How to Find (and Fix) the Leaks in Your Sales Funnel
When it comes to creating any sales funnel it takes work.
Between landing pages, emails, sales pages, urgency drivers and even the process of connecting everything together effectively, it’s not something that just comes together overnight.
However, we’re willing to do it because we know that the work we put in on the front end can seriously pay off in the long term.
Or does it?
The Biggest Sales Funnel Mistake You Can Make
In a perfect world, you would put up your brand new funnel and everything would work just as planned.
Your opt-ins are converting well beyond the industry average, the sales from your tripwire all the way to your core offer are exactly what you expected and people are opening up every email along the way with pure excitement because your worlds are just that magical.
Except, we don’t live in a perfect world.
And when you take actions that show you expect everything to be perfect the first time around, you create a cycle that costs yourself money (and time) instead of generating it.
The cycle looks like this:
- Create the funnel.
- Promote the funnel.
- Not see the sales the want.
- Decide the funnel is broken.
- Build a new funnel.
Rinse and repeat until they finally get it “right.”
Except, the expectation is never met there’s no such thing as the perfect one and done funnel.
Just like the best well oiled machine, your funnel will have spots that need both repair and maintenance along the way.
So, instead of tossing that funnel in front of you, let’s see how we can actually get it to perform more effectively by finding and fixing the leaks.
What Numbers You Need to Know in Order to Identify a Sales Funnel Leak
Knowing your numbers is everything when it comes to your sales funnels.
How else can you know what’s working and what’s not?
In The Collective, I provide the documents I use in order to track the entire process of each funnel and here are some of the most important numbers I’m looking for:
The amount of people your opt-in is being put in front of. This could be organic and/or paid traffic.
2. Landing Page Conversion %
This is the page that they are hitting from your organic and/or paid promotion of your opt-in and will be entering their email on.
3. Tripwire Conversion % (if applicable)
– A tripwire is a low priced offer that is used where a thank you page would typically be. Once someone opts into your list, they would get 15-20 minutes to take you up on this special offer, that relates directly to your opt-in. This can help you liquidate your ad spend and start the buying relationship early.
4. OTO Conversion % (if applicable)
An OTO is a one time offer that shows after someone has purchased your tripwire offer. This is an additional way liquidate your ad spend, beyond the tripwire.
5. Core Offer Conversion %
This is the offer you want to lead them to in your funnel where they are getting the full solution.
How to Put Your Sales Funnel to the Test
As every business and industry is different, I’m going to base the stats below on industry averages.
Sales Funnel Leak 1: Traffic
People aren’t clicking on your opt-in to get over to the actual landing page.
Industry Average CTR: 3%+ (paid traffic)
- Potential Traffic Issue: Copy
Something isn’t connecting with the copy you are using to promote your opt-in with. Is it hitting their specific pain points/struggle? Do they know what’s in it for them (the end result of consuming your opt-in)? Is there a clear call to action?
- Potential Traffic Issue: Audience
This can be especially true if you getting organic traffic. Is the audience you’re in front of and sharing your opt-in with, one that will specifically connect to what you are offering? If this is paid traffic, this is the time to test different audiences and also explore the previous potential issue with the actual promo copy.
Sales Funnel Leak 2: Landing Page
People are clicking on you’re your opt-in link but not signing up for the opt-in, once they get to the landing page.
Industry Average: 20-40%
- Potential Landing Page Issue: Copy and Images
Does the copy on the landing page align with the copy from the promo text or does it switch over to a different focus? On the landing page, I always suggest keeping it simple and using the same wording you have on the promo copy.
The same goes for the color scheme of your landing page. You want their mind to easily connect that this is a continuation of the conversation they were just having with you when you promoted the opt-in.
Sales Funnel Leak 3: Tripwire
People are converting on the landing page but not taking you up on your tripwire offer.
Industry Average: 1-5% of opt-ins
- Potential Tripwire Issue: Relevance
Does your tripwire offer answer the next logical question they will have to the topic your opt-in covers? A tripwire is an amazing way to create a powerful first buying impression and should be created specific to that opt-in vs a general one used for everything.
- Potential Tripwire Issue: Urgency
Is this something they could get at this price at any time? Adding a timer to this page that offers a discounted rate for only a limited time is incredibly helpful for this stage. Of course, with integrity as well. This should be a true evergreen timer (I use Kartra for this… and everything funnels!) that will redirect them to a full priced page once it is up.
Sales Funnel Leak 4: OTO
Your tripwire is converting but people aren’t taking you up on your OTO.
Industry Average: 3-10% of tripwire purchasers
- Potential OTO Issue: Relevancy
Is your OTO a natural step up from your tripwire? I like to always think of each step of the funnel solving a new fear or hesitation that will come up. Once they grab your tripwire, what will they then need to know how to do?
Sales Funnel Leak 5: Core Offer
Everything is going great up to this point but they’re not buying the actual core offer.
Industry average: 1-5% (cold audience) or 10-20% (warm audience)
This can be trickiest leak to navigate because there’s so much that can change from one funnel to another, by the time someone hits this point. However, it’s also 100% worth your time to identify and fix!
- Potential Core Offer Issue: Opt-In
Does this offer directly relate to what they opted in for? If it’s in a funnel, I am under the assumption that it has already been launched and sold to a warm audience (see Is Your Offer Ready for a Funnel for more on this). If so, we want to make sure that those coming in for this opt-in are already being qualified for this offer.
- Potential Core Offer Issue: Email Open Rates
If they aren’t opening the emails in your funnel then they can’t see your offer. Just think about how much more profitable you would be if there was even a 5% increase in your open rates of a funnel that was converting! Average open rates are around 20-30%. If you are seeing emails under that, test your subject lines.
- Potential Core Offer Issue: Email Click Rates
So they’re opening the emails (yay!) but not clicking to the sales page (boo!). This tells me we need to create more curiosity and need within the copy of the email itself. This could be experimenting with keeping the price out of the email, tapping into the real result they want more and/or sharing testimonials that connect with where they are now.
- Potential Core Offer Issue: Urgency
Is it clear why they should get this NOW vs later? This could be through special bonuses, a pricing increase or cart closing.
DID YOU FIND THE LEAK?
Let me know below in the comments where you’ll be focusing your efforts in order to plug the leak for yourself!