A sales funnel is another of those marketing terms that you are supposed to know all about. They can be long and complicated or very simple. Every time you provide your email address to optin for a product you have interacted with a simple sales funnel. The term implies one piece of software is in use. This may be the case if a program such as InfusionSoft or Ontraport is being used. However the funnel may have been setup by using various items that are interacting with each other via the use of api (application programming interface) link.
This is a very simple sales funnel designed to capture email details in return for the download of a free optin. From this point sales funnels can become very complicated with many points of conditional logic such as IF this happens then DO THIS. or IF this doesn’t happen then DO THIS.
The entry point into a sales funnel can also be very varied e.g from social media, from a website, landing page, via face to face contact, anywhere an interaction occurs. Once inside the funnel only a small percentage of those who enter will continue until the end. Hence it is called a funnel. The contacts remaining at the end are the highest value contacts for the business or are those who have purchased the top or highest value product/service. Contacts within the funnel can exit at any point within the system. This exit is normally determined by the contact and not the business, as the contact may elect to no longer progress through your sales system or just stops interacting. Unsubscribing is a very common way contacts exit the funnel. As the cost of mailing programs increase more and more business operators are also purging their email lists of contact that not longer interact.
This complex sales funnel was one we were engaged to create. It was for a multi product website and social media account that was required to handle potential clients coming from many sources, to purchase multiple products and email capture in an email program and then follow up emails. It moved across between the website, email program, various social media accounts and webinar signup.
Why have a Sales Funnel?
Marketing analysis tells us that most consumers often need a number of touch points with you before they will purchase. Modern marketing is also about providing content that demonstrates your expertise. Consumers have come to accept that they will provide their email address in return for these “freebies”. Rightly or wrongly it is believed that high $ programs will not be purchased unless people have been able to move through your offerings from free to moderately priced to expensive with only a small percentage going the full route. Sales Funnels are also widely used when you are delivering membership or subscription programs.
Do you have a sales funnel in place?
Is it working correctly?
