Last week we posted about ‘What is A Sales Funnel?’ and the yellow brick road experience so today it’s all about the ‘Four Foundations of Funnel Building’.
No different to when you are building a house it’s only as strong as the foundations its built upon, and if I’ve had the pleasure of you in one of my workshops I’m always talking about how a pyramid is only as high as its foundation are wide and that’s why you need to think of your business the same way.
I want to break down these principles or foundations of funnel building so that you can start to see areas you’re possibly weak in and also identify the areas which you’re stronger in.
The first foundation of funnel building is all about the offer.
The offer is really the core of everything. If you don’t have a good offer, you cannot build a funnel. A funnel will not fix a bad offer. What a funnel will do for a good offer is make you a millionaire. You want to make sure you’re in a hot market and you want to make sure it’s irresistible. I think part of the problem is we think our offers are amazing because we’re really close to them, but we don’t really make sure that our offer is in a market, that it’s actually irresistible, that it’s a no-brainer.
For example if someone told me that there was a Mercedes for sale and it was $50,000, and it was worth $100,000 go buy it, I’d be like, “Ah, no thanks. I don’t want to spend $50,000 on a Mercedes.”
If somebody told me, “Hey, there’s a home beachfront on the Gold Coast. It’s actually worth 2 million but you can get it for $100,000. Do you want to buy it?” I would buy it. It’s irresistible. It’s absolutely without a doubt. It’s a no-brainer. I would borrow the money. I would figure out have to do it. Make sure it’s irresistible and make sure it’s a hot market.
The other part about the offer is you need great copy. Think of your copy like clothes. You have yourself and you can wear really bad, ugly clothes, ripped, smelly, holes, or you can go out and buy the best clothes you can find. It’s going to make you look a lot different. Right now I look way better than I look any other day of the year. I’ve got great clothes, great copy. These are the things you need to focus on with your offer: hot market, irresistible, great copy.
Second foundation is flow.
This is where we really have to look at how the offers work together. In a sales funnel, unless you’re doing a webinar funnel, in a traditional sales funnel there are actually multiple things being sold. You have the initial thing, then maybe you have the order bump underneath. Then maybe you have a one-time offer upsell. Maybe you have a one-time offer down sell. The flow is about how the offers, how the products interact with each other.
The best way I can explain this is, take the Christmas period for example, you eat a ton of ham on Christmas day, and then on Boxing Day you eat some more ham, by New Years you hate ham and you don’t want to eat it anymore.
When the products don’t interact well together, sometimes what happens is in our enthusiasm to be amazing we give an amazing product and then we fill their belly with the information that they need so that then when we come in with the “Hey, buy more. Hey, buy this,” they’re like, “Eh, no. This was good. This satisfied that need.” You want to make sure that the products complement each other so that if they’re buying something and then they’re buying the next thing, it’s like, “Ooh, that goes with it.”
You’ll see this regularly with what Russell Brunson does with Clickfunnels. He gives you the software, and then he offers to sell you the things that help you make the software better. Maybe he gives you add-on templates, special codes, things that make the funnels work more. He’s not just trying to sell you more and more and more funnels. He’s trying to sell you complementary add-ons. This is really important in funnel building is to create a great flow.
You also want to make sure that the price goes like this. You want to start with your lowest cost offer, but you also typically want to make your low cost offer almost as valuable, if not the same value, as your One Time Offer (OTO). Some of you might feel like, oh, well, that doesn’t make any sense. This should be three stars and this should be four stars. That’s how we think in our brains, because this is $7 and this is $40. But you want to make this equal to the value of whatever you’re selling here, maybe even more valuable.
That’s because that first sale, when someone goes from prospect to customer, is the hardest sale of all. If you can’t get that sale, they never see anything that comes after it. They don’t ever get to see your OTOs and your upsells and your down sells because they never actually made that first sale.
That’s why I’m telling you make the quality and the value equal to whatever’s coming next in the funnel, because you’ve got to get them in the door. Sometimes you may take a loss here. Sometimes you don’t actually make money at this point. That’s normal and okay because you’re trying to get people through the rest of the funnel. Flow is the second foundation of funnel building.
The third foundation is follow-up.
No matter how much time we spend on our funnel, people aren’t going to do what we want them to do. They’re going to pop off the page. They’re going to get distracted. Their kids are going to need them. Emails, texts, messenger’s bots, and retargeting ads are all ways to follow up in a funnel.
You need to pick one, two, three, or all four: emails, texts, messenger bots, and retargeting ads.
Make sure that you hit them as many times as you can, because most people won’t do what you want. In fact, the standard rate for people buying on a funnel is about 1 to 5%. For every 100 people that come through your funnel, maybe you get five people that do what you want them to do. The other 95 are going to need all four of these things.
The forth and last foundation of funnel building is traffic.
Traffic is basically once you have your funnel built, once you have your car built, how are you going to fuel it ? What kind of traffic are you going to use? Now Facebook ads are the most popular but there’s all kinds of other traffic sources. You want to think about your funnel based on what traffic you’re going to use. Let me give you an example. Let’s say you’re a pod caster and your podcast is your traffic. You do a podcast, you know people are listening to you. With a podcast, people are hearing you talk, they’re getting to know you, they’re trusting you. Do you have to send them to a webinar right after a podcast? Usually not. Sometimes you can do just a quick download because you’ve already built that trust, versus if you’re going off a Facebook ad, they’ve never heard your Facebook, they’ve never seen you. Maybe you need Video, Webinar, a Video Sales Letter or things like that in your funnel to really build that trust quickly. Your traffic in some ways does influence the type of funnel that you’re going to build.
Another way to get traffic is through Search Engine Optimisation, through blogging, through other social media things like Instagram and Twitter. You can also use YouTube, networking, JVs. There’s all kinds of ways to get traffic. My recommendation is you pick one and you get really good at it. Then you go to the next one. Now these are the four foundations of funnel building, your great offers, awesome flow, amazing follow-up, and great traffic.
The last piece of this is where people often do it completely backwards, is that your traffic usually requires you to put content native to the platform. What do I mean by that? Let’s say you’re using Instagram for your traffic. You have to create an Instagram Story, let’s say. You have to create content that fits in the platform, that people on that platform are like, “Oh, it’s an Instagram Story.” You’re not trying to do something that the platform isn’t meant to do. You’re going to want to create content that works with whatever platform you’ve chosen so that you can put that content on that platform, which leads them right into your funnel.
A lot of people like to do this first. They think about content and then they think of it all backwards. But this is actually like the last step once you’ve really built out the funnel and you’ve tested it with a few people, or your email list.
We hope this post gives you an easier way to think about funnel building and the foundational things you need to know before you get started to make your funnel a success.
If you are struggling to generate fresh leads for your business and want to learn more about how we use Sales Funnels to generate leads for ‘We Are Web Social’ and many other clients simply CLICK HERE and I look forward to seeing you on a brand new 45 minute Online Class that is just pure content and no selling and for those who attend at the end there is a way to have all you questions answered for FREE.
Alternatively if you want to have access to the exact funnels we use in We Are Web Social hit us up on the Contact page and I look forward to chatting to you and advising what funnel is best for your business and Lead Generation strategy.
I look forward to seeing you on the inside and as always be sure to ‘Enjoy the Ride’
Cheers Matt and the We Are Web Social team 🙂