The question is no longer whether your business needs a sales funnel. Right now, it’s about the type of sales funnels your business requires. The shift has been triggered by the increasing competition in the current online market landscape.
Businesses have shifted into a proactive mode in a bid to increase the number of paying customer. And it would be best if you did the same by having several sales funnels to meet your competitive sales and profitability goals.
Your profitability cycle is simple. You need traffic that you can convert into leads, which you can later convert into paying customers. These customers will generate the revenues you need for your business.
So, here are the various types of sales funnel you need to complete this cycle.
1. Lead Generation Funnel
As the name suggests, the objective of this sales funnel is to get more leads. It is an ideal funnel if you want to generate solid business leads. The funnel's working principle guarantees that you will get the leads you need.
You generate your leads by offering free products and services in exchange for prospective leads sharing their contact details. For example, do you remember when you signed up to get an e-book on a website? That was the business generating leads.
You will need the following to construct this funnel successfully.
An offer that is too good for target customers to resist. For example free trial period on a software
A means to deliver the offer to your audience- how will the target audience know about your offer?
A landing page to show off your offer. For example, a customer testimonial from a customer who has benefited from the offer.
2. Tripwire Funnel
The tripwire funnel is wholly focused on sales. The idea is to identify prospective customers and be aggressive in turning them into buying customers.
The objectives of the tripwire funnel are achieved by incentivizing the target customers to make the first sale. You will do this by selling high-value products or services at discount prices. If it works, many prospective customers will be rushing to take advantage of this offer.
That is the hook for you. Once you have brought the prospective customer into the fold, you can start selling them more products and services. That will require you to offer the customers better and bigger deals to keep them enticed.
The funnels also serve as a market survey tool. It allows you to gather data on customers genuinely interested in your products or services. You should add these customers to your email list and keep incentivizing them to buy. Here is a sample representation of this funnel.
3. Content Funnel
The objective of a content funnel is to generate inbound traffic, leads and sales through the organic continent. Your focus is on generating content that will convert your audience into paying customers.
Your tasks begin with understanding your target audience. The knowledge you acquire from your research will inform decisions such as the topics to write and the means to deliver your content.
The following are tips on how to construct an effective content funnel.
Select a unique topic for your target audience
Search for relevant keywords for your content
Decide channels to share your content that will generate more traffic
Include a call to action in your content
4. Webinar Funnel
The target of a webinar funnel is to encourage target audiences to sign up for your webinar. Later on, your aim should be to convert them into paying customers. With this funnel, you are already thinking about how to expand your content's reach and influence the target audience.
Therefore, you will attempt to entice your target audience to register and attend your webinar events. These events are your platform to convert more attendees into paying customers at premium prices.
The webinar events offer you a stage to shine and convert the doubters into believers of your products and services. It is an opportunity to address the concerns of your target customers. And convince the target customers of the value your products or services add to them.
In short, what can your business do to them? The following are requirements for constructing this funnel.
An intriguing topic for the target audience
A platform to run your webinar
An enticing offer for the webinar attendees
A series of automated follow-up emails after the webinar
Below is an illustration of the impact of these emails.
5. Review Funnel
Have you ever wondered why your competitors have such convincing customer testimonials? The secret is a review funnel.
The funnel intends to generate as many reviews as possible for your products or services. The beauty of it is that you can filter the reviews to only display positive feedback. But be sure to address the issues raised in the negative reviews you get from your customers.
The success of your review funnel is influenced by the base question you choose to ask your customers. You will need the following to make a review funnel
A set of open-ended questions
Engaging customer feedback survey
A review platform such as capterra and Trust Pilot
Develop Systems to Get The Most from these Sales Funnels
The success of these types of sales funnel in your business depends on the system you have installed. You need systems that are automated and streamlined to deliver the desired sales funnel outcomes.
If you don’t, there is no need to panic. Select your automation package here, and let us worry about providing you with the latest business systems.