There’s more than one way to sell! And there’s no right or wrong way. But there is a “best” option for your business.
You’re probably heard of the sales funnel as a way to organize your product sales and keep clients in the flow longer. But did you know there are multiple types of sales funnels? Finding the one that works the best for you will open up more revenue and higher profits! Here are three of my favorites.
Traditional sales funnel-
Cons: It takes a LOT of leads flowing through before the sales really start to move. If you have an expensive, high end core product, sometimes your free leads are not the right prospects and they don’t convert well.
This traditional funnel utilizes a freemium to bring in leads, then you offer them a low cost product pretty quickly. The low cost option helps you identify the interested leads and then you offer them a core product, followed by upsell 1 and 2.
Here’s an example: Wedding Cake Store
Free: free taste test for all brides
Low Cost: Cupcakes for the engagement party
Core Product: The Wedding Cake
Upsell 1: Sheet cakes for extra guests
Upsell 2: 1st year anniversary cake
Here’s another example: Author
Free: Download the first two chapters of the book
Low Cost: The Book
Core Product: A course that goes along with the book
Upsell 1: The audio version of the book
Upsell 2: The kindle version of the book.
Pros- This funnel creates more income with less leads. I built to 6 figures in sales my first year using a flip funnel. We were able to pull more sales out of our leads and didn’t leave any money on the table.
Con- It’s hard to automate. People don’t buy a high ticket item without a personal conversation.
Example: Counter tops
Lead comes in
High end product: Granite
Mid cost Product: Butcher Block
Low cost product: Laminate
Free: DIY kitchen makeover tips
Example: Business Consulting
Lead comes in
High end product: Consulting Services- We do it for you
Mid Cost Product: Coaching Services- We teach you to do it
Low cost product: Attend a workshop- Learn a lot in a few days
Free: Follow the blog for great business tips
The ecosystem is designed to keep customers for life. Apple is a fantastic example of an ecosystem. The have iphones, macs, ipads, itunes, and the apple watch. Apple users are loyal, they use many of the product lines, and they update when a new one comes out! The idea of the ecosystem is to have several different offerings that will interest the same person, and have updates for each one that can be released throughout the year for continual engagement and sales.
Pros: Keeps clients in the flow and purchasing more from you.
Con: I don’t see any real cons. It’s more that it doesn’t fit for every single business.
Example: Landscaping company
Product 1: Landscape design
Product 2: Lawncare
Product 3: Leaf removal
Product 4: Outdoor features
Product 5: Winter yard services
Some of these products are needed seasonally, like lawn care, leaf removal, and winter yard services. Others like the landscape design and outdoor features can be updated each year.
Year 1: Create the overall landscape design and build a pergola.
Year 2: Create the design for all of the seasonal flowers in the beds and install a water fountain
Year 3: Expand the design plan to add for new outdoor features. Build a fire pit and outdoor cooking area.
The idea is to keep your clients and continue offering them great services.
Which sales funnel is right for your business? We would love to talk with you and help you map out your sales strategy. Contact us for a free consultation.