How to Grow An Online Business With Funnels
Service Based Businesses Funnels (for SEO, Web Design, Marketing firms)
The framework below has been used extensively by top marketing agencies, like Neil Patel in service based industries and consulting businesses. This framework is critical to use especially in the service industry because you need to stick out…otherwise your slogan might as well be “just another service company.” Who the heck wants that?
What can make you stick out instead? Create a more compelling story and motivation for what you do that speaks directly to your ideal client. THAT will make you memorable.
What If My Direct Competitors Aren’t Running Ads or Have A Funnel Set Up?
Two things:
- GREAT!This is an opportunity for you to showcase your incredible skills picked up in. Remember, the importance of branding up above (make you stick out)? Branding has many elements (ads, funnels, compelling story, motivation for what you do, etc). Whoever has the best branding will WIN.
- You don’t necessarily need to look at direct competitors. Look at competitors much larger than you–they have the budget to actually run and test ads that are closer to being statistically significant. You want to model people/businesses who are more successful than you, trust me, you’ll save yourself a lot of money and time.
Keep These In Mind Before We Dig Into Funnels:
- Your well-designed website should ensure both purposes below are covered:
- Your design skills are displayed
- Your lead magnet is advertised
- Qualified leads are a result of traffic sourcesnot necessarily the funnel. The funnel will help you qualify and convert the lead, but the source of traffic determines the quality of the lead.
- Think of it this way…say you have the same exact sales pitch (funnel) that you take to two different markets (traffic sources) for a Ferrari (work with me here-extreme example to illustrate a point!). If you take this pitch to a wealthy neighborhood and a poor neighborhood, where do you think your sales pitch is going to be more effective? Wealthy neighborhood hands down! Same funnel, different source. BIG DIFFERENCE!
Traffic Sources:
- SEO: Geo-Targeted to be state or city specific
- PPC: Targeting design related placements/sites where business owners visit frequently
- Facebook: Targeting design related business pages & groups where your target audience frequents
- Competitive sources: Use WhatRunsWhere.com to find where your competitors buy traffic from to tap into proven sources.
80/20 Principle Tip: These sources will facilitate the highest quality leads for your funnels & are the simplest/easiest to deploy.
Funnel Facts-What You Need to Know:
Start with one funnel. Yes, just one! It’s important to test the effectiveness of each step of the funnel to help fine-tune it. Once you have fine-tuned one sales funnel, you can add a second. Focus on qualityof your sales funnel, not quantity.
The 3 steps of a funnel and their goals:
- Lead magnet:Get prospect’s email so you can continue to nurture the lead. You need between 5 and 20 touchesbefore most people will buy anything.
- Tripwire:You want to break even on whatever you paid to get the lead, which is why you need to charge for a tripwire. This is what pays for your marketing!
- Core Offer:Once someone has given you commitment with their wallet once, they are ELEVEN times more likely to purchase something at an exponentially higher price.
Potential Sales Funnels:
- Lead Magnet -> Discovery Call -> Personalized Proposal w/ Portfolio -> Emails & Follow-up Calls -> Close
- Lead Magnet -> $20 Tripwire (Logo or Illustration) -> Core Offer segway into $5,000 Website Sale (After A Few Emails & Calls)
- Lead Magnet -> Webinar About Website Design for SMBs -> Application w/ Call + Wire Frame -> Close
Two Funnel Examples-Consulting Package as Ultimate Goal (Core Offer):
Example 1:
1.Lead Magnet:Provide a checklist. Yes, a checklist. Based on your X amount of experience in doing X. Make it simple and easy to follow. Back up your checks with facts, figures, and examples (of your own clients if possible). Again, this can lead into a free consultation, but personally, try not to lead with a freebie version of your core offer.
2.Tripwire: Offer a condensed version of your consulting, or a mini video series teaching a specific subject. You can also try offering a report of findings, or an extensive step-by-step case study. Make it as much a story about working with you and what’s it like, as it is an actionable and valuable process they can use independent of you.
The goal:get them to trust and like you. This is what will get them to choose you over choosing someone else.
3.Core Offer: a. Your consultancy package. I recommend selling for a minimum of 3-6 months at a time.
Example 2:
1.Lead Magnet: Free report, case study, info graphic, 5 minute instructional video –> I advise you do one of these and lead INTO a free consultation. Do not lead with the free consultation. They don’t know you from Adam and it’s going to convert extremely low.
2.Tripwire: Offer a paid initial report or audit on their website (by the way, as explained in this article, you don’t always need to have a tripwire); a smaller version of your core offer, or a piece of your core offer. For example, if you offer SEO services, you may offer a “booster” pack of onsite SEO for a much lower intro price, or a discovery session for $47 where you identify the best places they could quickly improve their rankings.
3.Core Offer: Your consultancy package. I recommend selling for a minimum of 3-6 months at a time.