How to Build a Cash Converting Marketing Funnel

Louis Foong 0

Ask any business owner which resource they want to have more of, and they are almost guaranteed to tell you that they’d love to have more time or money. There are a lot of gadgets, apps, and processes currently being used that are designed to help business owners make better use of the time that they have, and many of these can also help them out on the money front as well. Implementing great marketing automation is not only a time-saver but can also be a great profit-booster – if it’s done right. This infographic from eliv8 outlines a 7-step formula that will help your business create a high-converting automated marketing funnel. Let’s see what they recommend.

Step 1. Product/Market Fit.

Does your product really fit the market? Does your solution really make sense for the audience that you’re targeting? The first step is to really understand your solution and your audience and to make sure that there is a real fit.

Step 2. Choose Your Traffic Source. You have a few choices here. Paid ads, targeted traffic through sites like Google or Facebook, SEO, email marketing, content marketing, local search – there is no shortage of options. Traffic is the easy part, the real trick is to make sure that the rest of your funnel is in place once your audience sees your advertising.

Step 3. Offer a Lead Magnet. Once people click on your ad, give them a hook to hang on to. Create a specific, irresistible offer that qualified leads can take advantage of in exchange for their contact information. A great way to do this is to build an eye-catching landing page – this is also helpful in capturing cold traffic. You can offer a free webinar, video, e-book, promotion, whatever you like. Just make sure that it provides real value.

Step 4. Offer a Tripwire. What’s a tripwire? It’s a low-ticket offer designed to capture as many new buyers as possible. It’s not going to net you the most money per customer, but it will help you to convert a lot of first-time buyers. This is actually more important – it’s a lot harder to get money from someone the first time. Once they’ve already purchased from you, they’re far more likely to do it again.

Step 5. Offer a Core Product or Service. At this point, your new customer has given you their contact information and taken advantage of your great tripwire offer. If they’re with you this far, they are likely interested in your core offering. So remind them what you’re selling!

Step 6. Offer a Profit Maximizer. Profit maximizers include things like 1-click upsells, bundles, subscriptions, memberships, cross-sells, and high-ticket items. Offering maximizers that provide value to loyal customers is a great way to increase the average transaction value per customer.

Step 7. Create a Return Path. No matter how amazing your product or service, customers aren’t going to immediately say yes to every offer you send them – and that’s okay. A return path will allow you to keep in contact with your would-be customer using frequent, strategic communication that inspires them to revisit your website or offer. Loyalty programs, content marketing, and social media reminds your audience that you’re still around and still offering some great solutions.

How to Build a Cash Converting Marketing Funnel

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