If you operate an online business, you are familiar with the sales funnel. You understand that it covers just about everything from a user visiting your site to joining your email list to purchasing and returning to repeat purchases. It goes unsaid that business owners put a lot of effort into designing their products and acquiring customers. But there are still plenty of ways to optimize a funnel and make a big impact on profitability. Here are seven ways to improve sales funnel compounds.
Tip 1: Increase Revenue with “Order Bumps”
One of the easiest ways to increase revenue is to add order bumps. These are extra products offered to customers on the checkout page. They relate to the product(s) in a customer’s cart. Fast food restaurants often call this a “suggested sale.” When you go through the drive-through and order a burger and a drink, they ask if you would like fries to go with it. It’s a time-proven strategy that can be used on a website’s checkout page. To set up an “order bump,” consider your most popular product. Choose one of your less expensive products that could accompany it and set up the order bump in a tick box.
Tip 2: Creating Upsells for Your Online Business
Offer customers items after they have checked out. That is an upsell. One example is when you purchase an airline ticket, then you will be offered travel insurance, a rental car, and a hotel. These offers come via email following the sale, or they may appear on the confirmation page. Again, look at your most popular products. Choose another product that would make sense for customers, then offer a one-time discount for the upsell. This encourages customers to purchase it right then and there.
Tip 3: Improve Your Offerings
You do not need to reduce your prices or improve a product to increase revenue. Just improve the offer by providing a money-back guarantee or easy returns. Customers take a risk when they buy online. They risk not being happy with the product or losing their money. When you offer them hassle-free returns or a money-back guarantee, they can’t lose. Your business takes the risk instead. Customers are more likely to purchase if they feel they cannot lose.
Tip 4: Use Your Email List
An email list can be a great asset. As a matter of fact, much of the revenue for online businesses come from email instead of directly from website traffic. One caveat is to refrain from bombarding customers with too many sales promotions. Emails should be a welcome site for subscribers. Selling with emails gives people who are ready to buy the perfect chance.
Tip 5: Expand Your Email List
It just makes sense that once your email list increases your revenue, you would want to grow it. Email is a valuable marketing asset. Create a highly desirable lead magnet. Usually, this is a free resource exclusive to new subscribers. Make sure it’s a great incentive so it creates a genuine reason for them to subscribe.
Tip 6: Improve Sales Pages for Your Online Business
Too many bad sales pages exist online. They have unclear images, poor site navigation, or confusing descriptions that discourage sales. A great sales page, on the other hand, grabs users’ attention, explains products’ benefits, answers questions, and solves their problems. Testimonials, FAQs, and guarantees are elements of great sales pages.
Tip 7: Improve Checkout Pages
After you’ve optimized the sales page, added upsells, order bumps, and guarantees, there’s still more. Your checkout page should contain other crucial elements like trust badges, reminders of what is included with the purchased product, testimonials, and your guarantee. All of these items help make your customer feel comfortable spending their money on your site. Take a look at your checkout page. Does it evoke trust and confidence in multiple places?