How to Increase Your Profits With an Online Sales Funnel
Friday June 29, 2018 If you're like a lot of growing businesses out there, you may be feeling stuck in your social media marketing. You're running ads on Facebook and Google, posting on your social profiles, engaging online with your audience, and crafting your website to promote your services. But you still may not be getting the ROI you want, and you don't know how to get it.
So, what is the secret ingredient to maximizing your online marketing ROI?
In order to bring in money with your social presence, you need to understand your audiences and move them through defined sales funnel. Some people you'll be reaching may not even know how to fix the problem they have, and you'll need to educate them on what they need as well as show them how your business can help. Some people, on the other hand, will already be looking for your product or service and will be ready to hear how your business is different from the other guys. And some people will already know the problem and your business and just need to be moved up to higher sales levels. Listen to your customers and your audience to know what they need and how you can fill it.
But practically speaking, how do you create and execute a sales funnel?
The answer is two-fold: 1) create a value ladder for your customers, and 2) target and retarget. A value ladder has different products on each "rung" that are customized for the different stages of your audience. For example, a pressure washing company may create a simple, free DIY pressure washing guide for a cold audience, who may not even know pressure washing can get the grime off their driveways. The company may then offer a buy-one-get-one or 50% off promotional for warm audiences who are looking for pressure washers. And for hot audiences who have already purchased a cleaning, the company could offer a semi-annual maintenance package to keep their customers coming back.
Then, once you have a value ladder, start marketing it with targeting and retargeting. Use reach ads focused on education to get your business in front of cold audiences. Brand awareness ads are great for showing your business to warm audiences, and retargeting ads or custom audiences are the perfect way to reach hot audiences. (Note: you can use reach ads and brand awareness ads for any audience. Changing up the goal of the ads is a great way to avoid ad fatigue in your audience. But for this blog, we're focusing on companies starting out with sales funnels.)
What's the bottom line for your business using a sales funnel?
You need to know who your audience is and what they're looking for. Then, figure out specific ways to give them value and incentivize doing business with you. Based on if an audience is cold, warm, or hot, you can give them different value. But the goal should be to get as many customers as possible on the highest rung of the value ladder. Since lead generation is the most expensive and the least rewarding, you want to upsell existing customers so that 100% of the money you make is profit.
Are you ready to start making more money online with a sales funnel? Do you need help getting started? Let us help you! Set up a meeting with me directly to get marketing coaching, or contact us via email, Facebook Messenger, or our website. We want to take your business to the next level!
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