Funnels & Offer Fundamentals Flashcards
What is a funnel?
It is a customer journey and it describes the steps a customer has to go through to convert.
A conversion means that a user made the action you want them to do, this usually means a purchase, booking a call, etc.
A funnel is meant to lose people on each step of it, but it is also meant to increase conversion rates. The further down the funnel a customer goes, the more qualified and interested they are.
Each step requires different levels of commitment and you are asking for more commitment with every step: indoctrinating the prospect and leading them further down the funnel, closer to the action you want them to take. DON’T ASK FOR ALL THE COMMITMENT RIGHT AWAY!!
Offers are closely linked with funnels and your funnel should be designed based on your offer and not the other way around.
What is an offer?
An offer is a way you provide value to the customer. Since it has value to the customer, it means they will be willing to give something in exchange for it.
Offers provide value to people and they are different for every individual.
Value exchange = you give people something they want and they give you something you want.
You are asking for money in exchange for a product.
Money has value, the product has value so you make the exchange.
If you ask for somebody’s email, that is a form of value; for someone’s time for a call.
Commitment: how much does the prospect have to commit to acquiring the offer, some offers only need so much convincing and are low commitment on the customer’s end.
A $5000 dollar-a-month SMMA service needs a little more convincing and a better funnel.
What are On-Facebook lead gen ads?
They are a short one-step funnel used to gather information about a prospect. These are the most effective type of ads. Many offers apply to this kind of funnel and the commitment level isn’t high. Although that depends on the information you are asking for, it is usually name and email or name and phone number.
What are free guide funnels?
Conversion rates can be even better when you put complex funnels like a free guide funnel in place. You are exchanging a free guide your customer will find valuable in exchange for emails or phone numbers. E.g., a gym will give a free guide on how to lose weight in order to collect new leads.
What is a Messenger funnel?
Adding, to your offer, the option of sending a message will make it easier for the conversion.
You can prompt people to send you a message on Messenger and then follow up with them about the offer and how they can claim or use it. However, your client needs to have a solid sales process and follow up with the leads on time.
What is a Whatsapp funnel?
Similar to Messenger ads you can send people to WhatsApp. The one that does better will depend on the country or market.
What are walk-in coupons?
You can create coupon offers that people can redeem at the place. Although less popular, it works in many ways. Your offer needs to be strong enough to not need any nurturing of the lead or human contact.
What are free valuations?
Your customer can get a free valuation of what your client will help sell. E.g., real estate, cars, jewelry, etc.
What are instant valuations?
By using quizzes, you can have different flows that give different valuations, then you collect the data and ask for emails/phone numbers to help the person sell.
How important is the offer?
No matter how good your marketing is, your offer won’t sell.
How to come up with offers and read the market?
You should know your niche better than your client because you have experience with multiple businesses in that niche but your client only has experience with theirs.
For product and info-prod businesses, this is left to the client. Although you can help them fine-tune their offer, this is their job.
The real test of an offer comes when it is faced with cold traffic.
