This 5 step conversion funnel is particularly well suited for selling information products online, however the principals can also be applied to the sale of products and services. A conversion funnel is a series of webpages that are strategically used to turn a visitor into a customer. A conversion funnel is used to support the customer journey using psychology and sales techniques to move visitors toward purchase.
The most important thing to consider when creating your site architecture is the conversion path(s) for your visitors. The following conversion funnel has been used by many websites in a wide variety of industries to dramatically increase the number of visitors that turn into profit generating clients. This is sometimes called a conversion ladder, which is fitting because the idea is to get your client to take a series of small simple steps rather than asking them to just dive into your core offer.
In this conversion funnel example, the sequence is critical. Don’t skip steps. By following this sequence you will dramatically increase your conversion rates and total revenue.
The first step in a conversion funnel is called the "Lead Generator". This is some type of an offer that will entice someone to give you their contact information such as name and email address. As the first step in a conversion funnel, the goal is to drive new leads into your funnel. To do this you are going to offer a small chunk of value for a specific market, offered in exchange for an opt-in so that you can continue to market directly to them and build a relationship that will lead to a purchase. However, for this to be effective it must do all of the following:
- It must be as specific as possible. It must:
- speak to a specific persona
- solve a single specific problem, not multiple problems
- provide specific benefit, not many different benefits
- be consumable in a short and specific time
- only be available for a short and specific time
- It must offer instant gratification, short and consumable, not long and drawn out
- It must move someone down a path of building belief and rapport
- It must be valuable and provide some grand and satisfying idea
Asking someone to subscribe to your newsletter is not a good lead generator. These are good lead generators:
- Free Giveaways
- Something valuable that is related to your business
- Not a product that costs you money
- Not a service that takes your time
Your lead generator should be featured prominently throughout your website, on the homepage, landing pages and content pages. To figure out what your lead magnet should be consider what the most common questions or first steps that a new client is enticed to take.
This is a loss leader. This is an irresistible, super low price offer that converts leads into customers. This needs to be a very small step to ensure that it is easy to do. But, it must get the lead to actually pull out their credit card and pay for something. This creates a fundamental change in your relationship. Once they have pulled out their credit card for you once, it is infinitely easier to get them to do it again. You have to keep in mind that the likelihood that your client will ultimately continue along the path and buy your core offer will be determined by their experience with this lead converter.
The same types of things that make great Lead Generators can also make great Lead Converters, but they should offer higher quality and more value. Keep in mind:
- Products can make great lead converters, but you don’t want to lose money. The idea is to give the customer maximum value.
- Services can make great lead converters because it gives you a chance to demonstrate your services, emphasize the value and build a relationship that moves them toward your core offer.
This is your primary product or service that makes you money. It still must be providing value well beyond the expense, at least in the perception of the customer. The best advice here is to remember to frame your offer with good sales practices, build value, build belief, build urgency. Most people understand value and belief, but not urgency. You have to make them believe that they have to act now. Until they believe they must act now, you cannot expect them to act. That is just human nature.
Here are some more useful tips for your core offer:
- Provide proof of value. Nothing converts like proof.
- Put the proof at the top of the offer.
- Sell based on benefits to the customer, not product features.
- Keep it simple and ask them to buy.
This is where you turn customers into clients. Every core offer should have options on the backend that increases the immediate customer value. For instance, best buy sells warranties, surf shops sell accessories, web hosting companies sell additional bandwidth, grocery stores sell gum and magazines, doctors sell check-ups. Remember to offer additional value right when your customer has their credit card out. They have already decided to buy from you, that is the perfect time to push for a little more.
There are two types of recycling programs.
- If they won’t buy the full price core offer, consider offering a discounted trial program, less expensive product or service. Give them incredible value even at the expense of your margin. Its better to make some money from each prospect and keep them engaged with you, rather than missing out completely. A bird in the hand is worth two in the bush.
- Once you have sold your products and services, try to help your customer find other related products and services that they may be interested in. This is the right time to feature affiliate offers. Make sure that the affiliate products and services are well qualified, highly relevant and a great value. Remember, these are your customers and your relationships. If you treat them well and always provide incredible value, you could continue to benefit for a lifetime.