What is a lead funnel?
A potential customer becomes aware of your product, expresses interest in it, and then moves through your funnel to become a paying customer. This process is referred to as a lead funnel. It’s important to understand that your lead generation funnel, your sales lead funnel, and your sales pipeline are all distinct processes that require unique approaches depending on your sales style, company size, and types of products. There’s a lot of talk in sales about funnels and pipelines, but it’s important to understand that your lead generation funnel, your sales lead funnel, and your sales pipeline are all distinct processes.
Basic Components Of A Lead Funnel or Sales Funnel
In order to maximize the amount of money you make from the sale of your digital product, you need to have a reliable sales funnel. If your sales funnel is not strong, your potential for making a profit will be significantly lower, and the effort that you put into developing your product will not be as profitable as it might otherwise be. We will go over the fundamental elements that make up an effective sales funnel in the following section so that you can make the most of its potential.
The Squeeze Page – What is a lead funnel?
The first part of the equation is a high-quality squeeze page. A web page is referred to as a squeeze page when it makes a valuable report, ebook, software program, or other item available for free download in exchange for the visitor’s contact information (usually name and email address). You give the person a free gift, and in exchange, you receive his or her contact information so that you can stay in touch with them.
You can demonstrate that you can be relied upon as an expert in your field by using effective email marketing practices. The potential customer will develop a sense of confidence in you and your suggestions as time goes on. In your emails, you provide a link to your main product’s sales page. It’s possible that the potential customer will click on it at some point in the future.
As a result, the prospective customer is now on the sales page for your primary product. If your sales letter is able to persuade the prospect of the product’s value and usefulness to them, there is a good chance that they will place an order for the product and become a customer. The customer will then be presented with one or more cross-sells, upsells, or limited-time offers (commonly referred to as OTOs). Either this is a product enhancement that can be added to the main offer to provide additional value, or this is a related offer that can help provide additional value to the main offer.
If the customer places an order for it, then they will also be given access to it. The customer will either be given access to the two offers that he or she purchased, or they will be taken to another upsell offer that increases the value of the initial offer even further. A high-quality sales funnel may include a number of upsells, each of which is designed to provide increased value to the buyer while also providing increased profits for the seller.
Downsells and Other Fun Things
Now, if the prospect chooses to decline an upsell, he or she may be offered a downsell, which is an offer that is either identical to or very similar to the upsell that the prospect just declined, but is typically offered at a lower price and lacks one or more components of the corresponding upsell. The purpose of the downsell is to persuade the customer not to leave without first increasing the value of his or her initial purchase; consequently, the downsell is presented as a compromise in response to the upsell offer that was declined by the customer.
As a result, a high-quality sales funnel will include a “squeeze page,” high-quality email marketing messages that persuade the prospect to visit the main product sales page, and a sales page for the main product offer, in addition to a combination of one or more upsells and downsells to add value to the main product for the purchaser and add profits for the seller. Internet marketers can maximize the amount of profit they make from their own digital products by doing so.
Different Types Of Sales Funnel Techniques
There is not just one approach to developing a successful and lucrative sales funnel; rather, there are several. In point of fact, you can make a profit from the products and services you offer using any one of a number of different strategies. Below, you will obtain information regarding some of these various approaches.
In the most fundamental form of sales funnel, you offer a high-quality free report on a subject that is of interest to the prospect in exchange for the prospect’s name and email address that you collect through the use of a “squeeze page.” The next step is for you to send out email messages that contain additional information on the topic of interest and make brief mentions of your primary product offer, alluding to the fact that this product will assist the recipient in resolving or easing the problem that they are currently experiencing (and a key reason why they downloaded the free report in the first place). You include a link to your main product’s sales page in your email messages.
The potential customer will develop trust in you and your suggestions over the course of the conversation; as a result, they will go to the sales page of your primary product. If the sales letter is effective in “selling” the primary product to the prospect, then the prospect will end up becoming a customer. This will result in the prospect’s name being added to a buyer’s email list, which will let you know that this person has purchased from you in the past.
What the heck is an OTO?
You now have the ability to add more to your fundamental sales funnel, specifically one-time offers (also known as OTOs) in the form of upsells and downsells. After a customer has paid for your primary offer, they will be presented with an upsell offer, which refers to an offer that increases the value of the primary offer. This upsell offer could be an improved version of the primary offer, or it could be a complementary offer that increases the value of the primary offer. Because the individual will only have that one opportunity to buy it at that discounted price, we refer to this type of offer as a “one-time offer.”
If the person chooses to decline the offer, he or she may be presented with a downsell offer, which is an offer that is either exactly the same as the upsell offer that he or she just rejected at a lower price or an offer that is comparable to the upsell offer but lacks one or more components that were included in the upsell offer, both of which are offered at a lower price. If the individual decides to purchase this offer, they will be granted access to it and may be presented with additional upsell offers afterward. Even if they choose to turn down the downsell offer, there is still a chance that they will be presented with an additional upsell offer.
Therefore, if you want to make the most money possible off of the products you offer, you should use a squeeze page to collect the person’s name and email address, then follow up with email messages to convince the person to visit the sales page for the primary product, and then present the person with upsells and downsells to increase the value of the primary offer for the person while simultaneously increasing your profits. This is the primary sales funnel strategy that the vast majority of internet marketers use, and if done correctly, it has the potential to be highly profitable as well as highly effective.