This is a 5 part marketing funnel that will work for most businesses.
Using a proven funnel formula will increase your sales using your existing traffic by a marginal percentage.
Optimizing conversions involve 5 basic steps that can quickly turn traffic into liquid revenue.
5 Steps Funnel Formula
The 5 parts to the funnel will work in every market. Physical products, local business, or online niches, and affiliate sites.
If you have been marketing your business for any period of time you will recognize and likely already been trying to implement some of the steps. There is a bit of an art form into setting them up properly and executing them.
When all five steps are used together it is a powerful tool that can change your business. Each step can be optimized. When you are split-testing this funnel set up, the LAST thing to test for conversion is price.
1. The Lead Magnet is something many are familiar with but many don’t use it to its fullest potential. Weak offers and poor follow up leaves money on the table.
The practice of using lead magnets at the front end of your funnel isn’t anything new, but how you are handling it could probably use some expert advice. The offers should be of precise solutions that can be consumed in a few minutes. Not of these 7 day course.
2. The Low Price Front-end Offer is a little something to get people to pay you for. A paying customer is worth far more than just a lead. The likelihood of someone who buys a front-end product committing to buying the main offer or an up-sell are much greater. Pick something that they “have to have” like an impulse buy, but related to the core offer.
3. The More Offer is what you and your company are known for. Presenting your main offer in a way that people will want to buy immediately. You can add in things like scarcity as in “act now – only 10 left”, or show irrefutable proof to your buyer that your product will solve their problem
4. The Profit Maximizer is the upsell, cross-sell, or enhancer style of offers. For example you can sell someone a book or course on how to do something, then upsell to a “done-for-you” service. You can sell one thing which could be a website for their business, then cross sell to SEO service, PPC etc. There are several types of profit maximizes that you could certainly find to take advantage of in your business.
5. The Return Path is where you gather up the stragglers. Get them back into the funnel to buy and increase the number of transactions from your current customer base. This is done in several ways but the end effect is to ensure you have continuous communication and contact with your leads and buyers.