The Offer-Conversion Funnel directly affects your success online. Find out why in this episode of Web Profits TV.
Now for those of you who don’t know me, I have a stutter and it comes out when I get excited… and this stuff is exciting. So let’s get into it.
The Offer-Conversion Funnel directly affects your success online. Here’s why…
Your conversion rate will always be highest at the top of this funnel because the action you’re asking your prospect to take reduces in commitment the higher up the funnel you are – at the top you’re asking your prospect to enter their email address to request a special report, and at the bottom you’re asking them to pull out their credit card and buy something from you… plus everything in between.
The biggest challenge most businesses face is that their conversion rate isn’t high enough to make advertising profitable, and scalable.
An effective online marketing strategy includes offers across every level of the Offer-Conversion Funnel, for prospects at different stages of the buying cycle.
At the very beginning of the buying cycle (we’ll refer to it as the ‘research stage’) you should be advertising the highest-converting / lowest commitment offer – the one at the top of the funnel – to get them into your database and start a relationship with them.
Then as they move through the buying cycle you advertise offers that move down the Offer-Conversion Funnel until you finally make the sale.
You can use many different advertising and marketing tactics to move prospects through the Offer-Conversion Funnel but the most powerful tactics to use are 1. email marketing, and 2. remarketing.
One of the biggest reasons why most businesses fail online is because they go straight for the sale the first time they advertise to a prospect. Obviously this is the hardest thing to achieve, which means a lowest conversion rate. And that often means that their advertising is unprofitable, and unsustainable.
If that sounds like you, then develop offers for every step of the Offer-Conversion Funnel and use email marketing to move them down the funnel… and support your email marketing with remarketing across Facebook and Google.
Developing strategies around every step of the Offer-Conversion Funnel will ensure you can continue to advertise online as the cost of advertising increases with the growth in competition online.
This is super powerful when implemented the right way.
At Web Profits we want to change the way business is done online. To find out more or to get in touch, simply visit webprofits.com.au
I hope you enjoyed this episode of Web Profits TV and I look forward to speaking with you in the next video.