BuisnessSales Funnel Strategies for Conversion and Revenue Increase

Sales Funnel Strategies for Conversion and Revenue Increase

Every business is on the lookout for the next sales funnel strategy that will boost their conversion and revenue. Although there are several strategies you can choose from; however, not all of them can generate the kind of results you might desire. In some cases, the issue is not necessarily with the strategy, but as a result of your business incompatibility with the chosen strategy.

Hence, it is important to have several options to choose from. Since we know this all too well, we have compiled a list of proven sales funnel strategies that are guaranteed to work. You can assess these options and determine which ones will be suitable for your business. 

1. Upselling

If you are asking “what is an upsell?”, then allow us to answer that question. This approach is great for boosting your sales funnel average order. 

Upselling involves offering an additional service or product to the original sale which the customer can get both products at either the same price or somewhat price.

In most cases, this additional sale is added in the middle of the sales funnel. It is also an exclusive offer and always has a time limit. With the time limit, customers will be more eager to purchase since they know that they can lose out on the deal. 

The efficiency of this tactic is dependent on two major factors which are:

I. Customers are already in a buying mindset. 

As a result, they are open to making a further purchase if the deal is suitable for them.

II. The customers have already entered their payment and shipping details.

Hence, they will not be worried about starting the process again. 

As we said, this tactic is great for boosting your average order value. However, you must ensure that the product or service which you are using as the upsell complements the original sales.

Sales Funnel Strategies

2. Downselling 

Downselling comes after upselling. A downsell is a popup offer that comes up after a customer refuses to purchase your upsell. The downsell is usually at a lesser price than the upsell and it could either be the initial upsell product or another product that is similar to the upsell. 

A downsell is a great way to make an upsell more appealing after it has been rejected initially. 

3. Order Bumps

An order bump is simply a product or service that a customer can include in their order when they are about to send the order with just one click. Order bumps are usually found on the page for “Confirm Your Order”.

You have the option of having either a single order bump or several order bumps. However, ensure that the products are relevant or complementary to the buyer’s main purchase. For example, if they are buying pants, offering them a matching belt is a great order bump. In such a case, most customers will be willing to place such additional orders. 

If you are looking for a strategy to get the best out of your already existing customers, then order bumps are the best way to go.

4. Lead Magnets

Lead generation requires a great strategy, and what better strategy is there than a lead magnet. What are lead magnets you might ask? We have the answer…

A lead magnet is a gift or free offer that you give to potential customers to get their contact information such as email address, phone number, etc. in return. Most folks focus on just emails to avoid looking desperate and scaring away such leads. 

Most individuals will not hand over their email address simply because you asked nicely. Therefore, for this approach to work, the lead magnet you are offering must be something your target market considers appealing. 

A lead magnet is usually aimed at a particular target audience as this is the only way to attract great leads. If you make your lead magnet so generalized, the lead you will get may not end up as sales because your main product might not be appealing to such folks. 

A lead magnet is a way to get potential customers to eventually buy your main product. Therefore, if the individuals you attract through your lead magnet are not interested in your product, then the entire process has not fulfilled its purpose. Click here to learn more about lead magnets.

Some lead magnets you could offer include:

  • Free masterclass
  • Free checklist
  • Free E-book
  • Free downloadable material, etc…

Sales Funnel Strategies

5. The Soap Opera Sequence

Once you get the email of the lead, it would be not ideal to send them an email asking them to buy your product: Such an approach ends up failing most of the time. What you need to do is make use of the soap opera sequence. Allow us to explain…

This technique follows the pattern of soap operas:

  • Each new episode resolves the suspense created in the last episode
  • Another suspense is created in the new episode
  • The new episode then ends without resolving the suspense created
  • Then the whole process is repeated…

This is the pattern your email must adopt:

  • Your first email should create suspense and excitement that will make them eager to read the next email
  • Then your second email should resolve the suspense in the first email while creating a new suspense 
  • You can then repeat the process for as long as you like until you are sure that you have created trust in the hearts of your potential customers
  • It is when you have gained their trust you can then ask them to make a purchase. 

This way, you ease them into the product after several emails while building trust, authority, and even loyalty in their hearts. 

Bonus: Challenge Funnels

Challenge funnels are fun and a great way to establish a seller-buyer relationship. This strategy involves creating a challenge that you invite your customers to participate in. Whatever the challenge you choose, ensure it is relevant to your main product.

Conclusion

In the article above, we shared 5 sales funnel strategies you can make use of to boost your business’ conversion and revenue.

Sumit Bahlhttps://www.guidegeekz.com/
Sumit is a Tech and Gadget freak and loves writing about Android and Tech, his favorite past time is playing video games and binge-watching TV Series.
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