One of the main challenges with network marketing is getting enough people on board. It relies on volume rather than high commissions to create a profitable enterprise for the operator.
Sales funnels can be used to increase traffic, improve conversion rates, and enhance retention. They operate by strengthening different areas of a network marketing scheme to make it more profitable for all parties involved.
This article looks at how you can integrate a good sales funnel with your network marketing plan to drive growth and profitability.
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How To Use Sales Funnels for Network Marketing
Sales funnels can come in handy if you want to find new customers, improve customer retention and conversion, or increase the number of upsells you can do after the initial sale.
For network marketing, and many other purposes, sales funnels can be optimized in multiple ways. However, you can achieve two main things with them, and both are tied to the basic nature and structure of network marketing.
You can use a sales funnel to either increase the number of end-user sales you do or increase the number of distributors who are helping the business increase sales.
Depending on their unique audience, you can consider developing sales funnels for distributors to improve their performance and ultimately benefit the company.
Sales Funnels for Distributors
Distributors of network marketing will want to increase their horizontal and vertical reach over their audience to make more money. However, this will also benefit the company due to higher overall revenue.
This is an excellent approach for products with a higher commission, leaving the company with a higher net profit. The purpose of a sales funnel in such a situation would be to increase the number of distributors the company has so that they all come through the existing marketing channel levels.
This way, the company grows, and the number of distributors grows. The strategy here is to gain the attention of possible distributors. A great strategy is to have a webinar or a physical conference where potential distributors can learn about the products/services and the profitability and see live case studies of how people have made money from the system.
The main thing to highlight is how efficient the product/service is and how it will help potential distributors change their lives. This is not the time to train these professionals but rather to market the idea of changing their life through this stream of business.
Sales Funnels for Users
This sales funnel will function more like a classic sales funnel used to market products and services to the end users. The objective is to get the word out to the masses, work on warming them up into leads, present them with the initial offer, and then take the converted audience on to more upsells.
The exact mechanism will vary for different products and services, but the overall system will remain the same. These days, the internet is a powerful way to reach a global audience quickly and cost-effectively.
This could involve social media marketing, paid ads, or influencer marketing. A slightly more affordable but time-consuming process would be organic marketing by way of blogging, SEO, or content marketing.
Creating solid assets in the form of landing pages, bridge pages, copywriting, and engaging content, in general, will be vital in taking an audience and piquing their interest in the available offerings.
Next, consider adding free material to develop a rapport and gain the data you need to better guide them along the buyer journey. This can be in the form of eBooks, some insightful and exclusive emails, or any free content that you can easily share with a large audience.
Lastly, you want to have a good sales page and other upsell pages to improve customer retention. Here you can also have a feedback loop to keep engagement high and keep buyers enticed for future offerings.
Optimizing the Sales Funnel
Optimization requires both careful planning and some trial and error. Ideally, you should study what competitors are doing and gauge where they are lacking and what they are doing right.
Signing up to a competitor’s network and going through the process, even multiple times, will give you a solid idea of what is working for them.
Using this research and experience, you can see how to make the most out of the funnel you develop. If you are creating a sales funnel to increase distributor acquisition, look into distributors’ challenges in expanding and see why potential distributors are not going for your offering.
This will give you the information needed to help existing distributors expand more fluidly and allow you to acquire more distributors directly.
With both these strategies, you can propel growth through the distributor framework without directly investing in customer acquisition. Moreover, as your existing and new-incoming distributors find it easier to make money, it will have a ripple effect as they will attract more people to the network.
People all over the world want to make and save money. You can help people do these things simultaneously and continuously through the network marketing system.
You can see incredible results from the get-go with the right product/service and target audience. So make sure you research and invest in the right places to make the most out of your sales funnel for network marketing.
Once you have defined a system that works, it can be automated so you and your associates can make money without lifting a finger!