Case study (part 3): Looking for opportunities in the sales funnel

In a previous blog post, I showed you how to draw your sales funnel. I showed you the sales funnel for a typical (but made-up) business.

Opportunities in the sales funnel

Now, I’m taking that same made-up business and using it as an example case study to show you how to find new opportunities to run a more successful, profitable business.

One way you can optimize your sales funnel is:

Reduce the people who fall out of your sales funnel

There’s a reason that a sales funnel is funnel-shaped. Lots of people come into your funnel from the top but only a few make it to the bottom. Everyone else either drags their heels or finds some other way to solve whatever problem that your product or service solves. So, I guess a sales funnel is actually more like a sales sieve!

It’s okay that SOME people fall out of your sales funnel. You don’t want or need everyone to buy from you. But you should try to keep more people in your funnel than you have been. Some people need a longer-term relationship before they are willing to buy.

So, one of the opportunities we can see in this case study sales funnel is to add some “stickiness”… something that keeps people in the loop if they aren’t ready to buy just yet.

Email newsletters and autoresponders are perfect for this. They offer you an easy way to capture some basic information and then stay in touch.

Here’s what I would do to integrate an autoresponder into this sales funnel:

  • Measure to see what my close rate is on people who are getting to the ebook landing page… and instead of offering the ebook for sale on the landing page, I’d offer a free newsletter and see if that captures more people’s information. Then offer the ebook in an email.
  • Put the email sign-up form on my home-page and make that my primary offer. Get people signing up to it.
  • Create a special email sign-up page just for people from the Chamber… an exclusive list that keeps them up-to-date on my speaking and answers questions about what I do.

By doing these three simple things, the business would capture more leads and prospects and keep them in a holding pattern. The ones who were going to buy would buy anyway but the ones who weren’t going to buy right away would be nurtured until some of them were ready to buy.

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