Sales funnels are the most important part of your business. Get an early glimpse into how they can help your business by reading this early draft excerpted from my Sales Funnel Bible book.
In the previous chapters, I’ve introduced the sales funnel and explained how to build your own. If you’ve been following along and doing the work in each chapter, you’ll have your very own sales funnel for your business all ready to go… And perhaps you’ve already started implementing it (and hopefully even seeing results!)
In the upcoming chapters you’ll read about different ways that you can grow your sales funnel to make it more effective, more efficient, and more profitable for you. But before we get into the specifics, I want to give you a big picture view of how to grow your business with your sales funnel.
There are ultimately three main strategies that you can use to grow your business with your sales funnel:
- You can increase the number of people going through your sales funnel at one time
- You can increase the speed that people go through your sales funnel
- You can increase the amount of money that each person spends in your sales funnel
Each of the tactics that I explain in the upcoming chapters will fit into one or more of these three strategies.
Let’s look at them a little closer:
You can increase the number of people going through your sales funnel at one time: You can do this by increasing the size of your target market, widening the reach of your marketing, increasing the frequency of your marketing, increasing your referral program, running specials and deals, etc.
You can increase the speed that people go through your sales funnel: You can do this by making the steps shorter, by making each step clearer (and by making the next step that you want your target market to take more obvious), by removing roadblocks, by offering guarantees, adding a time limit to your specials, etc.
You can increase the amount of money that each person spends in your sales funnel: You can do this by packaging deals, offering upsells and ancillary products, following up to make sales to existing customers, etc.
When you look at the above three strategies, it can be tempting to think that you’ll do everything you can to increase all three right now – after all, more customers are better, right? Unfortunately, that is not the case. No sales funnel can handle a sudden onslaught of new customers without feeling some strain. If you sell products, you might end up with an inventory shortage. If you sell services, you might run out of time. If you sell digital products, you might overwhelm the servers or trigger a fraud alert at your payment processor.
A sales funnel that grows is good. A sales funnel that grows too rapidly is at risk of hurting your business and annoying your customers. Instead of implementing many tactics for growing your sales funnel, you should carefully and intentionally grow your sales funnel by choosing a few tactics at a time.
In the next chapters, I’ll be going through many tactics that you might find effective for your sales funnel. Be sure to read them even if you glance at the chapter title and don’t think it will apply to your business; you might find that it does!
This chapter is excerpted from an early draft of my book. Comments and constructive criticisms are welcome. Please be aware that the chapter content and chapter order may change by publication.