The 3 Types of Funnels to Build Revenue
Subscribe Now: Apple Podcast | SpotiFy
If you’ve ever wondered how to consistently nurture your audience, automate your revenue streams, and create a repeatable sales system, this is for you.
This week on The Magnetic Woman podcast, I break down three essential types of funnels that every business should be using.
Funnels might sound like a buzzword, but I promise, by the end of this episode, you’ll see how simple and impactful they can be for growing your business.
Here's what you will takeaway:
The true purpose of a funnel and why it’s essential for every business owner.
How to build an automated sales system that works for you, even when you’re offline.
Why testing your funnels live first is crucial before automating them.
Strategies for audience growth, passive income, and high-ticket funnels that you can implement today.
Resources:
Follow me on Instagram @PandoraPaloma_
Sign up to The Effortless Sales Formula FREE training HERE
Sign up for the Six Figure Sales Strategy HERE
Join Be Reel HERE
Transcript
Hello. Hello, and welcome to the Magnetic Women podcast, where today I am going to be diving deep into the three types of funnels and how to weave them into your business.
So first of all, what is a funnel?
A funnel is a journey that your client goes on from the moment that they enter your world, whether that is through Instagram or coming onto your email database. The moment they step in to the moment that they invest in you and your offering, and ultimately how you nurture that beautiful human being is how quickly they will invest in you over anyone else.
Now, that funnel can be part of a live activation, or it can be something that is completely automated, but ultimately it's the process or journey for your client.
And what does it do?
Well, in building out automated funnels in your business, it creates certainty. because you know that your business is working for you even when you're offline and living your best life.
It also gives you a target, which means that you're nurturing your audience into purchasing from you. When we're building out any form of automation, we're gathering data. So it means that it creates more reliability.
We're not just plucking reasons out of thin air why things aren't working, because you actually know what's working based on the data that your funnel is telling you.
So, when it comes to the creating certainty piece, what's really important to know is that even elements such as your welcome email sequence is what I would consider a micro-funnel.
It's an opportunity off-the-bat for you to nurture that person into your world.
A reason why I say that's so important is, I don't know about you, but how many times have you signed up to something and then you haven't heard from that person for a month and you can't even remember why you signed up to that newsletter or who they are? So you just unsubscribe.
And that is an example of how you can lose people.
Whereas if you had an automated email series that takes that person on a journey of who you are and how you can work with them, and a couple of valuable freebies, suddenly you are warming them up really quickly so that you can ultimately nurture them to purchase from you to help solve their problem.
So how to start with things like this?
Well, I would consider thinking about a funnel that brings in an extra revenue stream. Ideally you want to create a funnel that gives you your base level income.
Let's say that's 5K per month. So, you would build out a 5K funnel to allow you to make that revenue effortlessly. And then everything else that you get to do, through your live launching and your additional sales strategies for that month or quarter, gets to be your cash injection whim.
Lots of people try to do really quick win tasks. So, this month they're going to do this to make lots of money. But actually, what I invite you into is doing the thing and taking the action that's going to give you the potential to make money in that instance, yes, but also is building out a repeatable sales system that means that you can build your revenue day in, day out long term.
I thought today I would share with you the three types of funnels that you can start to use and how to implement them into your business.
The first funnel is an audience growth funnel.
These are funnels built specifically to increase your audience size and nurture the individual's experience of your work.
So typically this will come through list building, which starts with a form or a freebie.
So, whether that is a lead magnet or the consistency of an email series, you are nurturing that person with something that is valuable and shows them that you can help solve the current problem that they have. We wouldn't consider using webinars or trainings here. It's normally a lead magnet that solves a problem, if you're using ads, which many people will do for list building.
Your goal here is to increase numbers on your email database and then you would nurture them through the sales process through your emails.
So it's not a direct, ‘here's an ad, buy from me’, it's ‘here's an ad, here's a valuable piece of content (via your lead magnet), which means that that person goes into your email database, and then from there you would have some form of a next step’.
Things that I encourage clients to do is anything that's personal reach out. You could have an email series, you could even consider a welcome email series part of how you nurture that person.
This is also where a lot of people can trip up.
They send people to the freebie, but don't have that second part - the sales part of the funnel - mapped out.
So, they lose out by maximising the sales and bringing hearts into their world, or they can go the other way and go straight into the sales focus too soon.
Especially if you're using ads, remember this is a completely cold audience. So, the likelihood of someone coming in and buying from you straight away absolutely can happen. But there tends to be a little bit more nurturing that is required.
If you want to start implementing an audience growth funnel into your business, think about what amazing, incredible, valuable freebies you currently have and how can you draw one owned or rented platform into another owned or rented platform.
Now, ideally you would be looking at one of your rented platforms such as Instagram, where you might have a higher number of people and nurturing those people into your owned marketing platform, which is your email database, through that lead magnet.
So it's a really, really good place to start.
The next funnel that you can start to implement is a passive income sales funnel.
These have little or no live element to them. They're built specifically to drive people to purchase an existing self-led offer or a course.
And really, at this point, it's anything that's low ticket, so anything under £500.
Now, what I will say about passive income sales funnels, so the pre-recorded webinar funnels that you have likely seen many, many times is that they aren't working in the way that they used to.
They can still work, but there are some elements that you can weave in to make them feel more personal, and to nurture your audience more so that you increase the opportunity to convert them into a sale.
I'm not going to share those things now because not knowing your business, I feel like I would be doing a disservice. But there are options.
However, a passive income sales funnel is typically a driver to a landing page. Whether that's through your emails, your social or your ad, they land on the landing page, they sign up to the webinar training and then at the end of that training, you sell in your paid offer - the course itself and pretty simple, right?
Well, yes and no.
There are trainings that convert and there are trainings that don't. And also, based on the flow of the training and various elements of the funnel before and after, you can get it right and you can get it wrong.
This is why I always encourage my clients to do anything that they want to put into an automation - to do it live first.
Because that way you're able to gather the data if something didn't convert in the way that you wanted, or didn't convert at all, in a live aspect or a live way.
I'm telling you now, you are not going to convert a cold audience that is coming through ads.
This is where I see people trip up so many times and waste so much money and I'm holding my hands up because I have been there before and it was so disheartening.
Always do it live.
Always look at the data.
Always make sure that you have the evidence that you can convert people into that space.
And then you can go for it when it comes to evergreen, a passive income sales funnel, but make make sure that you do it live first.
The way that you could weave this in is if you haven't done this before, you could test it out in a live way.
Test out a webinar or a training or an email series or a challenge - whatever it is that you want to do - trial it live first and then build it into a passive funnel.
If you have already done something live that you know has worked and converts people into your course or offer or anything under £500, well, simply gather the data, look at your best performing emails, remind yourself of the bonuses and incentives that worked well and then build it out into a passive funnel.
That way you can, you've already got the data, so you know that we've got evidence here that it's worked, and then simply set it up and give yourself perhaps two weeks to test again, and hey presto, there you have your passive income sales funnel.
I should probably say here that there are more than really just these three types of funnels. There are many ways that you can build out various components into a funnel, but these are what I would consider the three top basic versions. And then of course, you can weave extra things in, take things out depending on who you are, your values, price points, all of the things.
The next one that you could use, one that we know of, is the intimate application focused funnel.
These are funnels that are built for a very specific person who desires a very specific thing, and oftentimes for an audience that is already warm, i.e. they know you, they like you, and they trust you.
This type of funnel works for a higher ticket, more intimate space, such as a 1:1 or a mastermind, something where there's a lot of touch points. And by that I mean lots of access to you.
So again, various ways to build this in, but what we're seeing really well at the moment is creating a VSL (video sales letter) which leads to an application form, or perhaps a DM strategy.
People already in your community, or already in your email database, and again calling them forth.
‘I'm looking for X number of people who want to achieve X result in the next X timeline’.
Let yourself be known and then sharing with them the landing page that includes that VSL which takes them through how you can support them to do the thing that you have promised that you can do.
The call to action here would either be to an application form or to book a call. So it's very specific.
It's the type of funnel that you would only really build out to people who you know are already in your world for various reasons.
But it is an opportunity to get away, let's say, from sales pages so much - which can feel quite static - and into what feels like a more personal approach to nurturing sales within your business.
So how would you start to use this?
You could either very simply create a VSL that sits on your existing sales page, or like I shared, you could create your own separate VSL which sits on a landing page and guides people to that Call to Action.
And then, as I shared, you're calling for the people that you know you want to work with.
I would say that to support this even further, you would want to be thinking about how you are growing your audience and nurturing them in that process.
Because growing your audience right now is important.
And you will see longer term, more repeatable sales in your business if you are optimising every stage of your marketing funnel.
The starting point of that is audience growth, then there is nurturing and then there is the sale. You really want to be ensuring that you are weaving in strategies and building in the systems in each area of that marketing funnel so that you can optimise the results that you see.
So, other ways that you can think about using them?
To start off with, you really want to make sure that you have got really epic offers.
Different funnels will be built based on different price points.
Different price points require different funnels.
But everything really here comes down to having one epic offer that really, really, really solves a problem and that you have brilliant feedback from, of which you can then share to build know, like and trust with your audience.
You can bring your values into how you build out your funnels so that they feel alive and in alignment with who you are and how you want to do business.
Because, for example, you could build a real sense of urgency in your funnel. Or if, like me, that's just not really how you like to do business - I'm not going to weave those things or elements into my funnel.
And then finally, look at what components you already have, look at what the data you already have, and then use that to build out what your funnel could look like.
What I see people getting edited about is, ‘I need to do all of the things’, but I guarantee you've probably got a lot of the elements that you need to build out that repeatable sales funnel already.
It's just a case of fishing it out, popping it on a Google Doc.
We keep the entire build of our funnels on a Miro board and a Google Doc and, you know, it's actually really easy once you understand the components.
I hope this has been helpful today. I know it's a word that gets thrown about a lot and it can feel confusing as to know ‘which is the right element for me?’ and ‘which is the right funnel to build?’ You know, ‘where should I be prioritising my efforts here?’
If you do want some additional support on helping you build out funnels within your business, I do have a free training coming up called The Effortless Sales Formula.
And I will be sharing with you exactly how to build a funnel that generates revenue for your business potentially every single day on repeat.
It's a repeatable sales system that you can weave into your business.
You do not need fancy tech.
You do not need a big audience.
You do not need to be doing all of the things.
I will walk you through a step by step process of building a system that works. And you can find the link to join that masterclass, The Effortless Sales Formula, in the shownotes.
As always, if you have any questions, please do come and find me over on Instagram @PandoraPaloma_. I would love to answer anything that you want to share with me about funnels or just business or anything to be honest. So please do come and find me.
I hope this has been helpful.
Sending you big love from my corner of the world to yours. And remember, you are Magnetic.
Recent Episodes
.
Recent Episodes .
IF IT’S TIME TO MEET YOUR NEXT-LEVEL IN BUSINESS, WELCOME TO MY WORLD
Whether you’re new to business, got a side hustle that you’re ready to make your full-time reality, building to your first 6 figures, or scaling to a million, I have a coaching container to hold and support you