Customer Value Optimization Principles And Sales Funnel Strategies
What if you implemented a Customer Value Optimization system?
...a system for selling your products and services 24/7 on autopilot that could be optimized to convert as many visitors as possible into leads. Then as quickly as possible turn them into customers and sell them higher margin offers. Still on autopilot, send them back to the offers they didn't buy? All while helping people...
What would your business look like?
You may be thinking that a system like this is too good to be true.
The process I just described is called a sales conversion funnel. It's part of the Customer Value Optimization system used by Ryan Deiss, Neil Patel and others.
My name is Bill Cassidy, I'm a Certified Customer Value Optimization Specialist and I'm going to share the same Customer Value Optimization principles and Sales Funnel strategies that Ryan and other marketing authorities use for every business they build or help.
What Is Customer Value Optimization?
According to Ryan, Customer Value Optimization is the process of building an unstoppable business.
The steps not only include the sales funnel, but also determining product/market fit as well as choosing the traffic source for optimal results.
Legendary direct response marketer Jay Abraham said that there are only 3 ways to grow a business:
- Increase the number of customers
- Increase the average transaction value per customer
- Increase the number of transactions per customer
Customer Value Optimization is designed to address, specifically, theses three goals.
The goal is to lower acquisition costs while simultaneously increasing immediate and lifetime customer values.
What Is A Sales Funnel?
A sales funnel is a marketing system. It's the "ideal" process you intend your customers to experience as they go from prospect to lead to customer to repeat buyer.
Online, it's an income producing asset that works on autopilot converting your visitors into leads, customers and repeat buyers as optimally as possible.
How Does Customer Value Optimization and Sales Funnels Work?
After creating your offer and choosing your traffic source, you'll send the traffic to your sales funnel.
Lead Magnets and Trip Wires are the first steps in your sales funnel. They are designed to turn as many visitors as possible into leads. Then, turn them into customers as quickly as possible. This will effectively increase the number of customers.
Core Offers and Profit Maximizers, offered on the backend as up sells, down sells and cross sells, are designed to increase the average transaction value per customer.
And, to increase the frequency and recency of customer purchases a return path is implemented.
The return path is accomplished with an automated email sequence appropriately delivered to get buyers to purchase the next product in the funnel (ascend); where they left off.
It's also used to indoctrinate, segment and re-engage your subscribers.
Who Does Customer Value Optimization and Sales Funnels Work For?
You may be thinking that your business is different or unique and Customer Value Optimization and sales funnels won't work for you. But any business can leverage them to help accomplish their lead generation and sales goals.
- Coaches and consultants
- Information Product creators
- E-commerce store owners
- "Real", brick and mortar Businesses owners
- All Types
I will say that not all funnels look exactly the same, but the most successful ones all follow the Customer Value Optimization principles I outlined above.
Let me reiterate the steps because it so important.
Use Lead Magnets to convert visitors at the highest rate possible. Next, use Trip Wires to turn leads into customers as quickly as possible. Then, offer your Core Offer and Profit Maximizers to increase the average customer transactions. Finally, implement a Return Path to increase buyer frequency and recency.
By the way, offline businesses often benefit from selling their Core Offers and Profit Maximizers once their traffic has progressed from online into their office or store.
Who Uses Sales Funnels?
Big online businesses like Amazon and Dell have been using sales funnels for years and have been a big part of their success.
Offline businesses like McDonald's and Radioshack were known for using, and developing, effective funnel principles; although Radioshack is no longer around and McDonald's is now struggling.
Many businesses have implemented online sales funnels without understanding the principles; with mixed results. The more you follow the principles, the better results you will achieve.
Currently, Digital Marketing Gurus and course creators are the big users who actually leverage all the principles of Customer Value Optimization.
Recently though, smaller product merchants and higher margin, local and offline entrepreneurs and professionals have started to recognize the power of an optimized sales funnel for increasing gross profits, saving time and elevating themselves above their competition.
Who Should Take Advantage of Customer Value Optimization and Sales Funnels?
Every business should use Customer Value Optimization principles and sales funnels strategies.
It's one of the best investments you can make in your business. And, it's the fastest and most effective way to increase your leads and sales.
The problem is that so few people actually know and understand how to properly build sales funnels. Many spend years trying to figure it out.
There are even few people sharing or selling the "how to" information that you need.
Additionally, even if you know how to properly structure your funnel, building one with the tech issues and outsourcing with the people issues are nightmares that most business owners just don't have the time to deal with.
Did I mention traffic, tracking, testing and data analysis?
If you find someone who knows how to properly structure the offer, knows how to build a sales funnel and what should be outsourced, they usually will have to charge you a small fortune or a large percentage of the profits because it's not worth their time to not be working own their own funnels.
Is There Anyone Who Shouldn't Use Sales Funnels?
No! I've seen offline retail, restaurants, hospitals, gas stations, funeral homes, real estate, etc. build effective funnels.
I can't think of any business that wouldn't benefit from using online funnels.
Those with a small budget and without a higher margin offer may not benefit from an optimized sales funnel. They would surely benefit from an optin funnel or implementing basic CVO funnel principles, discussed above, into their offline sales structure.
Are There Different Types of Sales Funnels?
Yes. Although the principles do not change, the structure of the funnel may.
If you are offline and want to increase leads, you'll focus more on lead magnets and the email broadcasts and followup sequences. Then get them into your office or store where you can offer your Core Product and Profit Maximizers.
If you have a product launch or webinar, there are other sales funnels that do quite well.
Before you build a sales funnel, you need to establish your goals and then plan the structure accordingly.
The structure may change, but not the principles.
What Are the Costs Associated with Building a Sales Funnel?
Fixed Sales Funnel Costs?
Let me start with the essential, fixed costs for building a sales funnel.
You'll definitely need web hosting, autoresponder, page builder, CRM software, payment processor and tracking software.
There are a few other pieces of software that can help you with Conversion Rate Optimization (CRO) that some would consider essential. But, you can add them once your funnel is built and/or profitable.
The prices of those items, depending on what you choose, also vary greatly.
However, a couple of companies provide integrated sales funnel solutions.
ClickFunnels provides hosting, autoresponder, Page Builder and CRM software. It's relatively easy to use and works with common payment processors. Expect to pay about $300/month. You can get like half off through this link.
It is probably the best choice for most business owners looking to profit from a sales funnel.
Most of the other choices are more expensive, time consuming to learn and not as effective.
There is one lower cost alternative but it takes a bit more to setup and is not as full featured as ClickFunnels.
It's an offer from a web hosting company called Insty.me.
They offer great hosting (I've used them for almost three years without issue), an autoresponder service, Page Builder and a few other marketing tools and resources. It doesn't offer CRM, integrated payment processing or tracking but you can add Google Analytics and still use a reputable payment processor.
Once your funnel is profitable, upgrade to ClickFunnels.
Insty.me currently has a Free Trial Offer with the Page Builder included, for just $1.
As for the non-essential, nice to have fixed costs, I'll choose not to discuss so as not to confuse you. Other than to say, most are very expensive; but worth the money when you want to squeak out every bit of income possible.
Variable Sales Funnel Costs?
The variable, essential cost also vary greatly. Most of these costs are for labor or outsourcing.
Sometimes the greatest cost is the time spent managing the outsourcers.
Plus, as I previously mentioned, everyday you don't have a sales funnel working for you is a day your competitors are grabbing your money off the table.
To get an idea of what you are looking at, let me list a few of the things that need addressing.
Research, funnel blueprint, creation including graphics, design, tracking, copy, email sequences written and everything linked together; management and optimization including analysis and CRO; traffic including creating ad copy and graphics, testing and management all need attention.
All that work is extremely time consuming. That fact, however, doesn't help your determine the costs.
You can see why it's not cheap. And, anything that generates income for people gets a premium price.
Done For You...
Several years ago, you probably couldn't get a funnel built for under $50,000.00. Today, most of my peers charge between $10,000.00 and $25,000.00.
You probably won't need to pay that, but there is one cost I haven't talked about yet. That's a copywriter.
A professional copywriter could charge 20K and up, the best way more. And some will only do it for part of the profits.
If you understand that you need a sales funnel but don't want to pay anything close to that, schedule a Sales Funnel Consultation with me and I'll show you can have your very own 24/7, autopilot selling machine.
What's the Best Way to Get a Sales Funnel Built?
How to Build a Sales Funnels on a Small Budget...
If you are a business with a small budget or a small average customer transaction value, your best bet is to learn and implement the principles of a Customer Value Optimization and implement yourself with your web designer.
Join my Bottom Line Daily Newsletter to receive Customer Value Optimization and Sales Funnel tips as well as other tips to improve your bottom line.
Do It Yourself...
If you want to do it yourself, may I suggest getting started with a smaller funnel.
Create a Lead Magnet, collect email addresses in exchange, then make an offer before (or at the same time) delivering your promised Lead Magnet. If they didn't take your offer, offer it again on the delivery page. Then send emails to your list offering other products, information and specials. Or, sell them when you get them into your office or store.
Sending targeted traffic from Facebook works for most businesses. Remember to provide value as much as possible!
You'll need to write the copy, Lead Magnet and emails, but your web guy could probably set this up for you or buy a software solution like ClickFunnels. They currently have a 14 day trial or watch their training and get a free funnel. You'll also have to create and manage your ad campaigns on Facebook.
Do It Yourself Problems...
The biggest issue with doing it this way is time. There is a learning curve and, if you get stuck somewhere it'll never get done.
Everyday you do not have a sales funnel in place is money being left on the table for your competitors to grab.
How to Build a Sales Funnels Quickly...
If you have a larger budget or have a high customer transaction value, then it is essential that you get your funnel built properly as soon as possible.
This is how I can help you...
I help business owners quickly plan, build, optimize and manage Sales Funnels and leverage Customer value Optimization principles.
Every business is different and so are their goals. I can help you determine what is best for you.
Schedule a FREE, No Obligation, Sales Funnel Consultation Call.
Maybe an Optin Funnel, maybe a complete sales funnel with multiple email followup sequences, maybe your best option is to do it yourself; whatever your best option is, I'll let you know.
Regardless, if you can afford it, hire someone to build and manage it for you.
If you'd like, I can put a proposal together for you. Simply fill out the form below.
You should expect a larger upfront cost during build and a reduced cost for managing. Managing should include managing traffic and split testing.
Your breakeven point per visitor may occur after Core Offer sale, but often after the Trip Wire sale. ROI should grow as your funnel gets tested and optimized.
Selling your products and services using Customer Value Optimization and a well planned and optimized sales funnel, as opposed to a flat brochure style website is one of the best investments you can make to upgrade your business.
To help you get started, I'm offering a FREE Sales Funnel Consultation call. There is no obligation or risk.
Simply fill out the form below or schedule your consultation now.
Implementing Customer Value Optimization principles and sales funnel strategies are critical for business success today so fill out the form below and get started while it's fresh in your mind..
Customer Value Optimization And Sales Funnel Solutions...
How long can you afford to ignore the power of Customer Value Optimization and Sales Funnels?
Are you still trying to sell your products and services from your website. It's not the most effective way and typically a big waste of your time, energy and money.
It's the 21st century now and the way to optimize your sales is with Customer Value Optimization and Sales Funnels. You'll get absolutely the best ROI with them!
Simply, buy traffic from Facebook or other platform, send them to your automated CVO sales funnel where you capture their email address and money.
Offline, online, large and small businesses are using sales funnels to line their pockets 24/7 while destroying their competition.
Discover how you can dramatically increase your leads, customers, margins, income and profits when you enter your information into the form on the right.