How To Earn a Sustainable Passive Income with Sales Funnels
If you are reading this, chances are, you are already familiar with the “sales funnel” term or at least looked this up. However, determining what your key sales funnel is, could be an extra challenging and tedious task. Many online marketers spend or may we say waste too much of their time and energy going after leads that may not be as hot as they assume and ultimately, get nothing in return for their efforts e.g these leads don’t proceed in making a purchase. This is why you need to figure out a profitable sales funnel pattern that will give you the best results, while minimizing your losses. Of course, you can’t win over every lead and convert them into repeat customers that will keep on buying stuff from you.You goal is to convert as many leads as possible through an efficient sales funnel strategy. Here is how:
1. Building Awareness. This is the first top stage of the funneling process. This is where consumers check you out and start to learn more about your products or services, through various lead development tools. For example, you can post and share high-quality content that visitors can gain value from and establish yourself as an authority source in your field. Or you could launch a PPC Ad campaign for targeted ads so you can get more traffic to your online business website.
This is where you visitors become leads and express an initial interest in your product or service/s. This is a good opportunity to inform people about what you are currently offering and start engaging them to form mutually rewarding relationships. Your target here, isn’t to land a sale (yet), but to give your buyers enough information about your products and services or what they need so they can make their own decisions.
3. Evaluating decisions. This is the point where your potential customers start to evaluate their options and ultimately decide, whether they’ll take some action or not e.g make a purchase from you. This is where you can nurture your leads and give them incentives that will encourage them to take action e.g special email exclusive offers.
4. Taking action. The final stage is all about your customers taking action/deciding to finally buy from you. Once they do buy from you and have a positive buying experience, they will become loyal customers and even recommend you to others. This will, of course, widen your sales funnel and keep it going.
So how you can actually make some cash through an online sales funnel?
Here are some methods to try out:
- Creating an impactful landing page. A landing page is the first glimpse of your website a visitor gets, which ultimately makes or breaks a good first impression. The main question you have to ask yourself when building your landing page is this: how do you want your visitors to react? The ultimate goal of course, is to directly make them hit the “order/buy it now’ button, but not everyone will be willing to directly purchase from you. Getting them to at least sign-up to your email updates and nurturing them along the way may be a middle-way funnel to convince some leads to take further action.
- Showcase a front-end offer. After acquiring a list of email leads via your email marketing campaigns, the next step would be to give them a front-end offer that will give them some value without getting them to pay high and oftentimes risky (for them) amounts. Low-ticket offers (up to $50) are good for enticing some reluctant customers (that don’t wish to spend more money yet) into familiarizing themselves with your product and services and perhaps, make them ask for more.
- Provide an up-selling offer. After nurturing your leads with the steps highlighted above, the next step would be to provide them with an up-selling offer. A typical up-selling offer would be anywhere between $50-300. However, you have to convince them that they’ll gain more value out of something basic. Some up-selling offers are exclusive webinars, tutorials, video programs, product usage tips, affiliate marketing offers, etc. These make good ways to widen your sales funnel and growing your online business profits.
- Suggest a downsize alternative. Of course, not everyone you share your upselling offer with, will be willing to spare such a high amount on a product or service they aren’t sure of. If and when such thing happens, you may lure them in with a less costly alternative and make sure that they are fully satisfied with your product or service. That way they can become loyal customers and even share the word about your product or service with others.