Every successful entrepreneur has a money making online business funnel. The question is, “Do you?”
An online business funnel refers to the steps through which a business owner leads their customers towards making a purchase. This is a critical component of your online marketing efforts. Without it, you won't get far.
According to Marketbridge research, a connected marketing and sales funnel drives a 14.5% increase in sales productivity. Despite these numbers, one of the biggest challenges that business owners face is attracting traffic to their website and converting that traffic into sales.
If you are confused about how a business funnel works, I'm here to simplify the process for you. If you want to make money in your online business, you need to create one. Lead generation doesn't have to be difficult if you have a system in place for converting leads into customers.
It's time to stop guessing and start growing your online business the right way. Are you ready to learn how to create a money making online business funnel?
Watch the video below:
Are you ready to learn which online business model is best for you to start? CLICK HERE to take my quiz!
Have you identified what your money making online business funnel is?
If you haven't, you aren't alone. New data from HubSpot reveals that 68% of B2B organizations have yet to identify what their sales funnel is. A lot of business owners spend too much time chasing leads, but how do you know which leads or hot or cold? You don't, unless you have a system in place for attracting, keeping, and growing your customer base.
I encourage you to stop spending all of your time trying to find new customers, and instead focus on adding massive value to your current customers. This is why you need a money making online business funnel. It is one of the most successful marketing techniques in order to attract more leads to your business. Without it, your online presence will be non-existent. When you understand what it is that your customers need, then you can create solutions that are in alignment with those needs, while guiding them through the sales process. The result? Higher engagement and and conversion rates.
All online business owners experience leaks in their sales funnel at some point, but many of them don't know why it is happening, and how they can fix it. If you've got a leak, that means that you are either not communicating your message clearly, not nurturing your leads effectively, or your content isn't high quality enough.
When you actually know what your money making online business funnel looks like, you can focus your time and effort on the area that will help you generate more leads and increase sales for your business. Before you can do this, you need to be aware of what the different stages of a sales funnel are, so that you can best optimize your sales leads.
Stage 1 – Awareness
The first stage is the highest stage of the funnel. This is where your leads learn about your product or service, and are drawn to your brand through lead generation efforts. Let's break down some common strategies for attracting new prospects.
Writing high-quality content that educates and inspires readers is a great way to establish credibility in your industry. More importantly, when you publish content on your website, more people will be able to find you in the search engines.
In today's digital world, consumers rely on social networks and referrals when they are making buying decisions, so a great way to spread awareness about your online business is by leveraging the power of social media, through the use of Facebook or Instagram ads.
Lastly, Pay-Per-Click (PPC) campaigns are a great way to attract new visitors to your website. Yes, it costs money to advertise, but it takes a lot less time to earn those visits, than if you do it organically.
Stage 2 – Interest
Once you've captured the attention of your leads, they start to express an interest in your product or service, but they aren't ready to buy. Here lies an opportunity to educate people on what it is that you have to offer and start to develop strong relationships with them.
Product webinars or demo videos are a great way to incite interest. Keep in mind that the goal is not to get a sale, but rather to educate prospective buyers and provide with them knowledge about who you are and what you offer.
Stage 3 – Desire
Once your leads are seen as prospective customers, they move to the desire stage, where they start to make decisions, with regards to how they want to take advantage of the solution that you are offering. This is a great opportunity to send your prospects more information about your products or services through email campaigns, while continuing to nurture them along the way.
Stage 4 – Action
The last stage in the sales funnel is purchase, where a prospect has made the decision to buy from you. If the buyer has a positive experience they will buy more from you, and refer other people to your online business. This will continue to fuel your online business funnel and keep the process going strong.
Now that I've broken down the funnel stages, let's talk about 4 ways that you can actually create a money making online business funnel.
1. Design An Eye-Catching Landing Page
A landing page is the first impression that a visitor gets when they visit your website. How do you want them to feel? Keep in mind that the end goal of a landing page is to convert visitors into leads or customers. However, in order to inspire people to want to sign up for your email list or subscribe to your website, you need to entice them and demonstrate the value that you can offer. This is why your landing page design and is so important.
Research shows that, around 68% of B2B brands use these types of pages to boost lead generation and improve conversion efforts. Clearly a well-designed landing page is a great way to drive sales to your online business. If you aren't using landing pages as part of your money making online business funnel, it's time get on board!
2. Present A Front-End Offer
Once you’ve got prospective buyers on your email list, through a lead magnet or an opt-in page, now you need to present them with an inexpensive, low-ticket offer to buy your product or service. This is anything that sells for between $1-$50, which could be in the form of introductory courses, affiliate marketing, videos, free plus shipping offers, continuity programs, audio, paperback, or eBooks.
By providing them a low-cost front-end offer, you lower buyer risk. The focus with low ticket offers is about building long-term relationships with your customers so that you can really monetize and maximize your profit on the backend. Keep in mind that, with low ticket offers, oftentimes the goal isn’t even to make a profit. Rather, it’s solely to break even and acquire new leads.
Whatever goal that you have in your online business, you can achieve it solely off of low ticket offers, but you will have to sell a lot of products. However, if low ticket offers are the only thing that you are offering, you are missing out on opportunities to make a lot more money.
A front-end offer provides you with an opportunity to nurture a desire in your customers to want to buy again from you, by promoting the next product or service in your money making online business funnel.
3. Present An Upsell Offer
Once you have engaged and nurtured your leads, you want to funnel them into a mid-ticket offer, which is anything that sells for between $50-$300. This could be membership sites, audio and video programs, intermediate or advanced training, software, affiliate marketing, or coaching.
At this point, your leads no longer view you as someone who is just trying to sell them something to make a buck. Rather, you are viewed as someone who has their best interests at heart, because you have taken the time to nurture a relationship with them.
Ideally, you want to funnel your customers towards high ticket offers as well, which is anything that sells for between $300-$1,000. This could be more advanced trainings, membership sites, coaching, affiliate marketing, events, or expensive software.
Based on my experience, high ticket offers are the best way to build a profitable and sustainable business. However, they are also one of the hardest things to sell. Getting someone to invest in a $1,000 course when they don’t know who you are is a lot to ask, which is why it requires more marketing and trust building than a low-ticket offer does.
This is where the power of something like a webinar funnel comes into play. This is a great way to showcase what you have to offer. It helps to warm your leads up and builds the trust that is necessary in order for them to want to buy from you.
Eventually, you want to get to the point in your funnel where you are offering extremely high ticket offers. These are any services that sell for over $1,000, which may include coaching, masterminds, events, retreats, or done-for-you services like website development. However, if your whole business is based on these kinds of offers, you will be limited in how much you can scale up, because there are only so many hours in the day.
4. Offer A Downsize Alternative
When it comes to selling your products or services, you need to keep in mind that not all customers will want or be able to buy an extremely high ticket offer, but you don't want to lose these people. Offering a downsize alternative is a great way to keep these people in your funnel as potential customers. You never know if and when they will want to buy from you in the future.
5. Keep The Process Going Strong
The last step in your online business funnel is to maintain energy and momentum. Continue to nurture the relationships with your buyers by following up with them and ensuring that they are satisfied with the product or service that they purchased from you. This is how you will sustain customer loyalty, long-term.
This is how to create a money making online business funnel.
This is just some of the content that I shared in my Online Business Mastery Mastermind event. If you are interested in getting notified about my upcoming events, click here.
An online business funnel is critical to the success of your business. Once you have one in place, you can create a consistent process for engaging with your leads and building trust at every stage of the sales process.
Don't forget that your money making online business funnel is a never-ending process that is always evolving, depending on the needs of your customers. Always be asking yourself, “How can I serve and add unbeatable value to my customers?” That is the kind of mindset that will keep your customers coming back for more. In the words of Napoleon Hill, “The man who does more than he is paid for, will soon be paid for more than he does.”
What are you waiting for? It's time to start mastering your business's sales funnel!
Are you ready to learn which online business model is best for you to start? CLICK HERE to take my quiz!