What’s a sales funnel? Do I need one? What does it look like? How does it help sales?
They’re not the most intuitive thing for beginner marketers to understand, but creating effective sales funnels is crucial for converting prospects into paying customers (and then loyal lifetime fans).
With ThriveCart, you can optimize your checkout process and boost conversions – but you can also create complex sales funnels. This article will guide you through the steps to create high-converting sales funnels using our platform, from understanding the basics to implementing advanced strategies.
Understanding Sales Funnels
In a nutshell: a sales funnel is a series of steps designed to guide prospects towards making a purchase. The funnel typically consists of four stages: awareness, interest, decision, and action.
Imagine a funnel shape (groundbreaking, I know) – the top layer, Awareness, contains everyone who might be aware of your product through advertising, word-of-mouth, or outreach. After that, people who move from that layer down to Interest are the ones who want to learn more. Moving from Interest to Decision means they’re at the decision-making stage of the process, and your goal is to then move them to Action, to make their purchase.
As you may imagine, each stage requires different tactics to move prospects further down the funnel: moving someone from Awareness to Interest, for example, means you need to convey different information than when you’re moving someone from Decision to Action.
Stages of a Sales Funnel
- Awareness: At this stage, potential customers become aware of your product or service. The goal is to attract attention and generate interest.
- Interest: Prospects express interest in your offerings and seek more information. Content that educates and engages is key.
- Decision: Prospects are considering making a purchase. This stage involves addressing objections and providing incentives.
- Action: The prospect makes a purchase and becomes a customer. A smooth and persuasive checkout process is critical.
Setting Up ThriveCart
Before diving into creating your sales funnel, it’s important to set up ThriveCart correctly to give you the best chance at success. Here are the steps to get started:
1. Create a ThriveCart Account
If you haven’t already, sign up for a ThriveCart account. We’ve made the setup process straightforward, and you’ll instantly gain access to all the features you need to design and build your sales funnel.
2. Integrate Payment Gateways
ThriveCart supports various payment gateways, including Stripe and PayPal. Next, integrate your preferred payment gateway to ensure seamless transactions.
3. Configure Your Settings
Customize your ThriveCart settings to match your business needs. This includes setting up your business information, tax settings, and default currency – it’s not the most exciting bit, but it is important!
Designing Your Sales Funnel
Now that your ThriveCart account is set up, let’s dive into designing a high-converting sales funnel.
ThriveCart comes with features such as upsells and bump sales to make the most of every transaction. You can add pages to your checkout for a sales funnel that appeals to every stage of the buyer journey.
1. Identify Your Target Audience
Understanding your target audience is crucial for creating a successful sales funnel. Conduct market research to identify the demographics, needs, and pain points of your ideal customers.
2. Create Compelling Offers
Your offer is the core of your sales funnel. It should be irresistible and clearly address the needs of your target audience. Consider offering:
- Lead Magnets: Free resources such as eBooks, checklists, or webinars to capture leads.
- Tripwire Offers: Low-cost, high-value products to convert leads into paying customers.
- Core Offers: Your main products or services.
- Upsells and Downsells: Additional products or services offered after the initial purchase to increase average order value.
3. Design Engaging Landing Pages
Landing pages are critical for capturing leads and driving conversions. ThriveCart allows you to create customized landing pages that align with your brand. Key elements of a high-converting landing page include:
- A Strong Headline: Grab attention and clearly convey the value of your offer.
- Compelling Copy: Focus on the benefits and address pain points.
- High-Quality Images and Videos: Visuals can enhance the appeal of your offer.
- Clear Call-to-Action (CTA): Make it easy for visitors to take the next step, whether it’s downloading a lead magnet or making a purchase.
4. Set Up Email Marketing Automation
Email marketing is an essential component of any sales funnel. Use our integrations with popular email marketing platforms like Mailchimp, ActiveCampaign, or ConvertKit to automate your follow-up sequences.
5. Implement Order Bumps
Order bumps are additional offers presented during the checkout process. These are typically low-cost, high-value products that complement the main offer. ThriveCart makes it easy to add order bumps, which can significantly increase your average order value.
6. Utilize One-Click Upsells
One-click upsells are additional offers presented immediately after a purchase. Customers can add these products to their order with a single click, without re-entering payment information. ThriveCart’s one-click upsell feature is powerful for increasing revenue.
Optimizing Your Sales Funnel
Creating a sales funnel is not a one-time task. Continuous optimization is necessary to improve conversions and maximize revenue.
1. A/B Testing
A/B testing involves creating multiple versions of a page or offer to determine which performs better. ThriveCart allows you to A/B test various elements of your sales funnel, including headlines, images, and CTAs.
2. Analyze Your Metrics
Regularly review your sales funnel metrics to identify areas for improvement. Key metrics to track include:
- Conversion Rate: The percentage of visitors who complete the desired action.
- Average Order Value (AOV): The average amount spent by customers per transaction.
- Cart Abandonment Rate: The percentage of visitors who add items to their cart but do not complete the purchase.
3. Optimize Your Checkout Process
The checkout process is a critical part of your sales funnel. ThriveCart gives you several features to streamline and optimize this process:
- Simplify Checkout Forms: Only ask for essential information to reduce friction.
- Enable Auto-Fill: Make it easier for returning customers to complete their purchase.
- Use Trust Signals: Display security badges and customer testimonials to build trust.
4. Leverage Social Proof
Social proof, such as customer reviews and testimonials, can significantly boost your conversions. Highlight positive feedback on your landing pages and checkout pages to build credibility.
5. Create Scarcity and Urgency
Scarcity and urgency are powerful psychological triggers that can drive conversions. Use countdown timers and limited stock notifications to encourage prospects to act quickly.
6. Offer Multiple Payment Options
Providing multiple payment options can reduce friction and cater to a wider audience. ThriveCart supports various payment methods, including credit cards, PayPal, and even Apple Pay.
Advanced Strategies for Boosting Sales Funnel Conversions
Once you have the basics in place, consider implementing advanced strategies to further enhance your sales funnel.
1. Segment Your Audience
Segmentation allows you to tailor your marketing messages to different groups of customers based on their behavior and preferences. Use ThriveCart’s integration with your email marketing platform to segment your audience and deliver personalized content.
2. Create Membership Sites
Membership sites offer exclusive content and benefits to paying members. ThriveCart gives you a built-in membership platform in Learn, making it easy to set up and manage a membership site. It’s set up to deliver online courses with modules and lessons, but you can use it to deliver any content you want.
3. Use Webinars for High-Ticket Sales
Webinars are an effective way to sell high-ticket products or services. They allow you to provide value, build trust, and address objections in real-time. Use ThriveCart to create a seamless registration and checkout process for your webinars.
4. Implement Retargeting Campaigns
Retargeting involves showing ads to people who have visited your website but did not make a purchase. Use Facebook Pixel or Google Ads to retarget visitors and bring them back to your sales funnel.
5. Utilize Affiliate Marketing
Affiliate marketing allows you to leverage the reach of other marketers to promote your products. ThriveCart has built-in affiliate management features, making it easy to set up and manage your affiliate program.
Build Your Sales Funnel with ThriveCart
Love strategic planning, continuous optimization, and leveraging advanced features? Building sales funnels is for you. By understanding your target audience, designing compelling offers, and optimizing each stage of the funnel, you can significantly boost your conversions and revenue. Our robust features give you everything you need to create and manage effective sales funnels, setting you up for future growth.
We’d love to see what you create. Try ThriveCart now.
