What type of sales and marketing funnel do I need for my coaching or consulting business?

Choosing the type of funnel you need for your business is a bit like choosing wine. It can be simple or you can overcomplicate it. I like simplifying things – when it comes to wine, I always start of with the question – what will I be eating? White meat, red meat or dessert? That generally helps me narrow down my selection quite a bit. Like funnels – you can narrow down your choice depending on;

  • What the end goal is.
  • How much resources you have to put into your funnel (time, money & content).
  • Do you want more qualified leads?
  • Do you want more sales?
  • What are you offering?
  • How competitive do you need to be?

It is easy to get stuck here. You are not alone if you have tried to build a funnel with no research. No doubt your funnel will have performed poorly. The secret to a strong funnel is to build it on strong foundations. The first step is to get unstuck with the initial research. Here is a clarity questionnaire I have to created to help you identify the area where you are stuck and where you need to do a little extra research.

[thrive_lead_lock id=’1546′]Hidden Content[/thrive_lead_lock]

 

Now, back to how to choose a funnel.

You can’t make a sale unless you have a qualified lead to sell to so getting leads should be a priority.

If you have no or very little leads and customers in your business, focus on a lead generating funnel to start with.

Traditionally to get leads into a business you would have to spend a lot of time cold calling, networking and spend money on advertising. You then have to spend more time to qualify and sell over the phone. This is time consuming because many calls would not end in a sale because of time wasters or people who are a bad fit for your business.

The two time intensive steps in this traditional model are;

  1. Finding the leads.
  2. Qualifying them.

If you want to save time and to make sure your only sales calls are only with qualified leads you need a lead generation funnel.

What is a lead generation funnel (or acquisition funnel)?

A lead generation funnel is a series of strategic steps that takes your traffic and turns it into a qualified lead for a specific offer.

This funnel can vary slightly depending on the lead generation strategy you wish to use. Selection of the specific strategy depends on your goals and resources. below you can read about how the main strategies can affect the funnel design.

Strategy 1: Generate leads by driving organic traffic to a lead magnet.

This is the simplest of strategies and requires little resources. If money is tight in your business, this is where you start. You need to work at hard at finding traffic to drive to your funnel, this can be time consuming.

The type of funnel you need is a simple lead generation funnel.

The components of this funnel are;

    • A lead magnet. A lead magnet is an ethical bribe, that you give to someone in exchange for the contact details to enable you to follow up with them.  It also enables you to qualify your leads. Imagine you are a health coach and you want to talk to mums who are so busy looking after their kids that they have stopped looking after themselves and now they  need help with their diet because they feel tired all the time. You could create a really specific lead magnet about this called “5 quick diet changes for the busy mum to gain more energy”. This will attract the exact person (ideal customer avatar) the coach wants to talk to.If the lead magnet was called “5 tips for healthy eating”, that would attract people who don’t fit the ideal customer avatar. This would mean a tougher time for the coach to sell to them, they would still be wasting time and resources!
    • A landing page. This is a page where you persuade people to exchange their contact details for your lead magnet.
    • Email follow up.  You need to be able to follow up with your lead using email (otherwise, what’s the point in finding the lead in the first place?).

The stages of a simple lead generation funnel look like this;

  • Stage 1: Organic Traffic
  • Stage 2: Lead Magnet Landing Page
  • Stage 3: Thank You Page
  • Stage 4: Email Follow Up

Strategy 2: Scale lead generation by using paid traffic. 

If you are driving paid traffic to your landing page you are going to be limited by the amount of money you are prepared to pay for that traffic. If you have a big budget for traffic you are going to be able to compete for that traffic more successfully that smaller businesses with smaller budgets. That’s OK for the big players.
But what if you don’t have a big budget, what if you are little guy or gal in the first few years of business?

You need a self liquidating offer funnel (or trip wire funnel)
To enable you to spend more on traffic without it costing more you need to sell something in your funnel to help cover the traffic costs. This is called a self liquidating funnel. The goal of this funnel is to acquire leads at break even cost or less. That means if this funnel works, your leads should be free – even though you are paying for traffic. Understand?
So what do you sell to make this work? Your offer needs to only help cover traffic costs, it’s not there to make a profit. You need to make an offer to the people who opt in to your lead magnet that helps solve a problem they have and they are willing to pay for the solution. The price needs to be low so it’s becomes an impulse purchase. You don’t want them to think about it. I have seen this work well for people who sell online training courses. What you sell needs to be scaleable, that is you don’t want it to take your time up directly or you will be limiting your ability to grow your business. So don’t sell your time, in any way.

The stages of a self liquidating funnel  look like this.

  • Stage 1: Paid Traffic
  • Stage 2: Lead Magnet Landing Page
  • Stage 3: Thank You Page / Self liquidating offer
  • Stage 4: Thank You Page
  • Stage 5: Email Follow Up

Now, there is a second benefit to having this type of funnel, it also acts as a mechanism to quickly turn your leads into buyers. This is because people who have already bought (no matter how small) will be easier to sell to again. Take the example of two business coaches who have almost identical group programs. One also has a self paced mindset module, she sells 10 a month. The other has nothing. They both try to sell their group program. The first coach sells to her customers who already bought her mindset program. over the 6 month she has built up a list of 60 of these customers. They loved her mindset course, they had built up a relationship with the coach so when the opportunity came to buy her course many of them jumped at the chance. She sold 20 places.
The second coach had a list of 100 leads that downloaded her lead magnet but never bought anything else. Because they never had the chance to experience the coaches work and build up a more trusting relationship they were more reluctant to purchase  the group program. Only 5 bought.

We can add one further step to this funnel. This is for businesses who wish to make a profit from their funnel using passive income products. These products are added to the funnel as an up sell, or one time offer. This is another product for sale but this has the goals of making you some profit (finally) and identifying the people in your funnel who need help right now, these people are desperate and might even sign up for your core product or service given the chance. You will be missing a valuable opportunity if you fail to identify them. If this sounds interesting for you then;

The type of funnel you need is a passive income lead generating funnel.

Not only will it generate leads but it will generate you some passive income.

The funnel looks like this;

  • Stage 1: Paid Traffic
  • Stage 2: Lead Magnet Landing Page
  • Stage 3: Thank You Page / Self liquidating offer
  • Stage 4: Thank You Page / Up sell or one time offer
  • Stage 5: Email Follow Up

Having smaller offers in your funnel takes more work to set up but the benefits are worth it in the long run;

  1. You turn leads into buyers who are more likely to buy again
  2. You make enough money to cover your advertising costs
  3. You build your know, like and trust factor with your customers
  4. You can make a passive income at the same time
  5. You automatically warm up leads for your core product or service

What does a coaching or consultants sale funnel look like?

As a coach or consultant, you probably have a high ticket coaching or consulting package. Selling this directly to people who don’t know you will get you know where fast. It takes time to build up the know, like and trust factor that enables you to sell more expensive products and services.

To make the job of selling easier for you, you want to only be talking to people who have heard about you, they like what you do and they already have some sort of trusting relationship with you. You can find these people from your lead generation funnel.  They are already pre qualified and should have a good idea about who you are and how you can help them. These are the people you want to be sending to your sales funnel for your high ticket offers. There are two main sales funnels you can use to sell your products if your product price goes from mid range price, (a few hundred pounds) to high range (a few thousand pounds).

If you want quick sales continuously you want a webinar funnel. Webinars are a really efficient way to generate sales right now because they ask for commitment and because they are specific they qualify your leads. This gives you an audience of very hot leads. By the end of the webinar you should have delivered so much value that your leads have really got to know like and trust you. If you done your job well they should be ready for your offer at the end. At the end of the webinar you can sell directly.  The beauty of this funnel is it can reduce the sales cycle so you can make sales quickly. Also webinars can be recorded and run automatically, generating a steady stream of leads and sales.

The live webinar funnel looks like this.

  • Step 1: Traffic
  • Step 2: Registration page
  • Step 3: Confirmation
  • Step 4: Live webinar / recorded webinar
  • Step 5: Email follow up

You will find there will be a limit to what you can sell on your webinar. You might find difficulty if you want to sell something more than a few thousand dollars. Or you might be selling one on one coaching where you want to vet the applications directly to make sure they are a right fit for your business.

In these cases you will want to sell over the telephone. But how do you get someone to book that call? I have seen coaches send people directly to a diary booking page and then express their disappointment because people don’t show up for the call or they are wasting their time when the do get on a call. It really doesn’t need to be that way.It’s easy to weed out the time wasters.

All you need is a sales call funnel.
You direct your traffic to a page that explains who you are, and what you are offering. Its not a full on sales page because your sales conversation will take place over the phone. You want to build the relationship and build credibility. The only goal of the page is to get people to apply to work with you.

Once the hit apply they fill out a form. The thank you page then pre sells them. On the thank you page you can tell them what happens next, show more testimonials, tell them more about you. You can do what you feel is necessary to prepare them for your sales call.  Then when you get them on the call, they will know what to expect and your sale should be easy.

The funnel looks like this;

  • Step 1: Traffic
  • Step 2: Landing page
  • Step 3: Application page
  • Step 4: Thank you (pre sell)

There was a lot of info in this blog post so I will summarise the 4 types of funnels that can benefit your coaching or consulting business.

  1. Simple lead generation funnel. Perfect for starting out.
  2. Lead generation funnel with offers. For when you want to scale your lead generation and make a bit of extra money.
  3. Webinar funnel. For when you want to sell mid priced services.
  4. Sales call funnel. For when you want to sell high end services.

 

If you would like help implementing any of these funnels contact me .

Quickly And Correctly Set Up Your Google Analytics Account - 9 Over My Shoulder Videos To Show You How

Feeling stuck and want help on creating a unique funnel for your business?

Grab my 7 Website Planning Roadmaps, Including 5 Checklists!

Not sure where to start when building your website? Use these 7 roadmaps to identify where you should start and what your plan of action should be. 

GDPR

You have Successfully Subscribed!