MLMT 207: The Building Blocks Of Your MLM Funnel
MLM Trigger Episode #207
We talked about how to qualify a buyer and today let’s visualize how an effective MLM sales funnel look like.
A sales funnel is a marketing system with the ideal steps needed to sell your services or products. A prospect either goes on to the next stage of the funnel because they want to know more about your product, or they leave because they’ve lost interest.
It is called a funnel because the lead is moved through a series of marketing channels to build awareness, trust and engagement that closes the gap between being a prospect and becoming a customer.
LISTEN: ▶️ The Building Blocks Of Your MLM Funnel
Wouldn’t it be great if every one of your leads turned into a sale?
Of course… But in the real world of sales and marketing it doesn’t work that way. That’s where a sales funnel—also known as a marketing funnel—comes in handy.
Any successful entrepreneur will tell you that the completion of a sale is only a small part of the sales process. Selling is a process that begins long before any transaction takes place. Carefully identify all the ways a prospect interacts with your business and make sure they are constantly engage from awareness to purchase decision.
At every step of the way the prospect needs to feel like your business is adding VALUE to their experience while being convinced of your ability to fulfill their needs.
Creating a sales funnel allows potential customers to interact with your business in the most optimal way so you can influence their purchase decision.
Why use a sales funnel? Because a sales funnel is a visual representation of the journey your prospects go through on their way to make their purchase. If you can successfully get your prospects from one end of the funnel to the other without them dropping out along the way, you now have a new customer.
So a sales funnel is crucial for your business’s success, because it both simplifies the buyer’s journey and increases conversion rates. Every sale of a product begins with a certain number of prospective customers and ends with a smaller number that actually purchase your MLM product.
The idea is that you capture as many leads as possible and then narrow these candidates down in each stage of your funnel.
What type of prospective customers exist at each stage?
--People who become AWARE that your brand exists
--Those who decide to learn more about your products and organization
--Customers that purchase your MLM product or services
--Satisfied customers who let others know about your product through word-of-mouth Customers who buy additional products from you or join your opportunity
--Creating an effective sales funnel is like building a house—you start with a blueprint and a good foundation. Your blueprint is like goals like “Increase sales by 15% this year” or “Have 100 new leads by August 15”.
A marketing funnel with a defined goal also allows you to refine prospective customers into segmented groups as well as interact with those customers that have already made a purchase and are satisfied with your product or service. Remember, these goals aren’t stagnant, they will change as your business grows.
In our industry many times we try to turn a prospect into a sale as quickly as possible, which can turn off a potential customer. So using a sales funnel helps you turn prospects into customers through a series of small conversions.
Studies have shown that only a small percentage of 2% of sales are closed after the first interaction with prospective customers, but after 5th to 12th times of interaction, the chances of closing a deal increase to an amazing 80%.
By breaking down the buying process into manageable stages, you can effectively identify potential pitfalls and optimize your strategies. You want to focus on nurturing leads and building long-lasting customer relationships, which massively contributes that 80% statistic above.
Part of the foundation of a good marketing funnel is by choosing a funnel building software that is flexible enough for your MLM business needs.
A good CUSTOMER RELATIONSHIP MANAGEMENT — CRM application with marketing automation capabilities… The function of any good CRM is to help automate and simplify different processes in the funnel. This process is also known as marketing automation. All the pieces you need are inside the software, easily enabling you to create all sorts of funnels to sell everything from a simple opt-in to a high-end package.
If you’d like to try it out, you can get a free lite version, so check it out GROOVE.CM and LeadsLeap. They have many more features than just sales and marketing automation.
LISTEN: ▶️ The Building Blocks Of Your MLM Funnel
May you be wealthier,
-Corine-
The top producers in MLM don't make a list of 200 people, don't do home meetings or anything like that. They use something equivalent of a sales funnels.