myEmpirePROQuestion – “I came online to find an easy way to get more customers. Sadly, I’ve spent the last 6 – 9 months just getting into more and more complicated stuff.
If I knew that it would be this complicated, may be I would not have quit my job so early. Anyway, it’s a bit too late to be regretting now.
I’ve spent lots of money on traffic but I have this other mentor who said something about sales funnels and he suggested I used clickfunnels.
Do you use clicksfunnels to generate your own leads and customers too? What is a marketing funnel if my question doesn’t even make sense?”
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Here goes the answer and my personal marketing funnel template
I posted the question on Facebook and here is how someone defined sales and marketing funnels. ” A process that takes suspects through prospects into clients/customers by showing something interesting to those who are interested, creating the desire to fulfill their wants and needs, thereby leveraging your time to serve those who are ready for a relationship.”
I personally would simplify it to this. A sales and marketing funnel is the path you take your prospects though in order to maximize average customer value (ACV) in your business. Some call it average transnational value.
It’s always a bad idea to have only one offer with one price in your business. It’s an awful assumption that your ideal prospects want the same level of service and you are therefore leaving lots of money on the table.
So a sales and marketing funnel can also be defined as a strategic aggregate of your product line and offers into a sequence that maximizes average transnational value (ATV).
Marketing Funnel Explained with the McDonald Analogy
Let’s assume that a McDonald drive through receives 200 drive-through per day. If each drive through orders a $5 meal. That would result in a daily revenue of $1,000 with an average transnational value (ATV) of $5.
However with the way McDonald setup their funnels, they’ve trained the person at the window to ask this simple question. “Would you like 2 apple pies for $1 with that?” That’s called an upsell.
If only 20 out of the 200 drive-through customers took them up on the upsell offer, that would be an additional $20 revenue with a total of $1,020. ATV would now become $5.10. That’s a 2% increase in revenue from the same number of customers and transactions.
That was 2 Marketing Funnel Stages. When you apply this in social media and digital marketing, the possibilities are endless. To maximize profits, you want to setup a minimum of 4 stages as described below. Let’s dive in.
Stage 1 (The What & The Why)
This is the first stage that attracts cold traffic to your business. Cold traffic simply means prospects getting exposed to you and your brand for the first time ever.
For example, if you are new here, you are on my stage 1 and I suggest subscriber to put you on my stage 2. When you do that, you will gain access to a free class on free traffic and free leads for life. It’s a $297 value.
Stage 2 (The Capture)
This is the stage of the funnel where you give away additional information in exchange for the prospects contact information. This is attraction marketing. I called this the lead product.
Usually about 20 -30% of prospects at stage 1 end up here. Hence the marketing funnel. The population decreases but the average prospect value increase. They are more qualified to be your customers.
This can be a coupon or information. This valuable should be worth $50 – $100. Like I said earlier, it’s my free class and it’s worth $297 when you apply the information that I teach in it.
Stage 3 (The How)
At this stage, it’s time to sell something in exchange for actual money. The funnel is doing the work. The people at this stage keep going through the path because they feel more value in association with your business.
You can sell a product at the price of $50 – $1,000 at this level. This can be a “how-to” product that you create once but you sell it over and over again. You do the work once but collect royalties over and over again. It’s does not involve an ongoing use of your time.
The rules may be a little different if your offer and product is not informational in nature. But same concept. Either C2B or B2B, application of funnels is applicable alike.
Stage 4 (The Done For You/DFY)
This is where most of your profit would lie. It’s a premium product that may involve your personal time in helping your customers on an on-going basis. The more of your personal time is involved, the deeper in the funnel the stage is and the more expensive it gets for your prospects.
If 1% of your total audience from stage 1 ends up in stage 4, you’d be printing money. If this is done right, 80% of your revenue will effortlessly come from stage 4 of your sales and marketing funnel.
So if you want to learn how I’ve setup a simple funnel and how I drive traffic and leads through it for free online on a daily basis, reserve a seat in a free class here: http://OLATux.com/mastermind
ABOUT YOUR HOST ::::|
Ola “Tux” Abitogun is the Creator of myEmpirePRO. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and father to their 2 Boys. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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