Passive Income Strategy – Make Money While You Sleep Using Sales Funnels
If you want to start making some cash through sales funnels, you have to understand everything that makes a sales funnel in the first place. In a few words, a sales funnel is a series of stages that a buyer goes through till they finally take a decision and make a purchase. This is possible through various methods and channels. As an online marketer or online business owner, you better take advantage of these stages and feed your prospects through the funnel so they ultimately become customers. Some ways you can do these are via targeted ads, email, word of mouth referrals, special offers, social media buzz etc.
The second phase would be to promote and establish yourself and your brand as a source of authority, trust, and value. Someone that convinces others to gladly spend their money on. Of course, the price and others factors play a role here. It will takes more more to convince someone to buy a $3K product as opposed to something that costs $50.
Finally, the third phase would be to make a sales pitch or in some cases, multiple sales pitches to sell your products/offers. In the past, this stage was too simple yet limiting as it involved only one or two tools e.g paid newspaper or T.V ads. However, ever since the emergence of online marketing, the sales pitching process has become more automated but at the same time, more complex. Nowadays, sales funnels include tools like lead attractors, freebies, opt-in perks, and other things designed to catch the attention of consumers and guide them to take further action.
So why you should use online sales funnels to grow your business?
Ultimately, since traditional sales pitching is time-consuming and you can’t approach your clients in person like you used to, online sales funnels are vital to attract customers and business in general. You need to offer your client enough reasons to buy from you and this made possible via sales funnels. Here is what a sales funnel can do for you in particular:
Generate Trust. Trust is often overlooked in online marketing, but in reality, failing to earn the trust of your customers won’t land you a single sale. The customers always do their business with people and brands they trust. We all do this. Every time we see a spam banner ad from a dubious seller that writes “Gucci handbag for $100”, we instantly think that something fishy is going on and we simply ignore it. Same goes for any customer out there. If the believe that what you offer is either too good to be true or on the contrary, they don’t think they are going to gain value from your offer, they won’t purchase anything from you. In the online words, people are extra careful to whom or what they spare their cash on because simply there too many options. And you need to find ways to set yourself apart from the competition and gain buyer’s trust.
Let the buyer make an evaluation. During this phase, your customer may be aware of your product/service, but they aren’t fully convinced that they may gain value out of it. This is where you can use a sales funnel to your benefit. You could, for example, offer them a free report, course, webinar or sample and let them decide on their own if this will be the solution to their problem or the value they’ve been looking for. Offering just a small taste of what they are going to get once they purchase from you, is enough to make some people hit the order button.
Build Engagement. This is where things get extra challenging as perhaps at this point, you may have leads that have already expressed an interest in your product or service but they are stuck and need some gentle push or nudge to actually BUY something from you. Building engagement here, as your sales funnel is crucial. You could for example offer them a discount for a limited time only or single bonus offer or free gift. They have to get encouraged to buy something. And once you get someone to make a purchase, you can re-market to them to up-sell your products or services or give them reasons to become loyal customers.
This why using a sales funnel is very important for your online business. It is a fool-proof strategy that you can use a zillion of times to catch and keep customers from scratch till the finish. Once you establish a solid basis, you can put buyers back in the cycle again and again. You don’t have to make any crazy tweaks or changes to this cycle if you develop it correctly. Of course you have to launch new campaigns every time, but the steps will roughly be the same and you will eventually become better and better at it.