Sales Funnel Overview

Nick Kozmin

Transcript

Alrighty. So in this video, I'm going to explain what a sales funnel is in this little overview. So basically a sales funnel is just something that converts traffic or people's eyeballs or attention into paying customers. Okay. And there's a few steps that they need to go through to become a paying customer. And most people, they try to go traffic all the way to the core, offer the pay, or they try to sell their core offer right off the bat. And they don't go through the necessary courting steps and it always always fails. Okay. So at the end of the day, all we're doing is returning traffic or people's eyeballs into customers. Okay? Now this is what these are the steps. So number one, we get the attention and then they turn into a lead. So they opt in, they give us their information in exchange for some sort of value.

Okay. That's how it works. The first transaction is really light. It's really easy. They give us their contact information and we give them something of value. Whether it's a free case, study a training, a free trial of some sort of gated content, something like that, a quiz. Okay. And then as soon as they become a lead, we send them to the next step, which is some light commitment. Whether it's a demo, a free trial sign up with a credit card, or maybe they're going to make like some small purchase. They just want to dip their toe into the water. And then once they do that, we send them to the core offer where they, this is what you want to sell. You want to be selling your core offer. Once they buy the core offer, then you're going to send them to a profit maximizer.

Okay. And then once you, once they buy up all your profit maximizers, you want to ask him to be customer advocates and you want to get referrals out of them. So that's the basic funnel. And like I said, most people skip a few steps and you can't skip a few steps. It doesn't work. Okay. You have to go through these proper steps in order to make your funnel profitable. Now here's some metrics. So traffic to eyeballs it's or traffic to leads. It's usually about 10 to 20%. I'm going to show you a real life funnel. This is a, one of my clients' funnels. You can see that we implemented this and they're just jumping up in a few. In like two months, they hit 420 AR and they're still going strong. And this is kinda their funnel. So we have the traffic, they, they get they turn into a lead and you can see that the percentage is 33%, 33.4%.

Now I said 10 to 20%, but my pages are converting really, really high. And I'll show you how to do that. And then we have the lead to demo. Booking is 31%, which is insanely high. And we hit like, we know exactly who we're targeting in this Nisha. We get these numbers really high. Your conversion rate from lead to demo or free trial or a little purchase should be around 10 to 20%. You can still do well if it's like 5%, okay. Depending on what you're selling, but you want to shoot for that 10 to 20%, then you're going to be making money, hand over fist. Okay? So once you get that demo or that free trial, you need to convert them into actual paying customers on the core offer. And this should be greater than 30%. So if you have an inside sales team, you should be converting greater than 30%.

I'll show you a client. That's actually doing this. This is the CRM. This is from last week. Demos completed, not close 36 demos, one seven and demos one 10. So we one 17 and 36 plus 17 is 53. So we go 17 over 53, that's a 32% close rate on the core offer. Okay. Then once you have the core offer, once you sell it on the core offer, then you were going to upsell them with some profit maximizer. And this is where you're going to make most of your money. Okay. So if you don't have any profit maximizers, you should make some. And then this is a really, really great way to get new customers is just turn your customers into referral generating machines. That is very, very important if you want to grow quickly. So what are these things down here?

What we call these contingency plans? So let's say a customer hits the lead page or the opt in page, but doesn't turn into a lead. Well, we have a contingency plan saying, or that helps them come back to this page. So we use retargeting campaigns in a lot of cases. Okay. And I'm going to show you all these different ways to generate traffic and get leads and all of this stuff. And I'm just giving you the overview if they don't, if they become a lead, but don't turn into a demo or a free trial or a small purchase. We also in the internet marketing world, we call this trip wire. They call this little, this step here, a tripwire step. Cause as soon as they get this, then it's much easier to sell them. It's like, they're tripping the wire, right? So if they don't take your trip wire, then you're going to follow up and retarget.

So we have that contingency plan if they don't, if they take the trip wire, but don't take the core offer. Then we follow up and retarget, same thing. We need to follow up like crazy. Or your salespeople need to follow up like crazy if they take the core offer, but they don't take the profit maximizer. Well, we need to make sure that they're successful with the core offers. So we have followup sequences and success sequences. So we want to make sure that they're getting tons of value with the core offer so that they buy more. Okay. And if they don't, if they take the profit maximizer, but they don't become customer advocates. Well, same thing. We just need to make sure that they're super, super successful with this profit maximizer and core offer. So they just standing on top of a mountain and shouting, okay.

So that is the overview of the sales funnel. And there's tons of different ways to make these sales funnels. There's a, there's tons of different traffic sources. There's tons of different lead magnets. There's, there's a few conversion mechanisms here that I'll show you. But at the end of the day, this is really what you're doing. You're turning eyeballs into customers and you're making them happy and you're basically turning your customers into referral generating machines. All right. So hopefully that makes sense. Don't worry. We're going to get into it a lot more and we'll see you in the next video.

 

Join 2000 + Rockstar Entrepreneurs.

Get A Price

Many Customers