Drip Drip Drip – Do you Have a Leaky Funnel?
For an ambitious female entrepreneur with a solid funnel in place, it's pretty easy to predict what your sales will be. When you can take a look at the number of subscribers at each level of the funnel, the ratio of subscribers to purchasers is pretty consistent. Of course, depending on your engagement with your list, those numbers can go up or down. But, that's another story. But if you have a leaky funnel, you're in trouble.
If you’ve got a funnel in place, and your numbers aren’t looking great, you probably have a leak somewhere. Your funnel has a hole, dear Liza, (or two or three) where subscribers are drip, drip, dripping through. In the same way a slow drip from a faucet can add up to gallons of water lost, a leaky funnel causes the same loss in your business. Likewise, thousands of dollars per year are going down the drain. In the same way that drippy faucet is frustrating, your leaky funnel can wreak havoc with your peace of mind when you can't figure out how to make it stop.
Fortunately, there are just four common causes for funnel leaks. The great news is that once you spot them, they’re pretty easy to fix. Ready to put on your plumber's cap?
Do You Have Traffic Problem?
Incoming traffic is the very heart of your sales funnel. Without visitors to your blog or opt-in pages, you’ll have no subscribers. No (or very few) subscribers? As a result, no sales. Even more, without sales, you don't have a business. Unfortunately, this is where a lot of people struggle. How can you get more eyes on your content and more subscribers into your funnel?
Leaky Funnel Fix for Traffic:
Without a doubt, the topic of traffic generation is an entire industry of its own, but here are some tips to get you started:
It's been said, "The fortune is in the follow-through."And yet, this leaky funnel mistake is one of the most common. On the contrary, many entrepreneurs spend a lot of time and energy setting up a great squeeze page and driving traffic to it, then they deliver the goods to their subscribers and then…crickets. No follow-up emails. No offers to buy more. No related services or products. Nothing.
Leaky Funnel Fix for Follow-through:
BEFORE you invest time building the front-end of your funnel, be sure you have a back-end to promote. If you don't, those subscribers you so carefully collected will end up costing you money instead of earning it back. Create a funnel-map, top to bottom, so you can have a visual representation of the steps you will take your customers through.
Your CTA is MIA
CTA is short for Call to Action. Typically, his step is at the top of the funnel. As an example, the top of your funnel is everything you offer for free; blog posts, social media content, podcasts, YouTube videos. For that reason, they all must have some kind of call-to-action. Otherwise, it’s all just wasted energy. To sum it up, your call-to-action can be as simple as “Subscribe to my YouTube channel” or “Follow me on Facebook for more tips,” but it must be there.
Leaky Funnel Fix for Your Missing CTA:
For this reason, each time you write a blog post or an email, ask yourself, “What do I want my readers to do when they’re done reading/listening/watching this?” That becomes your call to action. Always give them a simple way to do the next step. Don't force them to look for answers. Because if you answer a question, you'll likely stir up a desire for more information. And you definitely don't want them to search Google for an answer you already have available.
Would You Like Fries with That?
What kind of products would you like your customers to purchase from you? For example, offer them a tiny little upgrade (a small ask) to a low-cost club.
Unfortunately, when you’re just starting out, this can be a problem. Undoubtedly, you know you need to build a mailing list. However, but with nothing to offer them, you may wonder, "What’s the point?". In fact, the truth is there are lots of ways to make money in your funnel even if you don’t have a product to sell.
Leaky Funnel Fix for More "Fries"
As you are looking for a good place to start, consider promoting affiliate offers. No matter what industry you’re in, there are a variety of tools and products your readers need. Find those tools, sign up for the affiliate programs, and recommend them to your readers. Not only will your readers thank you for pointing them in the right direction, but you’ll earn a little cash, too. This can be as simple as promoting products you find on Amazon. Just create an Amazon Associates account.
Don't Be Ashamed of a Leaky Funnel
Finally, if you have a leaky funnel don't be ashamed or embarrassed. With a few tweaks, you can fix those leaks. Lastly, with some attention to your follow-up sequences, chances are you can fix those holes and increase your profits in no time.
On a side note, if you are wondering what your current list is potentially worth, you can access a free email subscriber calculator at Pam Neely's site.
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