Funnel Down Your Way to the Bank

01/11/2018 10:09 am ET Updated Jan 11, 2018

Would You Rather -

Set up an amazing website, have an amazing product but attract zero traffic?

Or attract traffic, but have zero clue on how to turn that traffic into profit and convert it into sales?

If your answer is none of the above then keep on reading.

Unless you’ve been living under a rock for the past decade, you would know that people generate millions from the internet every day.

Jeff Bezos - Chief Executive Officer of Amazon. Net worth: US$98.8 billion (January 2018).
Business Insider. Joel Benjamin
Jeff Bezos - Chief Executive Officer of Amazon. Net worth: US$98.8 billion (January 2018).

What do they know that you don’t? Is there a secret recipe?

The problem is not the lack of traffic or lack of knowledge to convert traffic into profit. Nine times out of ten, the problem is an improper marketing/sales funnel. A lot of people, after setting up their websites or shops, feel reluctant to spend more money to attract customers. They make the mistake of thinking that once people stumble upon their well laid-out websites, they would be hooked.

Now Read This 5 Times: If your marketing funnel is faulty, you will make no profit.

First off, every prospective entrepreneur has to learn how to make marketing funnels work for them. There are four necessary questions that always puts a seller on the path to success in this field. They are;

1. Who’s your dream customer?

This might not seem important at first but really, it is. Know your customer. You have to know the type of goals, ideas and drive that you want your clients to have. Facebook targeting has came a long way in identifying users. (Pages they follow, posts they like, age, sex, location, education level, interests and anything in between). Now do the same but imagine your ideal customer. how do they look like? What music do they listen to? etc. Imagine them using your product/service.

2. Where can these customers be found?

Knowing what they should like or what interests them, can help tremendously in narrowing down your search and figuring out where do they hang out online. (Trust me there are online groups or meetups for everything you could ever imagine). Have you ever heard of the “Cuddle Party New York City” meetup group? It was created for getting adults together to cuddle..

3. How would you get them interested?

Unfortunately, it’s hard to take any cuddle group seriously where the person in charge doesn’t refer to himself as the, “Cuddle Curator.” Jokes aside - Now you know who your customers are and where they hang out. But this is still not enough. How do you make them take notice? You cannot force people to follow you, but you can give them incentives. They have to be baited before they take notice.

4. What should they expect?

Marketing funnels are not just about revenues. Your customers expect results and a good entrepreneur should be able to deliver to satisfaction.

Driving Traffic as an Entrepreneur - Creating and Maintaining a Marketing Funnel

To grow as startup, you need eyeballs on your product. To get traffic, you have to understand how it works. There are three types of traffic;

I. Traffic you own

II. Traffic you control

III. Traffic you do not control

I. Traffic you own

This is the number of people who follow you, who read your mails, letters, and pretty much everything you put out there. You can market your products for this group as many times as you like and everything comes back to you. For this, it is important that you have a list. This would help you focus and know what you are aiming for, which will in turn, push you to get more names on your list. As your list grows, your income will grow too.

II. Traffic You Control

This is different from traffic you own, in the sense that, though you control and can direct it to where you want, you have to buy this kind of traffic first. Which means that for every traffic you direct, a purchase has to be made. The good news is that you can turn this into traffic that you own. All you have to do is to create a 'squeeze page;' a single page where you move all the traffic you purchase. Then, you direct your customers there, where they would provide their email addresses so you can re-target them.

III. Traffic You Do Not Control

This kind of traffic comes and goes anywhere it pleases, without you having any control over it. A satisfied customer can talk about your services on their social media page and if an interested person searches for you, they could be directed to a website that is not yours even if it is related to yours. You can turn this traffic too into traffic you own. This you can do, by re-directing this traffic to your website, where there is a squeeze page.

Setting Up A Ladder For Your Market Value

When you bait a client with a juicy offer, you have to put in more work, to keep them and move them down your funnel. You have to let them see how much value you can add to them. Apart from what you are supposed to be offering your clients, there is always something more you can do. You need to build a value ladder if you want to have a blossoming marketing funnel.

Creating A Market Funnel From Your Value Ladder

People always want to know what they stand to gain, especially if they are going to be making some form of payment.

The clients are the traffic above the funnel. They are the reason why the funnel is there in the first place. Therefore, the first step of the funnel should be the 'bait.' You cannot offer your value to clients without baiting them first. When the bait has been placed, a large percentage of clients would be attracted to your offer. This is when to proceed to the next step on the funnel; the 'front end.'

The front end must have a high value. As should be expected, a number of the previously attracted clients would not be able to afford your services at this point, but surely, those who can, will pay.

Then, you proceed to the 'middle' which is the next service/product with more value. Again, not all clients would be able to afford your services but some will follow you.

Finally, you introduce your highest value added services/product yet; the 'back end.' By the time you have gone through the end of the funnel, you would be left with lesser clients. But they will be lesser clients who would be able and willing to pay for your high value services.

Build up your marketing funnels, make sure that each step is a success before going to the next one. Before you know it, you would be steadily generating enough Besos (Pun intended).

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