What Are The 3 Core Funnels For A Business?
by Gerek Allen ~ Last Updated: Feb 4, 2023 ~ 6 Min Read
by Gerek Allen
~Â Last Updated: Feb 4, 2023Â ~
~ 6 Min Read ~
Are you wondering what funnels you should have in your business? If so, this article will give you the low down on the 3 core funnels you need in your business.
You will learn about Lead Generation funnels, Sales funnels, and Retention funnels.
But it won’t stop there. You’ll also learn the benefits of each funnel and how you can implement them into your business… and fast.
Let’s get to it.
What Is A Funnel?
A funnel is a business tool that takes people down a pre-defined path, where the only options are to either ‘take an action’ or ‘exit out’ of the page.
It’s kind of like leaving an arena after a concert or game… you’re starving… and the only thing in sight for the next 30 minutes is the cart with the bacon-wrapped hotdogs.
You either eat the food and play Russian Roulette with your stomach, or you starve until you get home… being cranky the whole time.
Either choice is bad… but it’s a true ‘yes or no’ situation. (those bacon-wrapped hotdogs can be legit, though…)
Why Are Funnels Important For Businesses?
Funnels help businesses in so many ways.
For one, funnels automate and streamline processes that make your business more efficient. That sounds pretty darn good.
If you have a funnel with 4 stages, each stage can have an ‘action’ tied to it.Â
It can be an email to a specific person, an addition to a database, a work order created… literally anything.
Funnels also bring consistency to a business.
If a lot of your sales are done via funnels, the sales pitch is the same every single time… 24/7. The funnel won’t call out sick, or have a sore throat, or anything like that.Â
The results will be consistent too.
It’ll get to the point where you’ll know ‘for every 100 people that go through this funnel’, you’ll get this many sales. Knowing predictable revenue is pure gold.
Funnels… specifically sales funnels… increase the cart value for your business.
With order bumps, upsells, down sells, cross-sells, and double-dutch jump rope sells (okay, that’s not a real thing)... cart values can double, triple, or even quadruple from a single-priced offer.
Far too many businesses are cash-flow negative… or operate on too thin of margins. Increasing cart value is the remedy.
The 3 Core Funnels
Lead Generation Funnels
The first funnel on the menu today is the lead generation funnel. It does exactly what it says it does… generates leads.
Lead gen funnels are simple funnels that offer something of value… usually free… in exchange for contact information.
The goal is to build your list and to get as many people to enter your ecosystem… which is most likely the top of your sales funnel.
Here’s a little nugget of wisdom…
The more steps you require to get the freebie, the less your conversion rate will be… BUT… (and there’s always a but)… the quality of your leads will be higher.
If you want to cast the widest net possible… only require an email address. You’ll get the most leads… but a percentage will be fake emails.
Both are strategies… and there’s no right or wrong approach.
Advanced Tip: give away some of your best content for free to build trust. Play the long game. If your content is really good, people will want your stuff, and you’ll get better leads.
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Sales Funnels
The sales funnel is where you produce the majority of your revenue.Â
Sales funnels can be low-ticket items, your core offer, mid-tier, high-ticket… anything.Â
A typical sales funnel structure is…
- Sales Page
- Checkout Page with an order bump, or two
- Upsell Page (maybe 2 MAX)
- Downsell Page (if applicable from Upsell Page)
- Order Receipt Page
You don’t want to have more than 2 upsells… otherwise you become the annoying uncle who makes you cringe at family gatherings.
If you’ve purchased a domain from GoDaddy, you’ve experienced a masterclass in cringe.
Advanced Tip: Split test your price points on your products or services, including the order bumps and upsells. You might be surprised how the price may not matter if the offer is strong enough.
Retention Funnels
This may be a little controversial to some, but email is a form of a funnel.
When someone gets on your list, they go through an email automation. Isn’t that the definition of a funnel… going through a pre-defined path?
Of course it is.
Email… when done right… can make your business more money than anything else.Â
If you truly care about your customers and build real trust with your list… not to mention deliver real value… there’s no better tool in your toolbox.
You probably have a person or business where you see their email in your inbox, and you read every word.Â
That’s because you trust them… or it’s from your mom, and she’s asking how to do something on her iPhone again.
How To Launch The 3 Core Funnels… Fast
You have 2 options… to launch them yourself or pay someone else to do it for you.
If you do it yourself, use a solid and reputable software service… or services… to get everything you need.
We recommend using DropFunnels for your website and funnels, and Active Campaign for your email CRM.
DropFunnels has a huge library of funnel templates to choose from… so the simplest way to get going fast is to choose a pre-done template… drop it in… make a few tweaks… and you’re off to the races.
You can check out DropFunnels here.
If you already have a software or funnel-building platform that you love… that works too. They likely have templates to choose from.
If they don’t… you may want to consider your ‘bye Felicia’ speech.
On the other hand, if you want customization or something more substantial and advanced than a template, book a call with us, and let’s discuss your situation.
We’d love to see if we can help… or if not… at least point you in the right direction.Â
We are much more concerned about working with the right people instead of just making a buck.
Sound fair?
In Conclusion
Your business should AT A MINIMUM have these 3 core funnels. If you don’t have them, you should put a plan into place to get them into your business as fast as humanly possible.
Your business depends on it.
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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