to the whole thing, they’ve now made the full transition to fan.

They are now engaging with you in a big way and going out of their way to hear more from you. This makes a massive difference because in their own mind it will inform them that you are someone they’re interested in hearing more from. 

The Five Touches 

Hopefully you now understand how a sales funnel works and why it’s such an important tool for maximizing your sales. At the same time though, it’s worth noting that the steps themselves don’t need to look like this. You might not yet have a mailing list, you might not have a seminar – but you can still create a funnel.

What’s important, is simply that you have a series of escalating ‘steps’, with each one increasing engagement and building your fan base further. So the question now becomes: how many steps constitutes a ‘funnel’? While this varies from case to case, the best answer is five. That’s because research tells us that it takes five touches to sell to someone. This means they should interact with your business at least five times before you try and sell your big-ticket item. This is enough to take someone from being completely unaware of your brand, to being familiar enough with you that they are willing to put their money and their trust in your products.

GET YOUR OWN SALES FUNNEL HERE

Member Note: To comment on this PR, simply click reply on the owners main post below.
-  Copyright 2016 IBOsocial  -            Part of the IBOtoolbox family of sites.