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What Is A Funnel? A
funnel is the process of turning people who don’t know about your business into leads, prospects and eventually customers.
The funnel is the process
of getting leads and turning them into customers. A funnel is like a whirlpool. The wider the top and the longer the funnel the more leads you get and the more value you can potentially provide.
#2 Rule Wider Is Better*
*If the content is good. Source: DigitalMarketer.com The above are just a few of the ways to increase the width of your funnel and potentially bring in more leads.
#3 Rule Longer Is Better
This, in other words is the upsell. When people buy your product, offer them more value in the form of something bigger.
The McDonald’s Way $1.91 is
the amount McDonalds spends on getting each customer through the door. $2.09 is average price a customer spends on a burger. $2.09 - $1.91 = 0.18c is the amount they receive in revenue from a burger purchase. So how do they make money?! They upsell you a fries and a coke. On average a customer will spend $1.77 on the upsell which costs McDonalds an extra 0.45c to make. But now they’re making an extra $1.32 proﬁt which means roughly 8 times more proﬁt from the initial sale!
As Seth Godin wisely put
it - being good is the new average. To be successful, you need to start being remarkable. What does this mean? Always provide more value than your customers expect. Don’t aim for a low refund rate, aim for a high ‘wow’ rate. #4 Rule Be Remarkable
Uh Oh… This meant we
could only spend up to $0.50 acquiring our next visitor. This is the recipe for failure.
So What Did We Do?
We started making our funnel wider with active (and awesome) blogging, social engagement and advertising through more mediums.
We directed people to a
free eBook we created that helps them double their conversion rate - you may be able to tell we are passionate about conversion! In exchange we received their email address. Now we have a lead. This gets a 54% conversion rate.
We also targeted a different
market with a free webinar teaching people how to go from an idea in your head launching a business and getting their ﬁrst sale (and more!). This receives a 51% conversion rate
We then redirected them to
an upsell. This upsell aims to provide literally crazy value. Our goal here is to change the relationship from a lead to a customer. We want them to say ‘WOW’. This receives a 21% conversion rate
Those who purchased the last
upsell get directed another upsell. Again we provide ridiculous value and offer a once in a lifetime opportunity for $20. This receives a 11% conversion rate
Best Part? We still have
a ton of leads who we provide massive value to each week over email who later become customers when they are ready. This is how they feel over the coming weeks, months and years.
The Maths Old Way 1,000
views a day 1% conversion rate on landing page 1,000 x 0.01 x $50 = $500 $500/1,000 = $0.50 in revenue per visitor Result $0.50 in revenue per visitor
The Maths New Way 1,000
views a day 50% conversion rate on landing page 1,000 x 0.50 = 500 leads and email addresses 20% conversion for ﬁrst upsell 500 x 0.20 x $1 = $100 10% conversion for second upsell 100 x 0.10 x $20 = $400 10% conversion for third upsell 10 x 0.10 x $200 = $200 Finally 50% of the 100 trial users become members for $30 a month 100 x 0.50 x $30 = $1,500 Result $2.20 in revenue per visitor
We never describe our leads
or customers as leads or customers apart from when we teach. Once someone reads a piece of content or watches one of our videos, they join the family. We don’t live in a world of mass marketing anymore, we live in a world of connection and value. If those two values are embodied by a business it can radically alter its destiny for the better. #5 Rule Create A Connection
Fantastic! If you’ve followed these
steps you have just doubled your conversion rate! If you want to grab your own free copy of ‘How To Double Your Conversion Rate Today’ for a more in-depth look on what you just learnt click below! http://launcher.bigbangly.com
Or… If you’re crazy like
us and want to massively improve your business, check out our eBook on Amazon for $3.99. www.amazon.com/DoubleMySales
Finally If you want more
information about who we are and what we do… Launchcademy BigBangly For a low cost, world class business education with a mission to empower the world! Sign up for the pre-release today. For an ‘improve my business’ option we offer low cost consulting, SEO and conversion optimisation advice, website testing software and more for the startup and small business with a budget!