You have a sales funnel built; you have your email capture, a couple of emails set up, your sales page or online store ready, and you even have your product delivery in place. Now it’s time for all of the sales to come pouring in, right? Wrong! It takes a lot more than putting a sales funnel in place to produce the conversions that you’re looking for – you have to optimize your sales funnel.
Optimizing your sales and marketing funnel is the process of using testing, statistics, and strategy to create systems that produce high engagement, conversion, satisfaction, and retention for the lowest possible cost.
Essentially, optimizing your sales funnel is the key to creating a successful sales funnel and online business, and here are five specific reasons why:
Quality Over Quantity
Having the right traffic source is key to producing conversions. The last thing you want in your community of followers is a ton of people who are NOT interested in your offers. When you optimize your sales funnel, you can find those interested in your campaign, turn them into leads, and then subsequently create the right content for them based on their habits in your funnel. Some examples of this include creating targeted CPC Facebook ads for your email capture that can give you a pool to retarget later on, or creating an email drip campaign for those who abandon their cart after spending time in your online store. Spending the time to optimize your sales funnel now will save you time later on when you both create and convert leads at a faster rate than you would if you’re constantly trying to appeal to a sample size that is too large.
Statistics Can Show You the Path To Success
Testing your demographics, copy, images, types of ads, and landing pages can provide crucial statistics for your business. Believe it or not, and often, at times, you’ll discover your actual customer is not who you thought they were. Once you figure this out, you can make sure you use the RIGHT message for your campaigns. Overall, setting up legitimate A/B tests and knowing what metrics to use with your emails, ads, and web pages will help you discover predictive insights for which content, offer, and context works best to grow conversion.
Conversions Typically Require Several Interactions
Statistics show that depending on what industry you’re in it can take two to eight online interactions with your brand before a lead turns into a conversion; with businesses in fashion requiring the most, and B2B companies requiring the least. By optimizing your sales funnel, you can create the right amount of interactions to grow your chances of converting leads into sales. These interactions can include anything from engagement on social media to emails, newsletters, and even text/push notifications. Remember, this does not mean spamming your leads with messages. This means using the insight you’ve gained from link clicks, email opens, and A/B testing to build a relationship with your leads.
Optimization Will Improve Brand Loyalty
From a consumer perspective, there is nothing worse than receiving what is perceived as “SPAM” from a business who you initially trusted. You feel disappointed and duped into supporting a brand that you thought had business integrity. Perceived spam will cause mailing list unsubscribes, Facebook page unlikes, social media unfollows and complaints at an alarming rate. Trust me, customers will be appreciative of you contacting them only with messages that are important to them. In fact, customers tend to stay subscribed to your email list longer when they feel that the emails you’re sending are personally for them and what they like. One of the biggest mistakes that businesses can make is sending emails to their entire list when only a small fraction of their list is even interested in that product. Optimizing your campaigns for those who are actually interested in that particular email or Facebook ad will make them happy to be a part of your online community.
You’ll Save A LOT of Money
Let’s face it. At the end of the day, you’re in business because you want to make money, and not just a few sales here and there, a nice healthy profit so that you can have a fruitful business. Not optimizing your funnel can devastate your return on spend, as you’ll waste a ton of money, labor, and time on campaigns that are not converting at a rate needed to have a sustainable business. To make matters worse, you’ll end up frustrated because of the money you’ve wasted. You could potentially leave money on the table and miss out on marketing opportunities you would have had if you had optimized your funnel to address customer characteristics at certain points in your funnel.
So exactly what does optimizing your Sales Funnel consist of?
Well, to get to the point but still provide insight, an optimized Sales and Marketing funnel should have these elements:
- Targeted Paid Facebook ads
- Segmented Email Marketing Campaigns
- Tracking Campaign Statistics
- A/B Testing
- Drip Email Systems
- Results Oriented Copy
So what are you waiting for? Optimize your sales funnel now, and making that moola!