How To Design A Winning Sales Funnel And Boost Your Profits?
Learn The Secrets Behind A Winning Sales Funnel
By Anam Tahir
HOW TO CREATE A SALES FUNNEL
Going Behind The Scenes
In the last post you walked down the sales funnel from a consumer’s psychology. Today I’ll take you deep into the layers of a well-designed sales funnel and analyze how it is engineered.
In simple words, a sales funnel is a marketing model of your product mix to pull more and more customers into it and boost your profits.
The top of the funnel starts from a free or very low cost, no-brainer product to attract as many people and then gradually moves them down towards the bottom offering higher priced products.
The end of the funnel is marked with the most expensive product.
Why the name Funnel?
As you move people from an entry level product to more advanced products, the number of buyers decrease gradually.
If you rank the products on the basis of the number of buyers and represent it in the form of a shape it looks like a funnel as you can see below. (Click the image to enlarge).
The free product marks the top of the funnel as it attracts the maximum number of people. As your product offers upgrade, they become more expensive gradually and hence the number of people buying your upgraded products decreases.
The end product has the minimum number of buyers as it is the most expensive product.
Designing an effective sales funnel is very critical for your digital business.
In order to maximize your profits you must have well-integrated product suite. It means that your products must perfectly fit into each other when converted into a sales funnel.
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But How Do I Attract People To Enter The Sales Funnel?
By Creating Content and attracting people to your content.
That’s by far The Best way to drive traffic to your website that ultimately leads to conversion.
Now, content can be in as many forms as you want. You can produce content in the form of:
– Blog Posts
– Video Blogs (vlogs)
And the list goes on.
All of them are very effective. It all depends on what you’re good at. Focus on creating content that you’re good at.
For example, if you’re a good speaker and jazz up the room wherever you go, then video is the thing for you.
If you’re good at writing then focus on that.
But whatever your thing is, the key is to produce content consistently.
The sales funnel process is the same for any type of content but to keep things simple, we will focus on Blogs.
Before we get into the designing of the blog sales funnel let me answer the most frequently asked question.
HOW DO BLOGS MAKE MONEY?
When I tell people that I write blogs for my website, their first reaction is,
“Hmmm Okayyy. (With a frowned forehead). So, what do you do for a living?”
Very few people on this planet know that blogging can earn you a full time income and empower you to a lifestyle of total freedom and flexibility.
Yaro Starak in his article talks about the three core strategies to turn blogs into a lucrative online business that earns you a passive income stream.
– Sponsored Advertising
– Affiliate Commission
– Products and Services
Using this strategy you can turn your blog into a passive income stream. Under this category, you place banner ads, native ads (when you write/mention about a product as a part of your blog post), sponsored reviews or video ads and get paid for placing those ad in your blog.
Now there are two ways to earn affiliate commissions through blogs.
i. You get the affiliate links for products from amazon or ebay and place those links within your post and if a visitor clicks on it and buys via your affiliate link you get paid a certain percentage of the sales revenue.
Affiliate income from such products goes up to a few dollars.
ii. The other option is that you buy membership plans for High Ticket Affiliate Products.
High Ticket products earn you very high commissions up to several thousands of dollars such as membership plans.
All you have to do is market your affiliate links through your blog. If someone buys through your affiliate link, you get paid the commission.
Products and Services
And another way to turn your blog into a 24/7 income stream is to create your own products and services. The products can be digital or physical. You promote your products and services through your blog and get sales.
THE ENLIGHTENED BLOG SALES FUNNEL
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A well-designed blog sales funnel takes the customers through eight channels.
Channel 1 – Blog
The first channel is the channel that pulls people into your sales funnel. And that is the blog.
You create your content in the form of blog and then distribute it all over social media either organically or through paid ads.
As your social media posts catches their eye balls, if it’s compelling enough people will visit your blog.
Channel 2 – Email list
When people go to your blog it is this moment when you offer them ‘lead magnet’ to get their email address in exchange.
If your free offer is attractive and valuable to them, they will give you their email address to take away their free good.
And the moment they hit that button, they enter your email list and that’s when The Ride begins.
While I was reading blog he asked me to subscribe to his email list via pop up. He offered to sign up for a free 300 page ebook and given the fact that I had already fallen in love with his content it took me a second to sign up.
Channel 3 – Front End Product
Here you offer your prospects your first product in line. It’s called the front-end product.
The front-end product is a low-cost product that minimizes the barrier to entry.
This product is in place to let your potential customers exhale their fear of purchase.
As you learnt in the previous post, the front end product is offered when the customers are going through the Awareness phase.
As in this phase your prospects haven’t developed relationship with you, they don’t trust you and are very vulnerable.
They’re very reluctant in taking out their credit cards. Hence, you have to play safe at this stage.
The purpose of this low-cost, no-brainer product is to ease them up and break the ice and make them buy from you.
However, being low-priced doesn’t mean it should not be valuable.
It must offer great value to your potential customers because this is the best and most of the times the only chance to get them hooked to your brand.
And only if they get high value from it will they make their first purchase from you.
On average, the price range for this is $9 – $99.
The moment I signed up for his subscription, I started getting emails from him which educated me about marketing. Within those emails he made an offer to buy his Social Media Marketing Course worth $97.
I didn’t make the purchase instantly after getting the first email but as he consistently kept sending emails, I was convinced to take out my credit card and buy it. I guess it was after third or fourth email.
The course had 4 recorded modules that taught me how to design my social media marketing strategy.
Channel 4 – Front End Subscription
Frond end subscription is designed to enhance the value of the first purchase and is priced low to avoid customer intimidation but also keep them within the system.
The features offered in this subscription are quite good and do solve quite a lot of their problems.
Usually people who buy the front end subscription are individuals and not companies. Mostly it’s the solopreneurs who go for this as they don’t need the advanced features of the high end subscription.
This product gives them value in addition to their previous purchase and is usually offered as an upsell after they have purchased the first product. But even if they haven’t bought the front end product from you, this offer must be still available to them.
It starts from price as low as $9/month and goes up to usually $49/month.
Well Ben Angel does not offer subscription products. But there are many bloggers who do offer subscription based products like Yaro Starak.
I haven’t bought any of his products but here’s an example of what he offers in his monthly membership:
– Access to member’s area where members mastermind and help out each other.
– Access to interviews with successful bloggers-cum-entrepreneurs.
– Downloadable transcripts
– Recorded podcasts, etc
If you’re creting your own products, it all boils down to your creativity. There’s no hrd and fast rule.
Channel 5 – Flagship Course
Your Flagship Course is a detailed step-by-step training course. Usually they are recorded modules but with great deep inside tactics.
There can be live weekly webinars as well depending on how you have priced it.
Average price range for a flagship course is $299 – $2,999.
Sujan Patel offers his flagship course in which he teaches how to do content marketing.
Now he has kept 3 levels for the same course.
The first one had 10 weeks of recorded modules and emails with Sujan himself. It was worth $500. I bought this one.
The second level had live plus recorded modules with live chat. It was worth $1000 at the time.
The third one had live access to webinars with live, one-on-one support with Sujan himself. It was worth $3000 at the time.
Channel 6 – Membership site
The membership site is for those members who are very active and want consistent support from you and other members. Of course, there are other added perks as well.
Instant access to bonus mastermind session, bonus ebook that is worth $49 let’s say, access to 10 bonus podcasts in which you share the inside latest tactics, along with live support from you from 9 am to 12 noon EST.
This one was a hypothetical example. But many entrepreneurs do have this members only area.
Again it all boils down to your creativity.
The price falls between $50/month to $299/month.
Channel 7 – Live Event
At this level you sell tickets to your live event. It can be a one day conference or a week long bootcamp.
Price falls between $500 to $5000 usually.
Very successful entrepreneurs like Den Pane, Gary Vaynerchuk, Lewis Howes, charge several thousands of dollars for one event.
Channel 8 – One-On-One Coaching
This marks the end of the funnel. In this product you offer your customers private coaching and support from you for x number of weeks or months.
This one is for Elite Customers and they are very few in number.
Successful bloggers and content marketers usually charge $10,000 + for that.
Ramit Sethi offers great courses on how to build your products at his website Zero To Launch.
His private coaching is worth $10,000 as of now.
But What If You Don’t Have The Time Or Budget To Create Those Kick A** Products?
This is where the High Ticket Affiliate Business Model comes into play.
If you don’t want to create your own products, if you don’t want to take the stress of creating your own products, you can always buy a membership of a company that offers a high ticket affiliate program for its members.
There are only a few credible companies that offer high ticket affiliate commissions.
You buy their membership programs in which they educate you on how to start your online business and side by side you can also market their products which earn you quite high affiliate commissions
You can always Google such companies. But let me explain you this business model by giving you the example of one such company that I am an affiliate member of. The Six Figure Mentors.
THE SIX FIGURE MENTORS SALES FUNNEL
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Step 1. You attract people towards your website through your blog that you distribute on social media either organically or via paid ads.
Step 2. You offer them a 30 Day Free Test Drive as the lead magnet and ask them to enter their email address to get access.
Step 3. The moment your subscribers create their free account they get access to their dashboard right away which gives them access to Module 1, weekly Live Training Webinars, 7 Day Video Bootcamp series, Digital Skills Platform, monthly Visionary Call by the co-founders, live support and a dedicated SFM consultant.
In the mean while, instantly they start getting 7 day video bootcamp series straight into their inbox automatically on your behalf.
Step 4. After 30 days if they like the system they will be upgraded to Student access priced at $25/m. And if they don’t like it they can cancel their account at any time.
In Student access they are given access to all 5 Modules and other added features.
Step 5. Assuming they upgrade their membership from free to student, they will be offered Basic Membership priced at $97/month.
This will give them access to additional features like Digital Business Lounge, Simple Lead Capture and higher commissions.
Step 6. Only if they become Basic Member can they be eligible to upgrade their membership to Elite offering them even more advanced training and higher commissions percentage.
Step 7. Once they’re Elite now they can get themselves positioned in the higher level product range called the DEA (Digital Expert Academy).
These are state-of-the-art entrepreneurial training programs starting from DEA Silver to Gold to Platinum to Black.
Each program has its own features.
Step 8. The end of the funnel is marked with DEA Black worth $20,000 that offers its affiliates the highest percentage commission up to 40%.
To buy DEA Black membership you first have to buy all the previous products.
Black gives its members access to the most cutting-edge highest level advanced training on entrepreneurship, one-on-one training with the founders, access to exclusive live training events with DEA Black Coaches, live workshops and incubators.
And that ends the Sales Funnel topic. I hope I cleared the concept to you. If you have any problems do let me know. Leave a comment or email me.
If you like it don’t forget to share it with your friends, colleagues and family members who need to see it.
60 Seconds Recap
(Click to enlarge. On mobile to view the slides you’ll have to flip the view to landscape)
A Sales Funnel is a strategy to attract people to your blog, make them subscribe to your email list that delivers educational content specifically designed to offer them a no-brainer entry level product that breaks the ice between you and the subscriber. Once they buy it, the sales funnel leads them to more advanced products and services offered at higher prices.
As you move people through the sales funnel fewer and fewer people stay at every next level product offer. The funnel ultimately leads them towards the most valuable and highest priced exclusive product, which is purchased by only a few elite customers.
If you have any problems do let me know. Leave a comment or email me.
If you like it don’t forget to share it with your friends, colleagues and family members who need to see it.
Coming Up Next
Tomorrow you’ll learn
– What is affiliate marketing?
– 5 Steps to affiliate marketing.
– What is High Ticket Affiliate Marketing (HTAM) Business Model?
– Why you should choose HTAM?
Stay tuned. Until then, take care. 🙂