Today we’re going to talk about funnels. They’ve always been around, they’ve always been used, but there really hasn’t been any real information out there about them. The concept of funnels is an eye-opener and it makes so much sense to implement these kinds of things into your system.
There are many different ways you can use a funnel. There are funnels for lead generation, there are sales funnels and there are funnels for practically anything. Funnels can literally transform your business. Depending on what kind of funnel you’re talking about it goes from the top of the funnel which is where your customers don’t know who you are all the way down to sales or generating leads. Our focus today is on lead generation funnels, sales funnels and email funnels.
Lead generation: eCommerce business owners tend not to pay attention to lead generation as much as sales funnels. It’s hard to get them to see the value of just an email address lead. People aren’t going to just buy from you the first time they see you. Getting someone on your list might not mean they will be a buyer today but they have the potential of being a lifetime customer later on. Email is the highest converting medium out there. It’s higher than any social media. However, people aren’t going to just give you their email address which is why a lead generation funnel is so important.
Sales funnel: Some of the more fun funnels are sales funnels. You can tweak something here or there and increase your revenue by 30%. That’s where the whole upselling and cross-selling and down selling come in that we talked about in episode six. There is only three ways to grow your revenue: more traffic, higher average order value and conversion rate. The average order value is the easiest because you don’t need any more traffic and you don’t need one more person to come to the website. You can drastically change your revenue by using a sales funnel which again is a system you send somebody through. You can do it before the sale, after the sale or at all different times.
Email funnels: With content marketing email funnels are really something that you have to implement in your business. An email funnel can be used a number of ways. You can use it to re-target people who’ve abandoned your cart or your customers who have purchased from you and you can send them through an email sequence that upsells them to a similar product. Email is the only platform where you can market to your customers when you want to.
- The Invisible Selling Machine by Ryan Deiss. In this book, he talks about a funnel that he brings everyone through in his email. The idea is you send them through this process that takes them from cold traffic to rabid fan type thing.
- The Miracle Morning by Hal Elrod. This is a life changing book that we highly recommend.
In closing, we want you to think more outside the box and learn a little bit about funnels and about how these big companies are really making their money. They’re making it through funnels, not by trying to get more people to the website.