Develop the Sales Funnel and Customer Value Optimization (Week 2 - Week 3)

During the week 2- week 3, I developed the Sales Funnel proposal and Customer Value Optimization for the company. I will summarize how the Sales Funnel works and what CVO is on this post.

Sales Funnel & Customer Value Optimization

Here 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.

How to increase online sale transaction?

There are three ways to increase online sale transaction.

1. Increase the # of customers
2. Increase the average transaction amounts per customer
3. 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.

After the meeting with my CEO, we decided to edit my proposal and make it more specific to the company.
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.