The online business sales funnel includes every step from someone visiting a website to join an email list, to making a purchase and repeating a purchase. Although huge efforts are likely to go into designing, producing, and securing customers, most companies can do more to improve conversion funnels, which greatly impacts their profitability.
John Ainsworth is the founder of Data Driven Marketing, an agency that works with online course creators, which “really has web traffic and great products, but not enough sales.” Over twenty years of building sales funnels, Ainsworth has analyzed hundreds of millions of dollars in online businesses, passing on the learning to its customers. Many of Ainsworth’s five- and six-figure clients hit seven figures in annual revenue after implementing his guidelines.
Make improvements to each component of the sales funnel. I interviewed Ainsworth to find out the seven most powerful tactics online business owners can use.
1. Add “Demand Pitfalls”
Ainsworth explained, “This is the easiest way to increase total revenue, and other industries do it all the time.” Order pitfalls are additional products displayed on the checkout page, via a checkbox. These are the products that accompany what the customer buys. “At McDonald’s, if you order a Big Mac they will ask ‘Do you want fries with that? “If you add something to your cart on Amazon, they will suggest other products that you may want to buy.” Amazon reports that 35% of its revenue comes from cross-selling and over-selling.
For an online course, the application can be a PDF workbook. On the checkout or order page, add a few sentences explaining the product and price. Ainsworth explained that “40% to 60% of people who buy an online course will buy an advanced to order product, and for e-commerce stores that’s 5% to 15% of customers.”
Look at your most popular product, choose a less expensive product to match, and set up your own order bump.
2. Create elevations
With online business paths, sales are introduced after Withdraw the client. After you buy an airline ticket, the insurance value for holidays, car rentals and luxury hotel will increase. They are often offered in the follow-up email or on the purchase confirmation page.
They tend to be the same or slightly more expensive than the original product. “About 10-20% of people will buy these additional offers,” Ainsworth said. “If you sell a basic language course, an intermediate course might be best. For a monthly subscription, the increase could be a quarterly or annual subscription. For a bottle of supplements, the sale could be 3 bottles.”
Look at your most popular product, choose the one that would make sense for the customer to buy next and put it up for sale on the confirmation page. Offering a one-time discount on a sale product is a compelling reason for a customer to buy it there and then.
3. Improve your presentation
Would you like to purchase this proven and highly acclaimed bestselling product with money back guarantee and super easy returns? It’s a compelling proposition, so why not? Ainsworth explained, “Improving your offering does not mean lowering your prices or improving your product, but rather offering better rewards and improved warranties.”
When a customer buys from you, they take a risk. They risk losing money and not feeling happy. Ainsworth wants You are to risk. “If the risk is on the customer, fewer people are buying. If the risk is on you, it will be more.” Can you come up with anything that reduces the risk of dissatisfaction further? This is called coins and it consists of those extras that add crazy value to the customer but don’t cost you anything. Free working papers, promotional tweet, website backlink. Perhaps a quick delivery or an invitation to an exclusive seminar or group.
Find out if you can offer a satisfaction promise or a money-back guarantee to avoid risking your future customer’s decision.
4. Sell to your email list
Most revenue in online business comes from email, not directly from website traffic or social media. Ainsworth explained that “some of our customers earn hundreds of thousands of dollars a month from the emails they send,” but that “internet business owners want to be careful “not to bombard their subscribers with so many sales promotions that they cancel their subscription in a nuisance.”
In order not to bore or annoy your subscribers, Ainsworth explained that you should “use a mix of compelling content, added value, and promotion in every email.” Make it make your email subscribers love your emails, and even look forward to receiving them. This will “reduce your opt-out rate and make you generate sales every month”.
Ensure that those willing to buy have the opportunity to do so by selling within our email newsletters.
5. Grow your email list
Now you are making more money from your emails, the next step is to expand your list. Ainsworth explained, “Your email list is your most valuable marketing asset, but the average website signup rate is less than 1%.” Ainsworth thinks it’s possible for nearly every site to reach 2-5%, “which means massive growth over time.”
Calculate your subscription rate by taking the number of new subscribers you secure per month, dividing that by your website traffic and multiplying the number by 100. Less than 2% means you’re leaving revenue on the table.
Grow your email list by creating a highly desirable lead magnet, a free resource that gets sent out to new subscribers, giving someone a real reason to subscribe. Use a lead magnet with a high perceived value and attach it to a lead magnet at various places on your site.
6. Optimize your sales pages
Bad sales pages are common. Blurred images, confusing descriptions, and a lack of a clear journey around a website often lead to more objections than they answer. Ainsworth has a list of components for a great sales page, which should “catch attention, explain the benefits of your product, answer potential customers’ questions and allay their concerns.” Your visitors will probably be interested in the purchase, but when they become nervous, uncomfortable, and afraid that it won’t work for them, they simply click away.
“There are fifteen important elements of a sales page to include. Among the most important are testimonials (which provide invaluable social proof), warranties and FAQs.” In Ainsworth’s experience, “Nearly every sales page is missing some of these elements and misperforming others.”
Look at your sales page with fresh eyes and make improvements, or ask members of your target audience for their opinions.
7. Optimize your checkout pages
So you’ve optimized your sales page and added warranties, sales and requisitions to your shopping carts. there is more. Ainsworth explained that “many people fall at the last hurdle because of a bad checkout page.” “Someone is on the checkout page because they want to buy, but while putting in their credit card details it is completely uncertain. It is necessary to reassure them here.”
Critical items to add to the checkout page include your “warranty, certificates, and reminders of what’s included in the product, along with benefits and trust badges.” All this means that your customer feels more comfortable spending their money with you.
What does your checkout page look like? Make sure it inspires confidence in multiple places.
There are several ways to grow a business online, and not all of these methods involve creating more products or writing more content to increase traffic. Add demand pitfalls, create sales, and optimize your offer to generate more revenue for each transaction. Optimize your website pages, grow and sell to your email list to convert more traffic into sales.