The Meaning of a Sales Funnel plus Seven of the most common funnels
So, you may be asking "What is the Sales Funnel Meaning?" Well, A Sales Funnel is a series of webpages, arranged in a specific order. The goal is to attract potential customers and send them through a controlled sales or info collection process. On each page, the visitor has one option other than leaving. Although in some cases they can decline an offer and still go to the next one in a sequence.
There are several different types and variations of sales funnels. Here are some of the most common options that we will be going over:
Lead Magnet Funnel
Video Sales Letter (VSL) Funnel
Sales Letter Funnel
Auto Webinar Funnel
2-Step Tripwire Funnel
The Lead Magnet Funnel
Attract visitors to the funnel by the use of a free gift (The magnet to attract them). Such as information, like a PDF eBook. You want your bait to attract ideal customers to your niche.
Once landing on the first page, from one of the links that you advertise, or post on social media, etc... The visitor has to provide their email, in return for the free gift. I recommend emailing the gift only, so those who opted in are forced to check their spam if they cannot find your gift.
You can collect more info, such as a name, phone number, address, etc.. But only the email is required. And by collecting as little info as possible, more people are likely to put in their info. Just keep in mind that the more info you collect, the higher the quality leads you will get.
The point of collecting their email is to build a list that you can send value and promote offers to. When done correctly this can be extremely profitable with no money spent on other marketing methods, such as Facebook Ads.
The Video Sales Letter or VSL Funnel
A video sales letter funnel is a video, that you record, selling your product. There are several ways to do this.
You would do a traditional video, introducing yourself, what you do and why. Then explaining the product benefits that your viewer will receive. You only record it once and then upload and run traffic to it.
VSL's are great because they are essentially a salesman for you, who works 24/7 and who you don't have to pay. After you set it up, then it can be runautomatically, just by running traffic to the VSL Funnel.
It is recommended to have an Opt-In for the first page, and before the sales video page so that visitors have to enter their email to watch. This is not necessary, but again it is recommended to build a list that you can send value and Ads to for free.
On the video page, you can alternatively hide the continue to purchase button, until the video is almost complete. You can also hide the controls and timeline for the video, this helps keep viewers watching as they have no idea how much is left.
(Note: I also have a HUGE TIP for this if you watch a lot of other people's sales videos or webinars, and you want to save time. Just message [email protected] and I will reply with the tip. Or reach out on Facebook, I encourage you to add me as a friend as well!)
Once the "Submit" button is available, then when clicked it takes them to an order page. (You can also make an order form appear below the video on the same page). If the order is filled out then an "Order Bump" will appear.
This is a one time offer with a huge discount, your potential customer has to check it to add it to their order. Without filling any more info.
Upsells? Downsells? OTO?
After this, there are a few ways you can go. You can have the next page be a Thank You page, ending the funnel. Or, you can add a One Time Offer or OTO on this page. It is similar to the order bump where a customer only has to click "Yes, They Want it!" (Or something similar) to add it to their cart, using their info filled on the previous page.
Again, this should be a very limited offer, that they can only get in this funnel. You can add a bit more details vs the order bump as it has its own page. But you should still keep it quite short to increase customer retention.
Next, you may add a Downsell or an Upsell. Again this is not necessary. But it does increase the average cart value of your funnel (More on this later). In most cases, I recommend using both. Use the Upsell to Sell a more expensive item if they purchase your One Time Offer. Use the Downsell to either sell a lower cost item, or split payments for the OTO/Main Offer. If they decline your One Time Offer. A VSL fills all the characteristics and is the very meaning of a Sales Funnel.
You can keep adding offers after this, but I do not recommend going any longer. As this will start to annoy people who may not see your later offers anyway.
The Sales Letter Funnel
This funnel uses a long-form sales letter on the Main page, With an order form page after that. It gets the name because the script we use for our sales letters is quite long. Using the "Star, Story, Solution" Script from the DotComSecrets book by Russell Brunson. I recommend this book and learning the script if you plan to do a Sales Letter Funnel.
You can again place an Opt-In before the main sales page, in order to build your list. (Yes I will keep mentioning this because it is super important!) If they don't buy, you still get their email and you can email them value or promotions later on.
On the order form, you can have an order bump, like in the VSL. Where a customer can opt to add the bump to their order using the info they already filled out.
You can again use an Upsell or a down-sell after this. For sales letters, having a Downsell which always follows the OTO usually works best. But feel free to experiment.
On the Thank You page, which is the final page, you can use a standard thank you and end it. You can also add what is known as an "Offer Wall" on this page. The offer wall will show several items related to what they ordered, similar to an online store. There is the meaning for a Sales Letter Funnel!
Sales letters are generally not as effective as VSL's. And they take a lot more work upfront to write the long script. But they are great if you are not comfortable on camera.
The Webinar Funnel
The webinar gives you more time to close potential customers at a higher price point. As most webinars are over 1 hour long. This gives you a lot more time to connect and relate with your customers.
The webinar funnel is split into two phases. During phase one, visitors register for a seat to attend the webinar. As well as hear success stories and increase curiosity leading to the webinar.
During the second phase, visitors attend the live webinar. After the webinar then viewers are sent a sequence of emails if they didn't buy. Letting them know how much time they have left. People who signed up but did not watch would be sent replays of the webinar.
Once the allotted time expires (usually after a few days of the webinar). Then you should close it down, as this creates real urgency and scarcity. Don't worry, you can record another webinar and do the process again.
The Auto Webinar Funnel
The auto webinar is only used after you have done the Live webinar several times and proved your offer. Take your best converting live webinar, and upload it as a VSL. Auto Webinars can be played every hour on the hour.
Someone signs up on the Auto Webinar registration page. Then they are taken to a confirmation page which shows the time of the next webinar.
You can have the webinar start for them on the next hour (remember to send a reminder email before). Or if it is starting later, like within a few days then you can send indoctrination videos. These will provide more value and information on your offer. Getting them excited and waiting for the actual webinar.
After the webinar playtime has passed. If they missed it, then you can send out a replay, giving one last chance to get the offer.
What is the meaning of a The Bridge Funnel?
Use a bridge funnel to either pre-frame the visitor, or to connect two different but related ideas for them.
You generally start with a squeeze page (Opt-In) on something the visitor is familiar with. And collect their info, next you send them to a page where they can get more information and learn about the recommended product. Bridging the gap between what they know and what they need.
A bridge funnel is also very useful to network and affiliate marketers. For pre-framing the customer, before sending them to a page that is out of their control. Or for introducing them to a product, that they need, but don't know they need.
The 2-Step Tripwire funnel
Here is the Sales Funnel meaning for A tripwire is a low ticket front end offer that is so irresistible, that people have to purchase it. After they put in their buy info, you can also have an order bump.
For a tripwire funnel to work you should also have an OTO. The One Time Offer can be activated in one click on the page after the main order.
To make the most of the funnel, it is also recommended to have an Upsell and/or down-sell. The idea of a tripwire Funnel is to break even on your ad spend with the front end offer. The One Time Offer, One Click Upsell, and One Click Downsell should be higher ticket items. And this is where the majority of the profits are made.
Finally, the beauty of a Tripwire is that after somebody buys the first offer. If they do not continue, you can still email them with the OTO/Upsell or Downsells.
These are just examples, used to show the meaning of certain Sales funnels. They are all essentially a controlled sales or collection process. By using funnels you can greatly increase profit because each offer in the funnel (OTO/Upsell/down-sell) adds to the final cart value.
For example, if you are running ads and you only have 1 offer for $10 then your potential max profit per customer is $10. If you have a $10 offer, followed by a $37 OTO, followed by a $297 Upsell. You potential max per customer is $344. Now, this, of course, won't always be the max, but your average order value will be much higher than $10!
WITH THE SAME ADSPEND!
I build my funnels with ClickFunnels. It is the easiest to use builder I have found so far, with the shortest learning curve. And they include templates for these funnels and more to get you started FAST!
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Whether you sign up for ClickFunnels through myself or somebody else, PLEASE reach out over Facebook or email and let me know if you need ANY help setting up your funnels. I would love to assist!