Sales Funnel Optimization Strategies
Having a quality sales funnel is important for the growth and success of your online business. While having a sales funnel setup is one aspect, optimizing it is a different ball game. Moreover, without proper optimization, the funnel will not yield the expected results you have in mind.
Therefore, in this article, we will provide you with some sales funnel optimization strategies that will aid you in improving conversion rates which will lead to more sales, ultimately leading to more money.
Let’s begin, shall we?
- 1 Employ the Value Ladder Funnel
- 2 Build on Previous Offers
- 3 Generate High-Quality Traffic
- 4 Make your Lead Magnet Top-Quality
- 5 Focus on Landing Page Optimization
- 6 Avoid Excessive Fields in the Checkout Form
- 7 Create an Exit-Intent Offer
- 8 Conclusion
Employ the Value Ladder Funnel
Elias St. Elmo Lewis developed the popular sales funnel. This model is represented by the acronym AIDA: Awareness, Interest, Desire, and Action.
In this model, awareness is the point where the attention of your potential customer is won. Their interest is then piqued when they notice your product, then desire is stimulated as they realize the value they stand to gain from the product, and finally, action is taken after they purchase the product.
While this model still stands true to date and is very much relevant, a better model is now available known as The Value Ladder. It is represented by the acronym BFMB which is for Bait, Frontend, Middle, and Backend.
Allow us to explain better…
Bait: This refers to what is called the lead magnet. The lead magnet is any free offer that you can use to draw the prospective customer into your funnel. We’ll talk more about the lead magnet later on.
Frontend: This is the first product you offer which you expect the prospective customer to make a purchase. Visit https://toddbrown.me/front-end-product-components/ to learn more about the components of a perfect frontend product. The offer must be so irresistible that they have no choice but to make a purchase.
Middle: A more expensive product with a better value to your new customer.
Backend: The most expensive product with the best value.
As you can see, with each step, your prospective as well as existing customers are receiving more value: Hence, the name The Value Ladder.
This model has more advantage over the AIDA model in the sense that you can effectively persuade your customer while offering them value at each step of the way.
Build on Previous Offers
As we said, each step of the ladder provides a new product that has an increased value with each step. Therefore, to make it a continuous value chain, each product must be connected to others within the sequence. The frontend should build on the bait, the middle should build on the frontend, and the backend should build on the middle.
Generate High-Quality Traffic
Your sales funnel will not yield the profit you require if the traffic that is sent to it is low in quality. Therefore, you need to generate high-quality traffic. The difference between the former and the latter is that the latter converts well while the other doesn’t.
To ensure that the quality of the traffic generated is high, you need to recognize your target audience. Click here to learn more ways on how to increase traffic to your site. After doing that, all your marketing should be aimed at that audience. Hence, you don’t have to waste your time on others; focus on that group alone and ignore the rest.
Make your Lead Magnet Top-Quality
Yes, quality is important if you want to convert leads to sales and your lead magnet must be of the best quality there is. Hence, your lead magnet must offer enough value that will interest the prospective customer.
You need to remember that the lead magnet is the bait; if the bait is not attractive the fish won’t bite. Therefore, when putting together the lead magnet, do not do it in a hurry. Don’t think that because it is free then it should be shabby.
The lead magnet is an indication of the real product that you intend to offer in the backend. Bear in mind that the successive steps on the ladder build upon the bait. Hence, if you build on low quality, you might end up not satisfying your prospective customers.
Your lead magnet should be able to solve the problem of the prospective customer. This is the only way they can be converted to become leads. Make sure that your lead magnet is good enough that you can actually charge money for it if you choose.
Focus on Landing Page Optimization
The landing page is where your potential customers come to after clicking the lead magnet. If it is well-optimized, you could end up making a sale. Therefore, optimization of your landing page is a necessity that you should not neglect.
Optimization of your landing page can be achieved using the following practices:
Your Headline should talk about the Product’s Value
Don’t allow visitors to your page to begin to guess what the product is about, they should know once they land on the page, and a good headline will accomplish that easily.
Sell Benefits not Features
Don’t tell them about the features of the product, rather tell them how the product will benefit them and add value to them. If your landing page focuses on benefits, you stand a better chance of getting sales when compared to a landing page that focuses on the product’s features.
Give Social Proof
If testimonials have come in from customers who have enjoyed your product, you can add them to your landing page. The main benefit of testimonials is that they show that what you are selling works. The proof should contain the full name, picture, and results of the customer.
If you don’t have any testimonials, don’t fabricate one; it could end up hurting you badly.
What if the customer is not satisfied, can they get their money back? If you provide such a guarantee, the risk factor is eliminated in the mind of the person.
Let your Call to Action be clear
Your CTA is where you get the visitor to take action. Make sure you have a clear CTA at the end of the sales pitch.
Avoid Excessive Fields in the Checkout Form
Studies have shown that users tend to get overwhelmed by so many fields in the checkout form. The fields should be a maximum of just 8 not above if you don’t want your visitors feeling overwhelmed.
Create an Exit-Intent Offer
In the event the visitor refuses to make a purchase, then you can still gain something using an exit-intent offer. This offer is displayed once a visitor tries to leave the page. The offer is usually a more affordable one than the original one.
This is a way of getting them to make a purchase and become an existing customer. You might not get the profit you want, but in the long run, such a customer could turn out to be one of your best ones.
What are you waiting for? Take the strategies we have just shared and use them to optimize your sales funnel. You’d be surprised at the results you’ll get.