What Is The Purpose Of A Sales Funnel?
by Gerek Allen ~ Last Updated: Feb 3, 2023 ~ 5 Min Read
by Gerek Allen
~Â Last Updated: Feb 3, 2023Â ~
~ 5 Min Read ~
Is a sales funnel right for your business? Or… are you trying to figure out how a sales funnel differs from a traditional website?
If so, this article will fill your brain with real sales funnel knowledge… knowledge that will make you the cool kid on the block.
You’re going to learn what a sales funnel is, the benefits of a sales funnel, the most common funnel strategies, and how to measure the success of your funnel.
What Is A Sales Funnel?
A sales funnel is a business tool that guides visitors through a pre-defined path. Â
You come in from a wide net of entry points (social media, blogs, videos, podcasts, etc)... and you exit the funnel in the same place everyone else does… with no exceptions.
It’s kind of like going to the DMV.Â
You show up because of a few ‘entry points’ (license, registration, etc)... you go from one numbered desk to another (... as to why, no one knows)… but at the very end, you walk out the same door as everyone else… UNSATISFIED with your experience.
See… that’s a sales funnel… albeit a very bad one.
The key thing to remember is a sales funnel… when built right… can dramatically change your business.
You can go from a little fish in a little pond, to a BIG FISH in a BIG POND… or a big lake… or maybe even an ocean. (don’t get caught up on fresh water vs salt water technicalities though…)
What Are The Benefits Of A Sales Funnel?
Sales funnels have many purposes or benefits to your business.
For one, sales funnels convert so much better than a traditional website.
Let’s say you’re selling Sham-Wow towels and you have an awesome military-grade carrying case that’s perfect to carry your towels in.
On a traditional website, your customer adds the Sham-Wow to their cart… and you hope they wander around some more, adding the carrying case before checking out.
With a sales funnel, your customer will not only see the carrying case, but they’ll have to make a buying decision either to buy it or not.
See how much more powerful that is?
‘But wait… there’s more!!’ (is that even the right commercial?)
Because of the pre-defined path, you will have much more predictable outcomes with revenue and sales… especially with enough data.
You’ll get to the point where for every 100 people who go through the funnel, you’ll make ‘X’ amount of dollars. That’s powerful for strategic planning.
Another benefit of a sales funnel is how it builds rapport, nurtures relationships, and develops trust in ways that can’t be measured.
Yes… email is a form of a sales funnel.
When a customer lands on your list and they go through an automation sequence, they are sent down a pre-defined path.
If you do email right, this can be the most powerful sales funnel in your business.
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What Are The Most Common Sales Funnel Strategies?
Even though there are a ton of different sales funnels strategies, the most common are lead generation, webinar, core offer, and book a call.
Lead Generation Funnels
Lead generation funnels are great for building your list, and your list is the most valuable tool in your business.
The concept is simple… offer something of value in exchange for their contact information.Â
The ‘value’ can be something free (recommended) or low-cost.Â
Lead-generation activities put people into the top of your funnel. (hint: email takes over from there building connections)
Webinar Funnels
Webinar funnels are great for selling products in the $500 - $2000 range.
Once you get past a certain price point on your product or service, the sales cycle lengthens.Â
People have more questions or need more emotional buy-in to pull the trigger. Webinars are great for this… and they can be live or pre-recorded.
Core Offer Funnels
Core offer funnels sell the primary product or service.
The truth is your business will dictate when and where your core offer funnel will appear.
Physical product businesses have core offer funnels for each product.
Digital product businesses may have low-ticket offers, mid-ticket offers, and/or high-ticket offers… and the core offer funnel might fit anywhere in the mix.
Service-based businesses usually want to book a call or get their phone ringing.
It all depends…
Book-A-Call Funnels
Book-a-call funnels are the best way to sell high-ticket offers at $1k-$2k and higher.
When you get into price points that are a good chunk of change, people want to speak to a real-life human being.
If your business has a high-ticket offer, doing calls with your clients will yield you the best results.
You build trust on the phone… you build a connection… you tailor the conversation to meet their needs.
How Do I Measure The Success Of My Sales Funnel?
The corporate and ‘boring answer’ to this question is to get data… analyze it… and make tweaks.
Yes… that’s the right answer, but it’s not fun… so another point of view is needed.
Like… is the dress blue or gold?
The point is to also use your gut instincts. Get feedback from your customers.Â
Ask them questions. Ask them what they loved. (hint: asking if they ‘liked’ it or not is a yes or no answer… AND it leads to negative emotions)
Be of service. Genuinely care about their results. Make sure you don’t stop until they get their results.
If you under-promise and over-deliver, and your customers get a true transformation... you won’t wonder if your sales funnel is successful or not. They’ll let you know.
In Conclusion
The purpose of a sales funnel is more complex than a simple answer.Â
Hopefully… as promised… you can drop some nuggets of gold in a ‘sales funnel’ conversation as the cool kid on the block.
More importantly, if any part of this article helps you in your business… then it’s Miller time!
If you still have questions or want to know how we can serve you by building the most badass sales funnel system for your business, then book a call with us.
We don’t bite. (fingers crossed)
To your dreams….
Gerek Allen
Co-Owner iTech Valet
Entrepreneur, patriot, CrossFit junkie, IPA enthusiast, loves to travel to tropical destinations, and knows way too many movie quotes.
About iTech Valet
iTech Valet specializes in web design and content marketing for online entrepreneurs who want to share their expertise.
Services Include:
- Web Design
- Graphic Design
- Sales Copy
- Funnel Building
- Authority Sites
- Membership Sites
- Course Creation
- Email Systems
- Content Marketing
- Competitive Analysis
- Tech Integrations
- Strategic Planning
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