Building a Sales Funnel That Sells with Wordpress
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Having a nice looking website is great – but if you are not able to lead your prospect down the right path they will never become a customer / client. How to build a sales funnel within WordPress. A sales funnel is a structured method for developing products and/or service offerings at multiple price points, designed to entice prospects to first divulge their contact information, then make an initial purchase, followed by additional purchases. The Marketing Funnel, done right, maximizes the lifetime value of a client.
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Building a Sales Funnel That Sells with Wordpress
- 1. Building a Sales Funnel (That Sells)
- 2. A Little About Me….
- 3. So what exactly is a Marketing/Sales Funnel?
- 8. A structured method for developing products and/or service offerings at multiple price points, designed to entice prospects to first divulge their contact information, then make an initial purchase, followed by additional purchases. The Marketing Funnel, done right, maximizes the lifetime value of a client.
- 9. Some interesting facts… If you follow up with a web based lead in within 5 minutes, you are 9 times more likely to convert them. The Best Time to email prospects is between 6:00am - 3:00pm In 2007 it took on average 3.68 cold call attempts to reach a project. Today it takes at least 8 attempts.
- 10. Some interesting facts… Email Marketing has a 2X higher ROI than cold calling, networking or trade shows. A Nurtured Lead makes a 47% larger purchase that non-nurtured leads.
- 11. Why do people buy things? Gain Fear Pride Value Imitation
- 12. The Sequence in Critical Just like Dating….
- 13. Consists of ‘just’ 5 Things 1) The Lead Magnet 2) The Tripwire 3) Core Offer 4) Profit Maximizer 5) The Return Path
- 14. The Lead Magnet The purpose of a “Lead Magnet” is to provide an irresistible bribe that hits your target market right between the eyes and compels them to give their contact information in exchange for the promised “bribe.” The Lead Magnet needs to be specific, actionable and provide value beyond what would typically be expected. (In other words, boring “me too” whitepapers don’t cut it.) Since the lead magnet is typically the start of the funnel, it’s also usually the highest leverage point.
- 15. The Welcome Mat Offer Once a customer has taken out their wallet, they're far more likely to leave it out and continue spending money with your company. You want to engineer your offer(s) to maximize the number of front-end conversions by keeping the price-point as low as possible. This is what the "Tripwire" is all about. A "Tripwire" can be a premium (i.e. a football phone or other gadget) or a low-dollar report or book, but it's typically less than $20 and is oftentimes offered for free with some form of shipping and handling charge. The key is, a monetary transaction must be processed...even if it's just $1.
- 16. The Core Offer The core offer is the flagship product or service that your company is ultimately trying to sell. This is what you are known for, and this is where most of your time and energy is focused.
- 17. The Profit Maximizer Whether it's an upsell (offering someone more of what they already bought) a cross-sell (offering them a related product or service) or a subscription (offering them access to a club, community or association), every offer needs something on the backend to increase immediate average customer value and overall engagement with the buyer. Because while a buyer is good, a multi- buyer is even better.
- 18. The Return Path Thanks to the lead magnet offer, we now have the ability to go back to non-buyers and put them into a followup series to increase initial conversions. Equally important, we also have the ability to go back to our buyers who didn’t purchase everything in the sales funnel (i.e. tripwire, core offer and profit maximizer) to increase the average customer value. From “Soap Opera Series” to “Survey Funnels” and even exit offer technology, you need to have proven campaigns in your “bag of tricks” that you can deploy to generate additional revenue from the traffic and leads you’re already receiving.
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- 20. Some Must Have Plugins
- 21. What is a lead magnet? A small “chunk” of value that solves a SPECIFIC problem for a SPECIFIC market that is offered in exchange for an opt-in. Lead Magnet
- 22. The Welcome Mat Offer Offers immediate gratification (no multi- day email courses, newsletters, podcasts, etc… Has a High Perceived Value Has a High Actual Value (contains an “aha” moment Can Be Consumed in 5 minutes or less
- 23. The Welcome Mat Offer Offers an ultra-specific solution to an ultra-specific market Promises 1 “BIG” thing (As opposed to a lot of little things) Speaks to a known desired end result
- 25. The Welcome Mat Offer An irresistable, super-low-ticket offer that converts prospects into buyers!
- 26. Once a customer has taken out their wallet, they're far more likely to leave it out and continue spending money with your company. That's why you want to engineer your offers to maximize the number of front-end conversions by keeping the price-point as low as possible.
- 27. A “Welcome Mat Offer” can be a premium (i.e. a football phone or other gadget) or a low-dollar report or book, but it's typically less than $20 and is oftentimes offered for free with some form of shipping and handling charge
- 28. The key is, a monetary transaction must be processed...even if it's just $1.
- 29. Welcome Mat Checklist ✓Low barrier to entry / impulse buy ✓Easy to understand and explain ✓Seamlessly leads to the core sale ✓Useful but incomplete ✓Brings Credibility ✓Has a high perceived value ✓Has a high ACTUAL value (positive first transaction)
- 30. Types of Welcome Mat Offers Physical Premiums
- 32. Book or Report
- 33. Ala Carte Service Software / Plugin Webinar
- 34. What’s the one thing you can tell or show someone that will make them say “WOW” If you had 2 minutes to impress someone, what would you say, show or give them that would blow their mind? 2 Questions to ask when developing your Welcome Mat Offer
- 35. The Core Offer The core offer is the flagship product or service that your company is ultimately trying to sell. This is what you are known for, and this is where most of your time and energy is focused.
- 36. Has to be an Irresistible Offer
- 37. The Profit Maximizer Whether it's an upsell (offering someone more of what they already bought) a cross-sell (offering them a related product or service) or a subscription (offering them access to a club, community or association), every offer needs something on the backend to increase immediate average customer value and overall engagement with the buyer. Because while a buyer is good, a multi- buyer is even better.
- 38. Types of Profit Maximizers Immediate Upsells Cross-Sells Slack Adjusters Bundles & Kits Value Buckets Line Extensions Affiliate / CPA Offers Premium Subscription
- 43. Affiliate / CPA Offers It Doesn’t Have to Be Your Product!
- 45. The Return Path Thanks to the lead magnet offer, we now have the ability to go back to non-buyers and put them into a followup series to increase initial conversions. Equally important, we also have the ability to go back to our buyers who didn’t purchase everything in the sales funnel (i.e. tripwire, core offer and profit maximizer) to increase the average customer value. From “Soap Opera Series” to “Survey Funnels” and even exit offer technology, you need to have proven campaigns in your “bag of tricks” that you can deploy to generate additional revenue from the traffic and leads you’re already receiving.
- 46. Constant Strategic Communication Automated Followup Exit Offers Banner Retargeting Custom Audience Marketing
- 47. Make sure you broadcast your email list at least once a week!
- 50. To Receive Several Checklists to get started with your sales funnel - Text: SalesFunnel (your name & email) to 38470
- 52. Questions / Comments? Dan Kaufman @danielrkaufman 616.633.7117 dan@danielrkaufman.com