If you take a moment to consider your sales funnel you’ll come to realize that it just might be the lifeblood of your business, and your biggest asset. Things happen fast on the Internet, and not always in a manner you can control.
Your website can get de-indexed in a snap, Facebook could disapprove your ads, or your main product could someday become obsolete. Having a well-established sales funnel is the key to picking yourself up by the bootstraps and recovering. The sales funnel is your guarantee that you will never have to restart from scratch.
The funnel is also an excellent strategy that extends your marketing reach. Consider a single product. It sells well and you’re doing okay even without a list. But every day you must be out there drumming up sales because your income depends on it. This is a lot of work that you must repeat day in day out. Wouldn’t it be more efficient to spend that time getting clients into your sales funnel?
Once they are in the sales funnel they may buy your main product, or they may not as it might not be the right fit for them. Simply make them another offer that you think will suit them better, be it one of your own products, or another from a different supplier. Just make sure you have set it all up so you receive the commission from the sale.
It might not be as great an option as selling your own product but at least the money is still coming in. Plus, the important thing to take away from this is that you have helped your customer and improved your relationship with them. They are still on your list and ripe for repeat sales.
This strategy can be extended even further to derive even more value from your sales funnel and list. Having a sizeable list is an attractive asset to other business owners in your niche. A joint venture, where you promote their product to your list and they promote your product to their list benefits both of you with a growing list, more leads, and even more sales.
Are you starting to realize just how valuable an asset your list is now? It’s such a crucial step for building a successful business, both online or brick and mortar, as the sales funnel will work in either arena.
Of course, you never want to stop building your list. No matter how great your business is people will gradually drop off your list if you don’t maintain it and consistently update its members with quality content and relevant offers. It’s more about working smarter and multiplying your efforts.
So, to sum up, your list is your most valuable asset because it allows you to make better use of your time by focusing your efforts only on qualified leads, giving you more options with joint ventures, and allowing you to make more sales with less effort.
In the event of a catastrophe, a well-developed sales funnel will also give you options to recover quickly, rather than destroying your business outright.