Best Sales Funnel I 5 Steps to Craft the Best Sales Funnel

sales funnel image5 Steps to Craft the Best Sales Funnel

Sales is an essential component of most business models. By generating leads, closing deals and adding to the gross profit margin, the sales funnel is the tool by which most salespersons gauge their growth. The best sales funnel model can grow the business exponentially by following a few key steps. The funnel uses a sequence and structure known for high conversion rates providing twice as many prospects and leads, customers, margin-core offer and frequency-return path. The sales funnel builder utilizes five key steps to grow your business.

Step 1: Product and Market Fit

The first step in the best sales funnel is to determine what market you want to attract with your product or service. You likely already have a good product or service but need to market to the right set of customers to achieve larger growth. Customers doubt companies they don’t know. Engage your prospects in a way that leads naturally into a lead magnet. Speak to the desires of your target market with the right message. In order to target the ideal market, you must first know the target customer and identify their particular needs. Create a value proposition to define the customer’s needs and how they benefit from your product or service. You are essentially providing them a value statement addressing a particular need of theirs and how your business is the solution.  

Step 2: Lead Magnet

Now that you have determined who you are marketing to and what value you bring them, you are ready to launch into the sales funnel builder. A lead magnet is an irresistible bribe exchanging a specific piece of the business’s value in exchange for the customer’s contact information. The purpose of the lead magnet is to increase the number of targeted leads you receive for an offer. While a long, complicated lead magnet may seem like a good idea, they often lead to poor conversion rates. A lead magnet in the best sales funnel should:

  • Be simple and specific
  • Make a specific promise
  • Give a specific example
  • Offer a specific shortcut
  • Answer a specific question
  • Deliver a specific discount
  • Should use at least one of these

Sales funnel examples of a lead magnet can look like a free report or e-book for signing up for special offers or newsletters from the business. The report given should address one of the needs your company addresses offering value to them. In return, you have the contact information of a customer with an interest in your product or service.

Step 3: Tripwire

Once you have your targeted list of leads, you are ready to offer them a tripwire. The low-dollar, irresistible tripwire offer aims to acquire buyers. The tripwire is not a coupon but rather presents a value in advance of the purchase. The offer should be premium to lower your barrier of entry as much as possible. Types of tripwires in the best sales funnel include:

  • Physical Premium (Want But Don’t Need)
  • Small But Critical (Need But Not Sexy)
  • Book/Report
  • Free or Paid Webinar/Teleseminar
  • Free or Paid Trial
  • Software/Plugin
  • A La Carte Service

Examples of a tripwire can include things such as a free makeup brush or flashlight with shipping included. A software company may offer a free plugin or webinar about one particular piece of the software to further pique interest in the product yet still provide value to the customer.

Step 4: Profit Maximizer

The tripwire offer leads you right into maximizing profits in the best sales funnel. Without spending any additional money, you can increase the average order value. The cost of acquisition has already been established at this point. A profit maximizer is another offer on top of the current product or service. Types of profit maximizers include:

  • Upsells
  • Cross-sells
  • Subscriptions
  • Anything else that increases margins
  • Bundles
  • Speed and automation
    • Expedited shipping for physical products
    • Done for you services for information services
    • Migrate or install services for software sellers
    • Hands on experience for consultants and service providers

Upsells are more of the same product such as buy one product for $30 but buy two for $45. Cross-sells offer a related product or service such as a smaller piece of software that interacts and enhances the current software purchase. Subscriptions provide customers with access to a club, community or association giving them specific benefits for inclusion such as discounts, faster updates on products, etc. All these profit maximizers are easy add-ons for many customers that bring them value and increase your profits.

Step 5: Return Path

While it would be great if every sale closed on the first contact, the reality is that sales happens over increased contact. Each additional visit from the customer increases their likelihood of purchasing your products. You build brand loyalty and customer awareness with each contact. Known as the return path, there are four ways to follow up with customers as part of the best sales funnel:

  • Constant Communication
    • Communicate with your list at least once a week
    • If they unsubscribe, they were not really interested in your product/business
    • Without constant communication, money is left on the table
    • Add value by sending information and content they really want
    • Have a value first strategy which may include asking the customer what they want
    • Utilize tools for communication such as faxes for B2B clients or Callfire
  • Exit Offers on Websites
    • If done correctly, can be very effective
    • Google offers free sales funnel templates for exit offers
    • Can lead to immediate sales
    • Can reduce cart abandonment
    • Generates leads
  • Retargeting or Remarketing by Following People on the Internet
    • Showcase your product on multiple platforms including Twitter, Facebook, Google and YouTube
    • Show them your ads on websites featuring ad blocks
    • Each method shows them a reason to go back to your website and your offer
    • Helps keep your brand in front of bounced traffic even when not on your website
    • 2% is the average industry conversion rate, retargeting helps with the other 98%
    • Uses cookie-based technology to see where your customers are going on the web
    • Generally is not annoying and runs on autopilot
    • A cheap, dynamic and specific way to follow-up
    • Use on any platform or with a 3rd party tool such as perfectaudience or retargeter
    • For as little as $5 a day, the budget can stay low with low frequency based on the number of people who visited your website
    • Unless audience is over 100k on Facebook, bid for clicks
    • Full funnel targeting continues to target the audience until all steps are exhausted but only as far as 30 days
    • Try to avoid using the same ads but do stay true to branding
  • Automated Follow-up Through Email  
    • Keeps you from being a faceless/nameless corporation
    • Humanizes your company
    • Shows you care about the customer

Increase your existing business’s growth potential up to 10x with these sales funnel examples. No need to create new services or products using the best sales funnel. Double or triple your current business with even small bumps in any step of the funnel. The steps help lower acquisition costs providing immediate conversion and increasing lifetime customer value. While a 10x growth is not always possible, the free sales funnel creator can help your business grow exponentially.