Sales Funnel & Customer Value OptimizationHere is how the Sales Funnel works.
(By the way, I used "Creatly.com" to draw my sample diagram. It is very useful online software and you can draw 2 or 3 diagrams for free.)
Explanation of the diagram:
"Traffic Source" and "Offer a Lead Magnet" are the Acquisition Phase that I discussed in the last post. At this phase, we are trying to get as many prospects as possible.
"Offer a Tripwire" is the Conversion Phase where a prospect become an actual customer.
"Offer a Core Product" and "Offer a Profit Maximizer" are Purchase Phase. "Offer a Profit Maximizer" is, for example, cross-selling or bundling to maximize the profit.
"Cycling Path & Spreading the Market" is the Post Purchase Phase. This is the phase which we help customers to return to our activity and lead them to repurchase our products and/or services.
There are three ways to increase online sale transaction.
How to increase online sale transaction?
- Increase the # of customers
- Increase the average transaction amounts per customer
- Increase the # of transactions per customer
"Traffic Source" and "Offer a Lead Magnet" at the Acquisition Phase and "Offer a Tripwire" at the Conversion Phase increase the # of customers.
"Offer a Profit Maximizer" at the Purchase Phase increases the average transaction amounts per customer
Finally, "Cycling Path & Spreading the Market" at the Post Purchase Phase can increase the # of transactions per customers.
Also, I am charged to develop an automation system using ActiveCampaign and WordPress based on the sales funnel.
In next post, I will share how I improve my Sales Funnel and how to automate the system.