How many times has this happened to your business?
You successfully pull someone in with your marketing. They mull over the offer. But they leave without buying.
You know the feeling. Don’t lose sleep over this because EVERY business, without exception, goes through this. And it doesn’t matter what you’re selling: mutual funds, the latest personal doohickies or snowshoes.
Even when you get them all the way to the shopping cart, they leave. According to a Baynard Institute’s E-Commerce Checkout Usability study, 68% of all e-commerce visitors abandon their shopping cart.
And what’s more, this doesn’t figure in all the people that may have read your marketing message and are compelled to click over to your website or follow your webcast or video series – but don’t even make it to the shopping cart.
Our research finds this number to be more like 90%-95%. They show an interest in a product, but don’t buy. That figures out to 1 in 10 or possibly as few as 1 in 20 who come across your message and actually take the action you want and buy something.
Now imagine if you captured even an additional one or two percent. This could easily add up to thousands of dollars in your pocket.
I sure hope you’re using a lead capture device to compile names and contact info. Why? So you can follow-up with the 90%-95% who leave before buying. If you don’t, you’re not only throwing leads out the window, but you’re also leaving a TON of potential money sitting on the table, so your competition can come along and swoop it up.
Let’s say you’ve captured names and contact info. Now what are you supposed to do?
Send them to a funnel.
The beauty of funnels is they help increase sales. At GKIC we’ve used funnels to effortlessly multiply every dollar our customers spend by four…five…even six times. One funnel we used after a product launch increased the value of purchasers by 600%.
A funnel is designed to help you get more people to the check-out and to get them to buy and spend even more with you. Designed correctly, your funnel can do a lot more than just make a sale. It can tell you a whole lot about everyone who raises their hand.
Funnels can help you segment your list to see where you should concentrate your marketing dollars and which customers deserve more attention from you. And a funnel can be designed to keep prospects interested and on the hook until they are ready to buy.
Also, depending on the reactions of your prospects or customers, you can learn more about your customer. For instance, typically, the faster you make a sale, the greater the commitment they’ll make to you over the course of your relationship.
So what should your funnel look like?
It depends on what you are trying to do. Think about it for a minute and then ask yourself the following questions. Do you want to …
• Segment names and find out who is interested in buying and who is more interested in collecting free stuff?
• Increase the overall value of a new member or purchaser?
• Pre-qualify people and identify the ones who are truly interested and qualify for the high-priced items or programs?
• Determine which ones are hyperactive buyers?
• Speed up the sales cycle and acquire a customer faster?
Decide what you want your funnel to accomplish first. This will determine what type of funnel you should use and what steps you’ll want to take your prospects through.
All of this, and a whole lot more, is covered in the Ninja Funnels program being offered as this weekend’s web deal.
Here are a few more tips for creating your funnels.
I’ve seen the following repeated many times regardless of the product or service. The best time to make a sale is right after the first sale. So always offer an up sell (or two) in your funnel.
Remember that 80%-90% of your prospects won’t go down the path you give them. Like many of us, they have their own mind and their own way of doing things. If they don’t take you up on your first offer, try creating a new path in your funnel to see if they are interested in following that instead.
For example, if we make our “most incredible free gift ever” offer to people who sign up for a free video series and they don’t take us up on it, we’ll come back with a different offer. If they still don’t buy, we may try offering something else, like a copywriting program instead of the marketing path we’ve been trying to lead them down. Every decision they make, or don’t make, tells you something. Use this information to your advantage.
The numbers tell us that it’s better to ask for a credit card up front, before you ask them to provide other information. I have no logical idea as to why this works, but it does.
Here’s another suggestion. Put your unconverted leads through a four-day cash machine funnel. You want to find out if they are really potential buyers, or just freebie seekers and “looky-loos”. For example, set up an “I’m moving and I don’t want to move this entire stash of products, so I’m holding a four-day moving sale.” The worst thing that may happen? They may unsubscribe. But that’s not necessarily a bad thing if they aren’t buying anything from you anyway.
Here are the advantages of creating funnels for your business. It can create a regular interval of added income for you. It helps you to define and segment your prospects, so you can better predict what they may do in the future. And because few businesses use funnels, you’ll stand out even more. Plus you will be automating your sales process and getting more predictable results.
Funnels will help you grow your business and your bank account, even when you’re out-of-town visiting the in-laws or hacking up the golf course.
P.S. – Get “The 10 Rules to Transforming Your Small Business into an Infinitely More Powerful Direct Response Marketing Business” for FREE. Click here to claim your customer-getting, sales-boosting tactics.