The Sales Funnel

Note: This transcription has been generated with AI and there may be errors present. 

So today’s step by step guide is all about sales, and specifically, the sales funnel. And the reason for doing this video is at the moment, the stats are showing that it’s around about five times as expensive in time, money and energy to get a brand new customer than it is to keep an existing customer. So this is all about once you’ve won a customer, or how to win that first customer, and then continuing to sell to them and work with them over a period of time. So don’t invest all of that time, energy and money to win a new business, a new piece of business, a new customer, and then only sell him one thing that seems like a complete waste. Sell him lots of things over a period of time and build a strong mutually beneficial relationship where you help them and they pay you for what you’re doing. So what I thought I’d do is share with you our business model to help you understand how to apply it to your business. So the sales funnel, I’ve started drawing it on the wall here. But it always starts with an out rageous. free offer. And the outrageous free offer is the thing that you can give away to get people excited to try what you’re doing to build trust and to engage with them. Give you a few examples. For us the outrageous free offer is we do free online courses we give our free content. We go into housing associations in different areas. And we give away free talks. So people get a free taste of what we’re doing that builds trust. Other examples of free tasters, if you go into hotel shockula, the first thing they do is offer you a plate with chocolate on they give you a free taster. If you go well, I was walking down the street in Basingstoke, and there was a chef in whites with a silver platter of pizza. I tried his pizza, it was amazing. It got me into the restaurant for the next step, which is what you buy something small. So in hotel Chicago, they give you a taster. And then you hope that you buy something in the pizza guy, I bought the pizza, I went into the restaurant, I bought lunch. In our situation, people take the free taster they get to know and like it. And then they maybe buy the three day course. And it’s something of a reasonable value that they buy. But it’s not that difficult to make the first purchase. Us, what we then do is look to prove the three day course works and give stats and show that it’s good, which builds trust. And then we sell them the next thing, which is maybe the one week long course. And after they bought the week long course and it goes really well and it delivers the results. Maybe they buy the two week course. And this has actually specifically happened to us in some of the places we’ve been one of the ones we run in Wales regularly. We started actually with a three day course for a housing association there. The next year, we did the week long course for several housing associations. Then the third year, we did the two week course for a whole set of funders there, which has led on to more afterwards. And what you do is you do a great service for each customer, which always leads on to the next sale. And really, you should be doing this role less customers. Because if your customer loves what you’re doing, they want to buy more from you. They want to do more business with you offer them something next, which leads them to a two week course and then we sell the set of courses. And then eventually, what we’re looking to do is to have the permanent building, or what we’re going to call our rebel business school, and each one is of increasing value, and people move down the sales funnel. And it’s the same with hotel Shukla.

You’ve got the outrageous free offer of free chocolate, who can say no to free chocolate, then you buy a small item, then you buy the package. Then you sign up to the tasting club where for 2295 a month they send you a box of chocolates every month, then you go to the restaurant, then you can go and visit the plantation and go travelling to the SPAR and spend 1000s. So from a free to a three pound to a five pound to a 20 to 95 a month which is like hundreds of pounds a year to a 70 pound meal to 1000 pound holiday. They’re continually selling you stuff if they love what you do. So don’t care whether your business is a knitting business, a food business, a marketing business, there are always different things you can sell. And my challenge to you is to think about the seventh sale not just the first. So build long term relationships with each customer that you gain and gradually sell them more things each year. I have three things to give you at the end of this video. And they are number one, we’re going on a national tour across the UK, we’re going to Dublin, Scotland, we’re going all across England and Wales to help people start small businesses and make money doing what they love. So if you want to come along, you can find free tickets at pop up business school.co.uk forward slash events, and that will show you where your local events are. Secondly, the full list of the startup guides each week for 20 weeks, we’re doing a step by step guide to building up a business. So if you want to find the other episodes of the guide, go to PopupBusinessSchool.co.uk forward slash hub, which will show you the startup guide and all of our information. And the final thing if you like our videos, then subscribe to the YouTube channel@youtube.com forward slash user pop up business or just search for pop up business school on YouTube. We’d love to have you as a subscriber. Put a message in the comments below and let us know how you get on with sales.