This particular sales funnel was originally developed by the team at Digital Marketer and I have personally used it in my business and my clients business to great effect.
This particular sales funnel model would suit most kinds of businesses but it is especially good if you are an information marketer, affiliate marketer, coach or consultant or run a physical product business.
In just a second, I will guide you through the 5 crucial stages of this sales funnel model so that you can understand it better. However, before I do that, I just want to explain what this sales funnel model is for.
This sales funnel is a front end customer acquisition sales funnel and it is designed to generate your business new leads, turn the leads into customers quickly and then to create multi buyers so that you can grow your business.
There is an equation that shows you how this sales funnel can grow your business using 4 critical business growth metrics which are as follows:
- Increase the number of leads
- Increase the number of customers
- Increase your margin
- Increase buyer frequency
And the business growth equation that brings all of these metrics together is this: L x C x M x F = Business growth
And the splinter sales funnel will potentially increase each of the above metrics for your business so that you can increase your revenue and grow your business.
Now that you know what this sales funnel does, I will now show you each crucial part of this sales funnel model. Below is a blueprint of the splinter funnel:
This will be the first landing page at the beginning of your funnel and a lead magnet if you are not aware is a small piece of valuable information that solves a specific problem for a specific market in return for their email details.
Your lead magnet is the most important part of the sales funnel and in order for it to convert well it must have the following 3 elements:
- Offer a very specific solution to a very specific market
- Promise “One big thing” as opposed to lots of little things
- Speak to a known desired end result
If we look at the business growth equation L x C x M x F this part of the sales funnel increases the number of leads entering your business.
Typical conversion rates for a lead magnet should be around 35% to 40%. But they can be as high or even over 50%.
The next part of this sales funnel is called the welcome offer. this is where we turn your new targeted leads into customers.
2. The Welcome Offer
The welcome offer is an irresistible and super low cost offer that turns your leads into buyers! Crucially people who purchase this offer are 10 times more likely to buy the main or central offer immediately. It also turns your leads into customers which is a huge psychological shift.
A good price range for a welcome offer is somewhere between $7 to $20. This is designed to be an entry level impulse buy that turns leads into customers quickly!
Typical conversion rates for welcome offers are around the 10% mark. If we look at the business growth equation L x C x M x F this offer is designed to increase he number of customers for your business.
The next part of the sales funnel is your central offer.
3. The Central Offer
This will be your main product or service that you are selling and your welcome offer and lead magnet will be splintered from this product or service so that you can effortlessly ascend your leads and customers to your central offer. This is why this sales funnel is called the splinter funnel because you splinter parts of your central offer to create your welcome offer and lead magnet.
Your central offer is best being presented as a video sales letter and the tactic to upsell it for welcome offer purchasers is to use McDonald’s upsell strategy which is: “Want fries and a coke with that?”
What I mean by this is that you are giving your welcome offer buyers the ‘whole’ solution’ to solving their problem by offering them a killer and no brainer deal which is your central offer.
A good price range for your central offer is somewhere between $70 to $197 but you can price it higher than this depending on your market.
Typical conversion rates for your central offer should be around the 10% mark. The next part of the sales funnel is the profit maximiser which is designed to increase average customer value which increase your margin.
4. The Profit Maximiser
This offer is all about maximising immediate profits from your customers and you can offer a range of products and services at this stage in your funnel. Speed and automation products or services based on your central offer work great as profit maximisers.
However, there are many kinds of profit maximisers and some good ones are:
- Immediate upsells
- Cross sells
- Continuity offers
- Coaching and consulting offers
- Done for you services
One of the best types of profit maximisers is the speed or automation upsell. So for example say for your central offer, you show someone how to do something, your profit maximiser could be actually asking them if they need some help by actually doing it for them i.e. speed of results.
This offer in the sales funnel is designed to maximise immediate customer value which in turn increases your margin. The final stage of the sales funnel is the Funnel remarketing. This is where we build goodwill and value with your leads and customers and increase frequency of purchases.
5. Funnel Remarketing
This is the last stage of the splinter funnel and is where you will make the majority of your profits. This is where you will implement your email marketing campaigns and your Facebook re-targeting campaigns to turn leads into customers and increase the frequency that your customers purchase from you.
However the most crucial part of your funnel retargeting will be the follow up email marketing campaigns.
You see when people enter your sales funnel, most people will say no to your offers initially and hence we need a contingency in place so that we can take a second swipe by presenting these offers again to the people who say no initially.
There are 3 key email marketing campaigns at play here:
- The people who didn’t buy anything and will be dropped into the welcome offer engagement campaign
- People who bought the welcome offer but who didn’t buy your central offer will be dropped into the central offer ascension campaign
- People who bought your central offer but who didn’t purchase your profit maximiser will be dropped into the profit maximiser ascension campaign
The crucial thing about the follow-up email marketing campaigns is that we are making the right offer to the right prospects.
By having this extra contingency in place can potentially double our conversion rates for each offer!
So that is the splinter sales funnel. If you are looking for a suitable sales funnel for your business so that you can increase the number of leads and customers your business receives, this is a good sales funnel model to use.
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