What is a sales funnel and why do you need one to grow your online business?
Ahhh…great question and I’m so glad that you asked.
As you know, the goal of online marketing is to get the consumer to take action. It can be as simple as clicking a link or as rewarding as purchasing a product or service from you.
A sales funnel, simply put, is like the ‘road map’ or process that consumers go through from the moment they become a prospect, to the moment they purchase from you. An online sales funnel is not a whole lot different from a traditional sales funnel – consumers are collected, qualified, convinced and then converted into customers (hopefully raving fans if they love what you provide).
There’s no question that when you are just starting out, you should be focused 150% on working with clients one on one. That’s the fastest path to cash and the easiest way for you to create amazing results for your clients so that you establish a track record of success and a strong reputation.
Once you have those first few clients and notice that you are able to consistently bring in a few clients each month, it is time to start thinking about your sales funnel.
When I talk with my clients about how money isn’t a real excuse, I am not being completely upfront. What I mean by that is when a prospect says that he or she can’t afford to work with you one on one, then that is an opportunity to dig deeper and ask questions to make sure that (a) you are connecting the clients need to the value that you offer, (b) that there is a sense of urgency and that you have (c) earned the trust from the prospect that you can deliver what you are promising to them.
When you ask clarifying questions and uncover that the 3 reasons listed above really aren’t the reason that he or she isn’t able to work with you, then they may be telling the truth. Money really may be an obstacle for them right now.
And that’s OK.
Because that is where the sales funnel can help you to grow your online business and to work with more clients.
By moving clients along in your sales funnel, they are able to achieve the results that they need – or that they can afford – right now. They are still actively engaged in you and your services, but at a lower price point. Maybe in 6 months they will move further along in your sales funnel. Maybe they won’t.
Either option is great because you’ve created a win-win situation. Your client gets access to you and what you offer and you are able to serve them with a smaller time investment. They get a lower price and possibly less access to you than they would if they agreed to work with you one on one. You invest less time in services specific to that person and you earn $100, $200, or $300 from this client. Maybe it’s a one time purchase or something that is paid for each month. If you have 10 clients that are interested in working with you at this lower price point, all of the sudden the numbers start to add up and you have a very nice additional revenue stream.
What I want you to consider is this: If you are working with clients one on one now and are interested in growing your business online, look at your offerings. Consider offering group coaching packages with limited access to you or use your Signature System to create a DIY training that is available for instant download. Brainstorm (HIGH LEVEL, no specifics at this point) at least 10 different types of offerings that you can put together in each of these price points: <$100, $100-$499, and $500-$999.Now choose the two ideas that get you the most excited and start working on them today.
Please share: What offerings have you created to meet your clients where they are money-wise and to support them in ways other than working with you one on one?