Building a sales funnel is something every business should do and continue to tweak regularly but, many businesses don’t actually have a sales funnel. They just advertise here and there trying to increase sales. Strategies are often sporadic and too late in the game meaning that business owners are waiting to advertise until there is a lull when ideally you want to advertise proactively to prevent the lull.
But, how do you build one and what is a sales funnel really?
First off, it’s ok, if it’s a new term to you. If you don’t yet have a sales funnel in place check out this article that we wrote. It’s a step-by-step guide that shows you how to build a successful sales funnel to help grow your business.
A successful sales funnel tracks the customer’s journey from their first point of research where they initially find out about your company to every step they go through before purchasing a product or service from you. When you monitor and analyze where your customers are coming from and what is making your customers purchase – or not purchase your product you can identify potential problems and fix them which in turn increases your conversion rates.
If your sales funnel is not converting, these issues are the most common we often help clients fix.
Issue #1: There is a lack of awareness
The first stage in any sales funnel is the awareness stage. If no one can find your business or they have never heard about your business it might as well not exist. Having an awareness marketing strategy planned out through social media, digital advertising, radio, Google advertising, or a referral program, is very important to get your company name out there. Having good SEO (search engine optimization) practices implemented through your website is also key to helping customers easily find your business. With the right awareness strategy, even if they are searching for your competitors, you will still have a chance at capturing their attention.
If a lack of awareness is your issue, try these fixes:
1. Start a paid advertising plan
Doing so will help reach a new audience across various platforms with a hyper-targeted approach. Google advertising and social media paid ads are quite affordable and can fit most budgets however spending enough is also important. Set a goal, but also make sure your budget allows you to achieve that goal.
2. Apply Google’s best SEO practices to your website
If people can’t find your business easily on search engines or social media, it might as well not exist. Optimizing your website will help reach more people on Google organically, and the more informative your content is the less you will have to sell them into buying your product or service, and the more they will trust your expertise.
3. Create a referral program
Word of mouth isn’t just people vs. people talking over a cup of coffee. You can inspire word of mouth. Promote your business at events in sponsorship or co-branding opportunities, have other customers refer you on social media, send email offers to existing clients to refer a friend to get a special offer, or align strategically with other businesses that compliment your services and refer clients or customers to each other.
Issue #2: You are trying to target everyone which means you are targeting no one
We often hear from clients that my X product is perfect for everyone! This is great but…when you advertise and promote that product you want to speak to a specific individual, in a specific geographic location to have the best chances of making a sale. For example, if you are selling BMW cars there is a specific age demographic that is likely to buy them, a specific persona that connects to the brand, a specific need to speak to in terms of which model they’re more likely to buy, etc. The more specific of a message you craft, the more likely you are to buy the specific product you want to sell.
If a lack of specific demographic targeting is your issue, try these fixes:
1. Design a customer profile of the target audience you want to sell to
It might sound basic but you wouldn’t believe how much outlining who you are specifically selling to will help your team understand your customer target, and how much this outline will help increase your sales. Give the ideal customer a name, outline where he works, what he does, what his family life looks like, where he hangs out, what his interests are, and then design your marketing campaign around that persona. And, any strategic messaging, imagery, or promotional offer, ask yourself “Would “Bill” like this? Would this attract “Bill” to purchase this product/service? Why would “Bill” like this? Always keep that person in mind and design everything around giving that customer what he wants specifically. You could even design multiple personas, one for each product line, or sales category in your business.
2. Be where your customers are
From which social media channels you post to, which radio channels you advertise on, to which words you use in your paid search advertising campaign, make sure that where you are planning to be, your customers are already there. A mismatch in advertising campaigns we often see is something like a product that is really designed for a business owner say being advertised on a platform they aren’t spending any time on. Or a business is advertising with boosted posts on Facebook when really when someone needs that service or product they need it now and will Google to find out where they can buy that product or service now. A boosted post on Facebook isn’t going to just float by at the right time whereas a strategic Google ad that appears when someone searches a specific term will appear at just the right time. So, although Facebook ads might be easier or cheaper, you might be wasting your time and money if your customers aren’t finding your ads in the right place at the right time.
3. Your ad copy stinks! You need to improve it.
We’re sorry to say it but, we’ve seen some really, really bad ads. Especially with the uproar Chat GPT has made lately, bad ad copy doesn’t sell. If you have advertising campaigns running and they just aren’t converting you need to start testing different ad copy to fine tune your message or to find the message that converts. You’ll also want to make sure your company has a specific tone of voice, and that it’s consistent to establish your brand voice and identity. If you’re a lawyer and write very formally, then a random social media post with slang may discredit your reputation. But, if you own a balloon shop, then you can have fun with your style of writing and don’t have to be formal. Think about your target audience and how they would like you to write your story. Also remember, spell check more than once! Grammatical or spelling mistakes can also discredit your brand reputation.
Issue #3: Your campaigns lack focus and you’re not keeping a close enough eye on it
You can only notice that customers are leaving your sales funnel if you are taking the time to analyze it. And, if you’re trying to dump every customer into the same sales funnel you’re crowding the funnel and it’s not going to convert as much as it could for you.
If a lack of focus is your issue, try these fixes:
1. Slow down and regroup
This one is a bit of a no brainer but, we’re going to stay it anyways. Sometimes you have to slow down before you can speed up. Don’t try and start 5 sales funnels at once. Don’t try to create a one size fits all funnel. You have to spend the time to think things through, outline the steps, create a persona, and then build out one funnel, for one product, and get it working well before you move on to the next. Once you have one funnel working, you can often rinse, repeat, and adjust as needed.
2. Install Google Analytics on your website
Google Analytics is free to use and allows you to see where your customers are coming to you from, what pages they visit on your website, how much time they spend on those pages, and if it’s set up with conversion tracking, you can see how many of those customers either made a purchase, called you directly, or booked an appointment. Having this tool built into your website, and taking the time to look at the statistics will show you where your sales funnel is leaking so you can fix the leaks.
Having built and optimized hundreds of sales funnels in many, many industries throughout Canada and the US, we know how much time it takes to build a sales funnel and how to make them convert. These tips are tried, tested, and true. If you take the time to strategically plan out the stages in your sales funnel, align all your messaging to speak to your key customer, and analyze while making small adjustments to it along the way, your sales will increase. But, if you don’t have the time yourself, or you need help getting it just right, call us. Our experienced team at 3SIXTY Marketing Solutions is always here to help. Whether you need advice, want help getting things set up, or want us to fully take the reins and do it for you, we can do that! We truly are your one-stop shop for all your marketing, advertising, website, and sales funnel needs. So give us a call at our Barrie or Toronto office today or book your FREE, no-obligation consultation, and let’s talk about how we can help you take your business to the next level.
