How To Maximize Your Lead Generation Pipeline

How To Maximize Your Lead Generation Pipeline

Source link

So you have a lead generation pipeline in place. But how can you maximize its effectiveness?

Today we are going to discuss how you can increase:

  1. Lead quantity.
  2. Lead quality.

Want to get more and better leads?

Continue reading…

Understand The Big Picture

It’s probably safe to say that most lead generation mistakes are a result of viewing lead generation as an isolated activity instead of seeing it in its proper context.

And what’s that proper context?

Your sales funnel.

What Is a Value Ladder Sales Funnel?

Here at ClickFunnels, we believe that the most effective way to sell online is the Value Ladder sales funnel.

It was created by our co-founder Russell Brunson who used it to take ClickFunnels from zero to $10M+ in annual revenue in just one year (it’s at $100M+ now).

So how does the Value Ladder sales funnel work?

It has four stages:

  1. Bait. You offer the potential customer a lead magnet in exchange for their email address.
  2. Frontend. You offer the potential customer your least expensive and least valuable product.
  3. Middle. You offer the customer a more expensive and more valuable product.
  4. Backend. You offer the customer your most expensive and most valuable product.

Ideally, there’s also a continuity program of some sort, meaning, a subscription product that generates recurring revenue.

The Value Ladder graphic.

The reason why the Value Ladder sales funnel works so well is that it allows you to:

  1. Start the relationship with that person by providing free value.
  2. Nurture that relationship by continuing to provide free value.
  3. Build trust by providing progressively more paid value at each stage of the funnel.

Here’s how Russell explains it:

What Is a Lead Generation Funnel?

The lead generation funnel is the first stage of the Value Ladder sales funnel (Bait):

  1. You create a lead magnet.
  2. You create a landing page for that lead magnet.
  3. You drive traffic to that landing page.

Once the potential customer gives you their email address in order to get access to the lead magnet, they enter your sales funnel and become a lead. This is where lead generation ends.

Now the goal is to convert that lead into a paying customer.

Why Your Lead Magnet Is the Foundation of Your Entire Sales Funnel

You know how in supermarkets you sometimes see those stalls where you can get free food samples?

Your lead magnet is just like that free food sample. It should give the potential customer a free taste of the value they can expect from your paid products.

And if your lead magnet is a disappointment, don’t expect anyone to be interested in your frontend offer.

Would you go and buy an entire jar of jam if the free sample tasted horrible?

Didn’t think so.

That’s why your lead magnet is the foundation of not only your lead generation funnel but also your entire sales funnel.

It’s the single most important element of the Value Ladder because if you mess up in the Bait stage, it doesn’t matter what you offer after that, the potential customer won’t give you a second chance.

How To Create an Effective Lead Magnet

So how can you create an amazing lead magnet?

What’s important is that:

  1. Your lead magnet offers a solution to a problem that your potential customers are struggling with.
  2. That problem is the same problem that your frontend product addresses.

That way, your lead magnet will not only entice the potential customer to give you their email address but will also get them interested in the subsequent offer.

For example:

Matthew Hussey, the world-renowned dating coach, has a lead magnet called “9 Texts” that features nine texts that women can copy-paste when texting a guy they like.

How To Create an Effective Lead Magnet example.

And if a woman gets positive results by using those nine texts, then she might be interested in Matthew’s paid product “Momentum Texts” which offers 67 more texts.

How To Create an Effective Lead Magnet, The Momentum Text example.

Do you see how Matthew’s lead magnet serves as a free sample of his frontend product?

There’s a logical progression from downloading  “9 Texts” to buying “Momentum Texts”. That’s what you want in your sales funnel as well.

After all, the ultimate goal isn’t to just get a potential customer’s email address, it’s to convert them into a paying customer and then into a repeat customer!

Of course, that conversion is predicated on the value of the lead magnet, so if you want this to work you need to make sure that your lead magnet is super valuable. There’s just no way around that.

Always See the Big Picture!

When you are designing your lead generation pipeline, you need to ask yourself how it fits into your sales funnel.

Here are three questions that you should ask:

  • Does your lead magnet appeal to your ideal customers?
  • Does your lead magnet serve as a free sample of your frontend product?
  • Is there a logical progression from your lead magnet to your frontend offer to your middle offer to your backend offer?

Also, when you are evaluating the effectiveness of your lead generation funnel, don’t just look at the lead quantity, look at the lead quality as well.

In other words:

Don’t just look at how many email addresses you have collected, look at what percentage of those email subscribers converted into paying customers.

Ultimately, your lead generation funnel is just the first stage of your sales funnel, so you need to always keep that big picture in mind.

Beware of lead generation myopia where you start focusing on generating leads for the sake of generating leads!

Always See the Big Picture! graphic.

Troubleshoot Your Lead Generation Funnel

Okay, so now that you understand the big picture, it’s time for troubleshooting.

You should look at this data:

  1. Paid ads conversion rates.
  2. Lead magnet landing page conversion rate.
  3. Lead to paying customer conversion rate.

(We are assuming that you are using paid advertising to drive traffic to your lead magnet landing page)

These conversion rates should help you identify the issues in your lead generation funnel.

Here are the three most common problems that you might discover:

Problem #1: People Don’t Click on Your Ads

Struggling to get people to click on your ads?

You might want to take a closer look at:

Your lead magnet

It might be that your lead magnet simply isn’t valuable enough to be appealing to potential customers.

You have to remember that nowadays people are tired of junk lead magnets.

No one wants to download yet another useless ebook that they will never even open or to register for yet another tedious webinar that is just a 45-minute sales pitch.

In other words:

You can’t just throw together some random freebie and expect leads to come flooding in just because you are giving something away for free. Free junk is still junk.

That’s why we always emphasize this:

People won’t give you their email addresses unless you offer something SUPER VALUABLE in return.

So is your lead magnet super valuable?

Maybe it is. Maybe it isn’t. We don’t know.

But you need to be honest with yourself here.

Your Ads

It might also be the case that your lead magnet is valuable enough, but your ads do not convey that value.

So take a closer look at your ads:

  • Do they grab attention?
  • Do they communicate the main benefit of your lead magnet?
  • Do they have a clear call to action?

Keep in mind that social media is an extremely distracting environment. You need to make it immediately clear how your lead magnet will make the potential customer’s life better. Otherwise, they will just keep on scrolling.

Your Ad Targeting

Finally, it might be that your lead magnet is valuable enough, that your ads are on point, but that you are showing those ads to the wrong people. 

Are you sure that you are targeting your ideal customers?

A common mistake here is to cast the net too wide because you are afraid of missing out on sales. Why exclude anyone, right?

But it’s important to get clear on who your ideal customers are, then narrow your ad targeting to that specific demographic and exclude everyone else. More on that later.

And remember that you are not doing anyone any favors by showing them ads for something that they are unlikely to be interested in.

Not only you are wasting your marketing budget but you are also annoying people with irrelevant ads!

Problem #2: People Don’t Give You Their Email Addresses

People click on your ads, visit your lead magnet landing page, but then leave without giving you their email addresses?

The most likely explanation here is that your lead magnet simply isn’t valuable enough, so potential customers check it out but aren’t interested enough to get it.

However, if you believe that your lead magnet is valuable enough, then you might want to look for ways to improve your lead magnet landing page.

Here are three questions that you should ask:

  • Does the headline of your lead magnet landing page convey how your lead magnet will make the potential customer’s life better?
  • Is the landing page copy benefit-driven as opposed to feature-driven?
  • Is the call-to-action button large, bright, and impossible to miss?

When a landing page isn’t converting, it’s likely that one or more of these three things is off, so getting all three right should help you increase the conversion rate.

Also, web design clutter is a conversion killer, so you might want to consider simplifying your landing page.

Here’s how Russell explains this:

By the way, we have created a comprehensive guide on this topic, so be sure to check it out:

“10 Tips For Killer Lead Generation Landing Pages”

Also, it is possible that the issue isn’t the lead magnet or its landing page but the traffic quality.

Are you sure that the people you are sending to your lead magnet landing page are your ideal customers?

Problem #3: People Don’t Buy From You

People click on your ads, subscribe to your email list, but then don’t buy anything from you?

Once again, your lead magnet is the first thing that you should look at.

However, if you believe that your lead magnet is valuable enough, then you should dig deeper into the data.

Do people open your sales emails?

If new subscribers aren’t opening your sales emails, then it’s likely that the problem is the subject lines. How can you make them more compelling?

Do people click through to the sales page?

If new subscribers open your sales emails but don’t click through to the sales page, then it’s likely that the problem is the email copy. How can you make the benefits of your frontend offer clearer?

And if new subscribers open the emails, click through to the sales page, but then leave it without buying, it’s likely that the problem is either the frontend offer itself or its sales page.

Also, note that we aren’t talking about a “sales email”, we are talking about “sales emails”, as in plural.

You can’t just send one sales email and leave it at that, you need a proper follow-up sequence if you want to maximize your revenue.

Finally, the issue might be low-quality leads, meaning people who subscribe to your email list but are unlikely to buy anything from you.

Analyze Sales Data, Adjust Ad Targeting

So how can you increase lead quality?

You need to figure out who’s already buying your products, then focus on attracting more people like that.

Who Is Actually Buying Your Products?

Look at your sales data.

What traits do people who have already bought something from you have in common?

Use these traits to create a customer persona, then use that customer persona to narrow down your ad targeting.

Apply the Pareto Principle

You can take this even further by applying the Pareto principle also known as the 80/20 rule:

Roughly 80% of the consequences come from roughly 20% of the causes.

It’s likely that around 20% of your customers bring in around 80% of your revenue, while the remaining 80% of the customers bring in just 20% of the revenue.

Analyze the sales data, figure out what traits these lucrative customers have in common, and create a customer persona based on those traits.

Then use that customer person to narrow down your ad targeting to attract people who are your ideal customers.

This can help you drastically increase lead quality.

Focus On Your Ideal Customers, Exclude Everyone Else

As we have mentioned previously, a common mistake is casting too wide of a net, so you want to make sure that you are precise in your ad targeting.

Figure out who are your ideal customers, then go after them and ignore everyone else.

For example:

When Noah Kagan, the founder of Sumo and AppSumo, realized that female email subscribers weren’t converting to paying customers, he stopped targeting women in his Facebook ads campaigns.

This might seem controversial but it really shouldn’t be.

Here’s how Noah explained his decision:

“It’s not that I don’t like women. I love them! 
But the point is that they are not actually as interested in my content.
There’s probably someone who can better share that type of content with them.
So I target my audience which is males, 25-44.”

Of course, that doesn’t mean that no woman has ever bought anything from AppSumo.

However, the point is that your ad targeting should be based on the rule, not on the exceptions.

So who is already buying your products? Target those people. Forget everyone else. Your lead quality will increase overnight!

Want Russell To Show You How To Build a Sales Funnel That Converts?

Implementing the advice in this article should help you take your lead generation pipeline to the next level.

But as we have already explained, your lead generation funnel is just the first stage of your sales funnel, so you need to make sure that the rest of it is on point as well.

Our co-founder Russell Brunson is one of the top sales funnel experts in the world.

He used sales funnels to grow ClickFunnels to $100M+ in annual revenue, he wrote several best-selling books on the topic, and he charges big brands seven figures to build funnels for them.

Wouldn’t it be great if you could learn from him how to build a sales funnel that converts? Well, guess what, you can!

That’s what our 5 Day Challenge is all about:

You will learn how to:

  • Generate unlimited leads.
  • Create your first lead magnet.
  • Build your first sales funnel.
  • Create a simple 6-email follow-up sequence.
  • And launch your funnel!

…in just five days.

So don’t hesitate.

Join our 5 Day Challenge today. It’s completely free!

30 Day Challenge

One Funnel Away

Traffic Secrets Book

Funnel Challenge

DotCom Secrets

Expert Secrets Book

Funnel Hacking Secrets

Perfect Webinar Secrets

5 Day Lead Challenge

DotCom Secrets Summit

Leave a Comment

Your email address will not be published. Required fields are marked *