Well, that all depends on how busy you’ve already been putting together the pieces of your course marketing plan. If you’re just getting started there’s is work to be done! However, if you have already started on putting pieces together such as building out a blog, creating a Facebook topic group, educating yourself on Facebook ads, and generally building a contact list and social following, then it’s just a matter of systematizing and optimizing your online course sales funnel.
On a macro-level, a sales funnel will start with a large number of potential buyers at the top Based on certain criteria, this pool of potential buyers is reduced to a fewer number of prospects. Towards the middle of the customer journey, the number of prospects reduces to a handful of opportunities, and after the decision-making stage, the sales process ends with a closed-won or closed-lost deal.
Unfortunately, the reason why we call it a marketing funnel instead of a marketing journey or marketing waterfall is that not everyone who enters your funnel will end up buying. At each stage in the buying process, you lose some potential customers, but a good marketing funnel will keep those losses to a minimum and produce the maximum number of sales from your marketing.
As “State of Sales” finds, salespeople believe a combination of human skills and data-driven insights is needed to convert prospects into customers. In fact, the ability to listen is seen by 78% of those surveyed as an important attribute needed for landing deals. But sales reps also have to demonstrate industry knowledge (74%), trustworthiness (74%), and knowledge of prospects’ business needs (73%).
This model lets your customers show the value that they have experienced to your prospects. Rather than having your sales team explain your product/service, it provides a credible third party with actual user experience to explain the value. A flywheel allows you to reduce SG&A costs, focus on the customer experience, and find better good fit customers.
Close rate – Your close rate (or “win rate”) refers to the number of these opportunities that turn into eventual sales. If your close rate is lower than you expect, look at some of the other metrics you’re tracking for ideas on improving the success rate of your marketing funnel. You may be sending sales unqualified leads because your content is for a far more technically savvy audience while your ideal customer is a novice.
The next step is to present potential customers with the opportunity to buy a product or procure your service. "When constructing your main front-end products and associated upsell offers, you should be engineering them with the additional mindset of . . . how will this help create more desire for the next [backend] offer [you're] going to present them with," explains Todd Brown of MarketingFunnelAutomation.com.
Advocacy metrics: Track your advocacy efforts by measuring the percentage of customers who come through your referral program. Also gauge sentiment by what customers are saying on social media. Small businesses that don’t have the time or resources to devote to social media can use software tools, such as Hootsuite, to streamline the monitoring and management of various social media outlets.
In this article, we’ll summarize 10 steps, more or less in order of execution, that you can take to create a sales funnel to drive students to enroll in your course. We’re not going to go into great detail about each one of these steps – we’ll leave it to you to Google the hundreds of resources out there on each of these when you decide you want to execute. But we provide a general overview to guide your thinking about how to execute an online course sales funnel.
Social proof is the psychological idea that people determine what’s correct by finding out what other people think is correct. Customer reviews are 12x more trusted than descriptions that come from manufacturers. Social media is a powerful tool for creating social proof. Let the stories and experiences of your happy customers create converting content for you.
If these three letters send shivers to your spine, you’re not alone. SEO is a huge topic. You need to know a minimum amount about SEO to make sure your content development efforts are not wasted. There’s just no point in writing a hundred blog posts if your website and blog are not optimized for Google (and Yahoo, Bing, etc.) search traffic that you want to drive into the top of your funnel.
OK, so really there are 11 steps to creating your sales funnel, but 10 just sounded more “precise”! Lastly, your email system should tell you how successful your emails are. Use this information to tweak and improve them over time. You should also track your blog posts, Twitter followers and Twitter activity, Facebook ad success, etc. Hubspot is a great tool for this kind of thing.
The entrance to the CVS funnel combines a massive physical footprint with a growing digital presence. CVS has about 10,000 retail stores. Eighty percent of Americans live within 10 miles of a CVS store. With the expansion of CVS’s HealthHUBs to 1,500 locations, one analysis suggests that 75 percent of Americans would live within 10 miles of a HealthHUB. In addition, CVS/Aetna has access to about 18 million Aetna medical insurance members in all 50 states. On the digital front, CVS has 62 million loyalty program members whose purchasing patterns can be tracked and who can be the target of tailored promotions.
According to one recent study published by Pardot, 70% of buyers turn to Google at least 2-3 times during their search to find out more about their requirements, potential solutions, companies offering those solutions, etc. Many people also turn to public forums and social media platforms for recommendations. At this point, they aren’t looking for promotional content; they’re only looking to learn more about potential solutions.
The best part of the traditional sales funnel was that salespeople could move prospects through at their own pace based on their needs to close a deal. Today, customers are in control of the sales process. A modern buyer spends more time upfront researching a purchase before they engage with a salesperson, reducing the value of sharing information.