business coach, business growth, results, business strategy

If you’re new to business or have even been in business for a while, I’m willing to bet you have heard the buzzword…funnels.  But what are funnels?  Why is it a buzzword? Newsflash…a funnel is only as good at the products in it and the strategy behind it.  Let’s take a hard look at the truth about funnels and strategy.

 

What is a funnel?

They are basically a really fancy process and software that takes your clients on a journey and puts people into your pipeline. A funnel is simply the journey from a cold to warm audience. 

So you’ve drawn your audience in with a lead magnet, podcast, or some form of lead generation. They come into your business cold, and then you take them to the next step. And then once they go through that next step, you send them to the next step. Eventually, the goal is that they work with you or start to purchase. That’s literally all a funnel is. 

 

But here’s the problem… 

So many people get caught up in actually setting up the funnel.  They get caught up in all the software and all the technology thinking that it’s some kind of magic formula to success. But your funnel is only as good as the strategy you put behind it and the products that are in it. You could set up a funnel with this lead magnet that draws people in, but if it’s not a lead magnet that your ideal client wants…your funnel is garbage. 

 

Here’s an example…

I told my coach that I had this idea for a lead magnet.  She said, “I’m sorry, but I don’t care how bad you think your audience needs that…they aren’t going to want it.”  It was true. It was advanced data analytics which everybody needs, but nobody really wants.  

So I could have spent all of this time, energy, and resources setting up this funnel to draw people into this lead magnet, that would bring them to a challenge, and then would bring them into a Facebook group.   But the reality is…nobody would want it.  

 

You have to think about your funnel differently. 

Think about it from a strategy perspective. You need to ask yourself:

1- What’s the long term vision for this product? 

2- What’s the goal?

3- What is the client journey? 

You always need to be thinking about the next step.  That’s essentially all a funnel is! It is the next step from cold to warm. Every step warms up your audience a little bit more. You’re nurturing them. Every single step of your funnel should be building the know, like, and trust factor.  

 

Let’s think about your own buying process.

Do you see an ad and buy something the second you see that? No! Most of the time you click on it and think it’s really cool.  But then you move on. Then next thing you know that ad is popping up again. 

This is all part of the funnel. Every time they show you this ad, you’re warming up. They’re nurturing you in a different way. They’re showing you a different way that you can use this product. At this point, you’re still a cold audience, but every step is warming you up. 

 

This is why you have to really think about who your ideal client is. 

How do they make buying decisions? What is going to be the least point of entry for them? What is something that they are going to say yes to? It can be a lead magnet, but what is the next step for them? If you don’t have a next step, then you don’t have a funnel. And if you don’t have a next step after that, then there’s no strategy. 

 

The reality is…a funnel is just the client journey. 

Take your client through the journey. Figure out what the steps are that they need to go through.  Then figure out the technology that you need. Don’t get wrapped up in the technology itself because it’s only there to make things easier as far as automation.

Building a funnel does not automatically make you the next millionaire. You have to have a good product and a good strategy that people want to buy into.  Your funnel is truly only as good as the strategy behind it.  You cannot have one without the other and be successful.

 

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Connect with Michelle-

Website – https://michelledenioconsulting.com
Facebook Profile – https://www.facebook.com/MichelleDeNioBizStrategist/
Linkedin Profile – https://www.linkedin.com/in/michelledenio/

 

Have Questions? Let’s have a Cup of Virtual Coffee!

 

 

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