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A properly designed sales funnel is the backbone of any kind of successful internet business. If you have a strong sales channel, you’ll have the ability to make the most of every site visitor. This permits you to funnel cash right into more products, marketing, staff, and growth in general.
Having a good list-building plan is the most critical element to an effective sales funnel and belong at the very beginning when a person is just a cold visitor or potential lead.
Even with the proven statistics, that differentiate multi-million dollar online properties from those that barely earn a dime, the importance of generating targeted traffic along with your optimized sales funnel is overlooked and the area of least spend when it comes to marketing and lead generation. This mistake costs online businesses a lot of potential profits unnecessarily.
Below are 5 of the most typical blunders and just how to avoid them (excluding the one above):
Blunder 1: Not Split Testing E-mail Opt-Ins
Your e-mail capture page is the initial step in your sales funnel and is the most important. Take advantage of convert that cold traffic into customers or buyers by building relationships and trust.
Any lead that does not opt-in to your mailing list, is a lost forever. So STOP wasting your leads! A boost from a 10% opt-in rate to 13% opt-in, as, is a 30% increase in sales. Not just leads. That means you will make 30% more income overall. If you split test nothing else in your sales funnel, make sure to test and optimize your email opt-in page regularly.
Blunder 2: Presenting Yourself with a Sales Pitch
Never come on too strong, too early in your sales pitch. This makes for a very bad first impressionÂ and does help foster relationships with your customers. They want to know you actually care and have their best interests at heart.
At first, brand-new subscribers have no ideaÂ who you are. They do not trust you and quite frankly care less about your offer and more about who you are. If you come out the door all hardcore, they’re going to presume that that’s all you’re about.
Instead of doing this, offerÂ value, provide fantastic content, and be your own person. Build trust and a goodÂ reputation initially, prior to the sell. It’s okay to speak about your offer a little at first, just do not overdo it.
Remember, you want to be considered an expert in your niche or industry. Not a fly-by-night desperado!
Blunder 3: Thinking Leads Are Worthless If They Decline
If somebody does not purchase your $37 product or services today, it does not mean they won’t buy a $1,000 course later. Leads are leads, and as long as they are on your list, you have opportunity.
Think of it this way. What if your cheaper lower end product is not exactly what they are looking for right now?
Blunder 4: Not Cross-selling on other Related Products
The best time to up-sell and cross-sell is when someone has just purchased your product or service. They’re in the right mindset, already have their buying hat on, and are far more likely to buy more impulsively as long as it is related to their initial purchase and offers legitimate value.
If your conversion on a $297 product is 1%. Offering that at a discount to those who buyer your initial $37 product or service could lead to 30% buying. That’s a conversion rate you’ll never ever see anywhere else. How does it work mathematically? Let’s see…
1000 people visit your landing page. With 1% conversion that means 10 people buy. That means $2970. Not bad really. But lets look at a 10% conversion on your $37 product with the same traffic. 10% is not unreasonable with targeted traffic. That is $3700.
It is always better to have lower-end products with increasing up-sells. Now if of those 100 people, 30 purchased the $297 upsell what would that be? Holly Moses… $8910 + 3700 = You do the math!
Even with far more conservative conversion numbers you would do well. That is not including if you were able to convert some of the non-buying traffic to join your list. After a while how many of those might still buy since your such a cool person?
See to it that you’re making the most of your funnels and buyer frenzy using your “Thank You” pages as a marketing tool.
Blunder 5: Not Covering the entire Spectrum of Potential Product Offerings
Do not just have one low-end or high-end product. Either will kill your business. Have both and more in between. There are people in your market who’ll gladly pay $2,000 or even perhaps $5,000 for a product or specialized service like a boot camp, personal mentoring, consulting, etc.
The sky truly is the limit… but you have to build up to it. Have great quality lower end products early in your funnel, build and maintain relationships, and you will see what I mean. But they need to see you as the expert first!
Give people the opportunity to invest in you, and give them something worth investing in.
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