Back End Profits of the Sales Funnel
September 8, 2018
September 8, 2018
Let me begin by quickly describing what a sales funnel is. The aim of a sales funnel is to take a site visitor through a process of buying a product or service from you. It all begins with prospecting. It's very difficult to build a relationship with anyone if you are not putting any effort into taking a visitor and making them into a prospect.
The end goal is not just to sell them something, but in effect to sell them something over and over. You want a super responsive list of buyers. The first goal is to attract prospects in the first place. The sales funnel is simply a system within your marketing process.
Market research at the outset is really important to create the right offer that will attract the right potential prospect. An example of this would be providing a free report, audio file or video. This begins the conversation about the benefits of what you are selling.
Always make sure to test your marketing efforts to improve your visitor to prospect conversion ratio. The more prospects you have the more opportunities you have to sell them something not only once but many times over. If your leads are increasing then your marketing is working, lead numbers will be your baseline to measure the effectiveness of your marketing campaigns.
Before somebody becomes a prospect you need to offer them something attractive so that you can get them into the sales funnel system, this is known as the front end offer as it is the first thing prospective prospects will be greeted with.
At the front end it is wise to do a lot of testing to improve turning the number of potential prospects into real prospects. What you want is the right people in your sales funnel. You want the passionate over that of the curious.
Once they are a prospect you begin to educate them on the benefits of the products or services you offer. You can also begin to organize your prospects based on interests.
Now that we have given an overview of the sales funnel system and its goals let's get to where the big money is made. The back end is where it's at and if you have done your job well up to this point then you will find yourself in a very good place to substantively increase your profits.
The back end will contain your higher priced products and as mentioned before if you have filtered your prospects and have those that are passionate within the sales funnel then you will have what is known as, a high responsive list, meaning they are more open to what you have to offer, more importantly they really want what you are offering.
Your are now at the up sell stage. keep in mind what you offer here needs to represent extraordinary value. If you have provided them with value up to this point then the action takers will be quick to take you up on what you are selling.
To close, the back end is the profit end, however, if you have not shared value through the sales funnel and if you do not have the right prospects in the funnel to begin with your back-end profits will suffer.