If there’s one commonality I’ve noticed with online businesses that are failing or having a very difficult time gaining traction it’s with the way their funnel is setup.
Fact: most businesses don’t have a proper funnel or backend.
Fact: setting up a proper funnel will without a shadow of a doubt increase your revenue, immediately.
Fact: creating a proper funnel is within the budget and capabilities of anyone doing business online.
Depending on the type of business you’re running, you might think about the word ‘funnel’ in a few different ways. For this discussion we’ll use this definition:
Funnel: the process and sequence of events a prospect goes through while becoming a customer
Did you know that a well documented study found that the average consumer needs to interact with a brand at 7-13 times before becoming a customer?
Think about that for a second…
It’s really no wonder so many “marketers” go around saying things like “Facebook ads didn’t work for us” or “native ads don’t generate direct response conversions.”
It’s because they’re doing it ALL wrong.
What they don’t realize is that showing your ad to someone once isn’t going to cut it if you’re trying to sell a product or service.
You need multiple touches, in most cases more than 10, before someone will *really* consider doing business with you.
Enter the 2D Funnel.
Not only that, but you need to build your relationships slowly with prospects and deliver them value in some form along the way.
I call it the 2D funnel because it truly is 2 dimensional and lacking any depth. You would be surprised how many online businesses are setup this way…
A 2D funnel has four major flaws…
- No prospecting or pre-qualification stages: you’re either a customer or you aren’t.
- Only one “touch” which will repel 99% of website visitors.
- No backend or upsell path so it’s impossible to increase average order value or customer lifetime value.
- No way to provide value to the customer before you ask them for money.
Those four problems are seriously throttling your revenue.
Lets say you’re selling a workout program with paid traffic. Most marketers would send the traffic straight to their sales page, probably using a long form sales letter and add to cart buttons sprinkled throughout the page.
If the visitor doesn’t buy the product on the spot, they’re gone forever.
They were never *really* a prospect, and unless they’re in the 1% that will buy your product immediately the first time they see it, that’s it.
This is why I call this type of funnel (or lack thereof) 2 dimensional. There’s no opportunity to re-engage that prospect and you’re out a whole lotta revenue.
Customer or no customer. On or off. 2 dimensional.
Now lets rap about 3D funnels.
a 3D funnel is setup much more intelligently to first qualify prospects then give you ample opportunity to re-engage with and provide value to them. A 3D funnel converts a much larger chunk of visitors into customers while generating more revenue per customer. That second part is key.
Always keep in mind it requires a minimum of 7-13 “touches” in most cases before prospects will buy. Look at how much revenue this client would have lost if they only focused on the first handful of interactions:
We’re literally talking about millions of dollars here. This is the one part you really can’t afford to be lazy about.
Going back to the previous example, here’s exactly how I would setup the funnel for the workout program:
Two important notes about this type of a funnel:
- Whatever you give away in exchange for an email address should pre-qualify the prospect as the type of customer you want. For example, if someone is opting-in for a report on fat loss it’s safe to assume they’re interested in learning how to lose fat.
- The key is to provide value at each stage of the relationship – focus on the value you provide and the money will follow.
The more specific you are with the squeeze page offer the more tightly you can dial in your messaging. Fat loss is pretty vague so if this were a real client I would look for a more unique and specific angle. Lets say the program requires no weights and can be done from anywhere, a good squeeze page offer (lead magnet) might be:
5 fat blasting exercises that can be done from anywhere, with no gym and no equipment
If someone enters their email address to claim this report, you can assume:
- They’re interested in the core product you’re selling.
- They’re interested in the bodyweight aspect that can be done from anywhere.
Now that you have their email address you can re-engage with them through email while nurturing them with retargeting ads to get your 7-13 touches in before they eventually become a customer.
With a 3D funnel you’re in control. You set the pace and can advance prospects down the funnel however you see fit. You’re also going to be able to capture A LOT more high quality leads using a 3D funnel.
Always be thinking about your funnel and how you can improve it. With your funnel you should be:
- Maximizing the value of each customer.
- Creating as many “touches” as possible with different channels (email, social, retargeting, etc.).
- Providing massive value at each stage of the relationship.
How “3 dimensional” is your funnel?