When I first started experimenting with online marketing over a decade ago, there was a lot less competition. It was pretty easy, just take your service or product, spend a dollar on advertising and make two dollars back in return. But as the competition grew so did my costs. My return became less and less, and it became harder to sell my services.
I didn’t realize it then like I do now, but to get ahead of the competition I had to find a way to stand out. I had to increase my value. One way I increased my value was to secure an agreement with Zig Ziglar, who had used my services from a previous company I co-owned. He was very pleased with our service and even provided us with a written testimonial. I contacted Zig, and he graciously put me in touch with the president of his corporation. Within a few days, I had an agreement! Zig would initially provide me with 200 signed copies of his new autobiography, and I could use Zig’s testimonial and photograph on a billboard endorsing my company along one of the busiest highways in downtown Dallas.
Now my value had increased. I was offering a signed copy of Zig’s latest book for every complimentary consultation for my services. I left my competitors in the dust.
This experience taught me the importance of building a deep sales funnel. A sales funnel is an online process, I call it a breadcrumb trail, that you take a prospective customer through to get them to move up your value chain.
The deeper the funnel, and the more value you can offer, the better the results for sales qualified leads, developing and growing trust, building a relationship, and forging more profitable sales of products or services.
Where do you start?
You begin first by offering the bait (e.g. a signed Zig Ziglar book) that will open the door for you to begin building trust. Then it’s time to get creative.
How deep is your love?
Now you must deepen your sales funnel by providing tons of value that will lead the customer to where you want to take them. The sales funnel is where most businesses fall flat. This process is important and requires thought, creativity, and doing things that you likely have not done before. If you fail to implement a solid sales funnel, you will find yourself resigned to doing business as usual — the recipe for being commoditized.
Okay, for those of you who are baby boomers, I know what you’re thinking, you’re humming it too. Go ahead you can listen to it here.