For parenting and family coaches, building a sales funnel offers a method for planning your monthly income, especially if your income bounces from high to low. The erratic approach can drive you nuts. Welcome to the series on funnels - sales, product, or client.
What Is A Funnel?
For an online business owner, sales occur after a series of steps, which is the funnel. A sales funnel is a fundamental marketing tool. However, many new and experienced entrepreneurs have no clear understanding of what a funnel is or how it works. Read on...you'll see how necessary a sales funnel is for a stable income and business growth.Imagine: You want a client to purchase a parenting book - that is the end goal. You start by inviting the site visitor to read any content on the blog, or a landing page on your web site associated with the book topic. The funnel refers to the how you lead a customer through the buying process.
A Simple Sales Funnel
- The basic sales funnel starts with free content. This typically begins with blog posts, videos, or social media content from Facebook or Instagram, and other information readers can access at no cost. This is the “top” of your funnel.
- Next, you’ll have an attractive offer that requires a very small exchange: trust me with your email, and you receive this offer. You’ve seen this type of offer all over the internet, and likely signed up for some. The offer might the free ebook or guide, video series, checklist, class, workbook, or other valuable content.
Once on your mailing list, you’ll then present your readers with a series of low-cost offers. Perhaps you have a low-priced ebook or a trial membership.
Customers who purchase your low-priced product move further down the funnel, and are presented with more, higher priced products. As they continue to buy, they move closer and closer to your top-end offers, which make up the bottom of your funnel.
How Your Funnel Works
- If you imagine a funnel, you can see that free content—at the top—is consumed by the largest number of readers. Below that, your extreme low-cost item (available only for the cost of an email address) attracts a smaller subset of the true freebie seekers. Next, your low-priced products bring in yet a smaller group.
- Finally, as you near the tip of the funnel, only the loyalest of fans and customers will purchase your highest priced offers.
Your job, as the business owner, is to ensure that your funnel leads buyers naturally from the top, free offers all the way to the bottom. The more buyers you can keep in your funnel, the more money you will make.
Most new—and even established—business owners can easily envision the top of the funnel, but if you truly want your business to grow, you must master the entire process, and that starts with understanding what a funnel really is and how it works.