Simple Ways to Optimize Sales Funnel Profits through Testing and Tracking
Whilst the concept of a sales funnel is by no means a new tool for managing a sales process, it can also be a valuable tool for improving performance. The sales funnel can play an important part in the identification of areas requiring improvement. It can help discover which actions could potentially improve the sales and marketing processes, increase the level of “deal” or sales flow while reducing sales costs.
Ideally in a perfect world everyone’s sales funnel would be in the shape of a straight line. This would mean 100% efficiency and profit from top to bottom of the funnel. However, we live in the real world which is not ideal! Our real-world funnels have a very different shape involved. We can use this perfect funnel shape and take it as a model of what we are actually looking for.
When you begin to get your sales funnel up and running, it often requires a deal of experimentation. To be honest, this can be necessary on a continual basis as different methods to market and capture leads or prospects hit the ever-changing internet world. Once upon a time banner ads and newsletter advertising were the only way to go. Now, they are joined by new and improved options such as social media – Facebook, Twitter, Snapchat, Instagram, Pinterest, blogging, PPC (pay-per-click) and a variety of other web options.
It is so important to test and track different advertising options to evaluate not only which methods drive the most traffic to your site, but also those methods that result in the most opt-ins and conversions. For example, you may find that PPC results in a ton of clicks, yet a low opt-in rate whereas your social media marketing efforts have a lower click through rate but an much higher opt-in or conversion rate. By using this information you can tweak your advertising and marketing strategy.
Of course some front-end offers and marketing strategies are going to work much better than others. You could have a whole funnel designed and the marketing implemented and then find that your entry-level product just doesn’t sell. It could be because most of your customers are entering your funnel at a higher price point, nearer the top of your funnel. Its important not to think of this as a setback but rather an chance to improve your marketing strategy and make even more profit. remember that the key to discovering this is to regularly pay attention to your sales figures, conversion rates and even how people arrive at your site.
Many prospects will convert into customers. Use this group of people cto test back end offers. Consider testing and tracking several different offers and different levels in your sales funnel. While each back-end offer will be designed to enhance your customer’s initial purchase, you may find a particular offer sells much better than others. By testing and tracking all of this information, you can optimize your strategy and thus maximize profits.
Remember to consistently implement testing and tracking procedures for each and every marketing strategy – this is the only way to make sure you’re on track and to tweak your sales funnel for the most profits and results.