Recently, I had the pleasure of being interviewed by Simon Allard on one of my favorite subjects: Marketing a coaching business (specifically, sales funnels and multiple streams of income). Listen to the interview for free here.
I thought I'd outline some of the tips we discussed here on the blog, only instead of doing the predictable thing and listing what TO do, I figured it might be interesting to look at this from the "what NOT to do" perspective.
First: "Tell me again, what's a sales funnel and why do I need one?"
A sales funnel is simply a way to describe how you get, keep and grow the lifetime value of customers. It defines the stages that people move through in your business and the strategies you use to help them move from one stage to the next.
Without a well-planned sales funnel, you're much more likely to have gaps in your marketing system -- and gaps can be fatal.
So if your business is not what you want it to be – if your list isn't growing; if getting clients seems harder than necessary; if your marketing is landing on deaf ears – check to see if any of these techniques for wrecking your sales funnel sounds familiar.
7 ways to wreck your sales funnel
#1: Just say no to a target market.
What do you say when someone asks, "Who do you work with?" If your answer begins with "Anyone" or "Everyone," or if you can't outline the problem that your business helps them with in a simple sentence, your market is probably too broad. And the broader your market, the less relevant you'll seem to individual prospects.
Unfortunately, a broad market is something few self-employed coaches can afford. It eats into your profitability, because proving that you're relevant to a variety of people with widely different goals and needs takes more time and effort.
It's far more profitable (and easier!) to focus on a well-defined target market – a group of consumers who share certain key characteristics, including a common problem or goal. You'll find that it's easier to connect with potential customers and help them get the results they're looking for.
Bottom line:
Make sure you have a clear understanding of your target market and the problem that your business solves.
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