9 KEY Marketing Automation Best Practices For SALES - Part 2 - 47 Links

9 KEY Marketing Automation Best Practices For SALES – Part 2

By Istvan Bujdoso | The 47 Marketing Show

Mar 09

 

9 KEY Marketing Automation Best Practices For SALES – Part 2

Are you ready for more marketing automation and sales automation tips? 

In this part 2 of our marketing automation and sales strategies series, you will discover just how amazing it is to use a sales funnel for your business. 

Don’t know what a sales funnel is and how to measure its performance? No problem! You will learn all that and more here. 

Today, you will discover: 

  • How to move your customers step-by-step through your sales funnel
  • Marketing automation strategies that could boost your conversion rate
  • How to put up your sales funnel on autopilot
  • What is ACV and why you should focus on it

Excited to enjoy the benefits of marketing automation? Get started with these tips and don’t forget to check out the resources I mentioned! Continue learning and growing your business!  

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Part 1 of this series: 10 Sales & Marketing Automation BEST PRACTICES

Part 2 of this series: 9 KEY Marketing Automation Best Practices For SALES – Part 1

One Funnel Away Challenge – helps to set up your first (or next) sales funnel step-by-step: www.47links.com/ofa

DotCom Secrets Book (28 virtually unknown sales funnel secrets): www.47links.com/dotcomsecrets


 

VIDEO TRANSCRIPTION:

“Welcome to this episode from which, you’ll find out about KEY marketing automation best practices in the area of sales…

…including the HIDDEN KEY to SKYROCKET the growth of your business WITHOUT changing your products or creating new ones.

And later in this series, I will also share with you an EXPENSIVE sales automation mistake most entrepreneurs make and how to avoid it!

My name is Istvan Bujdoso and welcome to The 47 Marketing Show that reveals marketing automation strategies for entrepreneurs to get MORE done in LESS time…

…and ultimately, to grow your business WITHOUT your day-to-day involvement.

Make sure to tap the like button if you enjoy this episode. And don’t forget to subscribe and hit the bell button to get notified of the future episodes. And now, let’s get started.

Just to let you know, this episode is part of a series. The links to the previous parts are in the description.

With that said, let’s dive into the list of the sales automation best practices where we left off in the previous episode.

No. 4: Move Them Step-by-Step. If you’d walk down on the street and keep telling STRANGERS about your product or service…

…and ask them to pay you $5k, $10k, $50k, or $100k for it the chance that they would actually do that is close to 0. The simple fact is, people buy from people who they know, like, and trust.

And the BIGGER the price the MORE trust they need in you to pay. The situation is the same online, maybe even harder to build that trust through the internet than in person.

That’s why sales automation requires a different mindset and approach. Instead of trying to sell a high ticket product or service to a stranger straight away the sales automation…

…and the related marketing need to build trust step-by-step by providing more and more value in each step.

Imagine this: Let’s say you want to sell a coaching package for $10,000 per year (or $1,000 per month).

With the mindset that I told you about, the sales automation solution would be something like this:
Strangers watch a free coaching video from you, they learn something valuable…

…and build a bit of trust in you. As a next step, that video can direct them towards an entry-level, paid mini online course. In which they get more value, and you gain more of their trust.

Things don’t end there. Besides the mini-course giving them value, and building trust, it can also offer them the opportunity to get another paid online course of yours, a higher level than the previous one.

Which will give your clients more value and they reach a higher level of trust in you. These steps go on and on, to the point where some of your clients sign up to your $10k coaching package.

And those steps can go even further, to higher levels. Virtually, there’s no limit to it. It is one of the key sales automation strategies that is often referred to as the “Value Ladder”.

With this step-by-step approach, you not only can make money through the first steps of your value ladder while building out the trust in customers but because of that trust…

…you can also sell MORE of your high ticket product or service over time. And when you make more money, you can also reinvest more into advertising, and bring in more and more new customers.

As you’ll see it in a minute, the “Value Ladder” is an even more important element of the sales automation process.

And then, I’ll tell you about the HIDDEN KEY to SKYROCKET the growth of your business WITHOUT changing your products or creating new ones.

The next on the list of sales automation done right, best practice No. 5: Step-By-Step Sales On Autopilot.

Earlier in this series, I told you about sales funnels, and why they tend to convert better than normal websites.

So now, just a quick reminder that Normal websites let the visitors jump around on the site, providing them many options to choose from and with that…

…more often than not, those websites confuse the potential customers and scare them away.

On the other hand, sales funnels lead the customers through the buying process step-by-step, in a simple, straightforward way and each step asks the customers to make only ONE decision.

That’s the simplified reason why sales funnels tend to convert better than normal websites. And that is one of the main benefits of sales automation with funnels.

Earlier, I told you about the “Value Ladder” and the benefits of that. The “Value Ladder” is the fundamental of a sales funnel. Each step of a “Value Ladder” is a step of a funnel.

That’s how a sales funnel leads the customers through the “Value Ladder” step-by-step, on autopilot.

And when the first steps of the sales funnel sell digital products, like ebooks, audiobooks, online courses, and so on then even the delivery of those values can be automated.

Another one of the beautiful benefits of marketing automation.

When I told you about the “Value Ladder”, I mentioned that each product builds trust by giving value and offers the customers to go to the next level.

And that happens by directing the customers to the relevant step of a sales funnel.

For example, to stick with the previous example, somebody buys the mini online course. They complete it. And at the end of that course, they are offered the next relevant step of a sales funnel.

That way the customer may even buy the next multiple levels of the “Value Ladder” in one go. This is how to automate sales and get more customers.

And later in this series, I’ll also tell you about a simple hack that can boost the sales of any small business even further.

OK, now, let me ask you a quick favor. If you’re enjoying this episode so far, then give us a thumbs up right now. That supports us to create more episodes for you like this one.

Thank you for clicking on the like button. And now, let’s continue.

The next best practice among today’s sales automation tips is No. 6: Focus On ACV That is the HIDDEN KEY to SKYROCKET the growth of your business WITHOUT changing your products or creating new ones.

Once you have a sales funnel up and running, this best practice can do its magic.

First, let’s go through a few KPIs of sales funnels including what ACV is, how to enhance sales performance with it and accelerate the growth of your business.

Then, we’ll go through a few examples. KPIs is the short form of Key Performance Indicators. And related to sales funnels, these are the numbers every entrepreneur should be familiar with.

Pageviews: how many people visit each step of your sales funnel.

If the first step of your sales funnel is an opt-in page, then Opt-in count and rate: how many visitors turn into your leads, and what percentage that means.

For all sales funnels, sales count, rate, and value: for each step of the sales funnel how many people buy, what percentage that is, and what amount of that money is.

Earning per page view: for each step of the sales funnel, what amount of money you make for each visitor.

And the overall KPIs for the whole sales funnel are Earnings per click: what amount of money you make for each visitor of the funnel.

Gross sales: the total amount of money you make in the sales funnel. And the last and most important KPI is…

ACV, which stands for Average Cart Value: on average how much money you make per customer in the sales funnel. Here’s a quick example of that. Let’s say you have a 4-step sales funnel.

A sales page, an upsell page, another upsell page, and a thank you page.

For the sake of making it easier to follow and understand I’m going to make up the numbers Let’s say your sales page sells an entry level offer for $10. 2,000 people visit that page.

5% of them buy, that’s 100 people. And 100 x $10 equals $1,000. The Average Cart Value so far is $10, because each customer paid $10 so far. The next step of this example sales funnel is an upsell page.

Let’s say that sells an offer that solves the next, related problem of the customers, for $100. The 100 people, who purchased in the first step, will see this first upsell. 20% of them decide to buy it.

That’s 20 people. 20 people x the $100 price = $2,000, from the first upsell. Which means $3,000 sales in total so far. That $3,000 / 100 customers = $30, which is the Average Cart Value so far.

Let’s do one more step The next step of this example sales funnel is the SECOND upsell page. Which offers to solve another problem of the customers for $300.

The people who got the FIRST upsell will see this. That’s 20 pairs of eyes. Let’s say it’s a crazy good offer, and 40% of them buy the SECOND upsell as well.

That’s 8 people. 8 x $300 = $2,400, from the SECOND upsell. In total, that’s $5,400 of sales through this funnel. And with that, the Average Cart Value is $5,400 / 100 customers = $54.

Which means, on average, your sales funnel makes you $54 per customer. The HIGHER that Average Cart Value is, the MORE you can spend to acquire a new customer.

And as Dan Kennedy said: “Ultimately, the business that can spend the most to acquire a customer wins.”

That’s why focusing on the ACV, the Average Cart Value, and keep optimizing it, increasing it is the HIDDEN KEY to SKYROCKET the growth of your business.

And the way to do that is NOT changing your products or creating new ones it is optimizing your marketing, marketing automation, and sales funnel.

Here’s a few ideas on what to optimize the traffic to your sales funnel. The channels, quality, timing. The hooks, offer, copy, videos, images, social proof, etc. of each step of the sales funnel.

The follow-up emails to send more and warmer leads and customers back to the sales funnel.

And the list could go on and on what you can optimize to increase the Average Cart Value and grow your business WITHOUT changing your products or creating new ones.

Let me show you in numbers the impact when somebody focuses on optimizing the Average Cart Value

I’m going to illustrate this on the same sales funnel example I was talking about earlier The second step of the funnel, the FIRST upsell was converting at 20%.

Let’s say you test that funnel step with a new video. And from that point, 30% of the people start buying the FIRST upsell.

This would be the result of that The first step of the sales funnel is still the same, from 2,000 people, 100 buy, and a $1,000 is generated. Because of the improvement of the conversion of the second step.

Of the 100 people, 30% buy the FIRST upsell and with that $3,000 is generated. A $1,000 more than previously. That improvement also has an impact on the results of the rest of the funnel.

Because instead of 20 people, now 30 people will see the SECOND upsell and it still converts at the same 40% rate. Now, 12 people buy the $300 offer, and with that $3,600 is generated.

$1,200 more than previously. And that means, instead of $5,400, the whole funnel is generating $2,200 more. In total: $7,600. And with that, the Average Cart Value now is, $7,600 / 100 customers = $76.

You’d have 40% MORE money than earlier to reinvest into acquiring MORE customers. And a $76 budget to acquire a new customer and still break even with your funnel.

And any future sales to those customers would be pure profit.

Can you understand now why focusing on optimizing the ACV is a HIDDEN KEY to SKYROCKET the growth of a business?

Before we carry on, a quick note. If you want to find out more about the topics of this episode, then make sure to check out the DotCom Secrets book. The link is in the description.

And I’ll also leave you a link in there to the One Funnel Away Challenge that will help you to set up your first (or next) funnel, step-by-step.

In the next episode, we’ll continue this series, including an EXPENSIVE sales automation mistake most entrepreneurs make and how to avoid it!

If you enjoyed this video, click on the like button. It helps the channel a bit.

And make sure to subscribe and hit the bell so you get notified of the future videos just like this one.

Thank you for watching. And see you in the next one.”

END OF VIDEO TRANSCRIPTIONAre you looking for marketing automation and sales automation tips you could use to grow your business? Here are some of the best practices you should try!

 

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About the Author

Istvan Bujdoso (47istvan) - Helping entrepreneurs to automate their lead generation... 47funnelsecrets.com