How To Create A Sales Funnel for Your Cannabis or CBD Business
Now that you know what a sales funnel is, how it works and what it can do for your cannabis or CBD business, I’m pretty sure you are pretty stoked about the whole thing. And now you want want one to so let's see how we can create a sales funnel. You might be worried that it seems complicated, but don’t. It’s a reasonably easy process. Here I’ll show you step by step how to create a sales funnel for your online cannabis or CBD business or web shop.
So without further ado…. Let’s take a look at how to build and create a sales funnel, and do it fast.
Create A Sales Funnel - Step 1: Analyze Your Audience’s Behavior
It might seem like marketers beat this tired old drum forever and half a day. But, knowing your audience and having solid buyer personas is key to a successful anything marketing related and the same goes for a sales funnel. You’re not marketing to everyone and their dog. You want to attract and engage with people who are a good fit to not only what you have to sell, but also jives with you and your cannabis or CBD brand as a whole.
The more you know about the people who you want to reach, the more effectively you can design and tweak your sales funnel and the more effective it becomes.
For instance, data points that will help you build and refine your buyer personas include things like:
- Where they hang out
- How much time they spend on a particular pages
- What they find interesting
- What their needs are and;
- How you can help them fulfill those needs
Create A Sales Funnel Step - 2: Capture Your Audience’s Attention
The only way your sales funnel will work is if you can attract people to it. That means also means that creating regular content and putting it in front of your target audience everywhere they hang out is a crucial step in creating a sales funnel. You can do this by posting your content across your different social media platforms, newsletters and brand channels. If you have the time and resources, it’s also a good idea to diversify your content type by creating infographics, videos and even podcasts.
Also, don’t forget to add a call-to-action (CTA). There is no point in creating fabulous content that piques the interest of your audience, if they don’t know what to do next. Good content always has an aspect of good copywriting too.
Create A Sales Funnel - Step 3: Build a Landing Page
Your content has done its job and you have now have a prospective customer that is engaged and interested. The click on your CTA button and now what? Do you send them directly to your web shop? Or is it better to have them connect to a landing page where you tell them a bit more about yourself and they get to know you a bit better and build a level of trust? At the end of that you might even want to throw in an irresistible offer to entice them enough to seal the deal.
Trust me, it’s the second option. The people who are this stage are still in the exploration phase and pretty low in the sales funnel meaning that, not only are you by any means guaranteed to make that sale yet, if you start pushing now, you are likely to put them off completely. That is why, when creating a sales funnel, a large part of what you do should focus on capturing leads instead of pushing the sale.
Your landing page should be designed in such a way that it steers your prospect towards taking the next step. You can do that with a bold call to action that tells them exactly what to do, whether it’s downloading a free e-book or watching an instructional video.
Create A Sales Funnel - Step 4: Create an Email Drip Campaign
The thing is, 96% of visitors who come to your website aren’t ready to buy (Marketo) - at least not yet. You need to nurture these leads if you want to turn your website visitors into a loyal customer before they bounce.
Research shows that brands that take lead-nurturing seriously, generate 50% more sales-ready, while nurtured leads make 47% larger purchases than non-nurtured leads (Invespcro). Newsletters and email marketing campaigns is the lifeblood of lead nurturing so don’t be afraid to provide your leads with amazing content via this medium.
But, not any old content will do either. What you want is for it to gently build up to the sale by educating your prospect. Create and design your content around the following questions:
- What do they want to know most about?
- What are the problems and issues they are facing right now?
- What are their fears and objections?
- What information can you provide them to address these questions?
- What value do you provide that will help convince them to purchase from you?
You also want provide them with a piece of content that will inspire your leads to act. When creating your sales funnel, this is usually in the form of an incredible offer at the end of your drip campaign.
Create A Sales Funnel - Step 5: Keep in Touch
Remember how I said that 96% of people that come to your website are basically browsers and not ready to make a purchase? Most marketers agree that it takes somewhere between six and eight interaction between yourself and a prospect before they will become an actual “qualified” lead. That is why it is important to stay in touch and do so regularly. But also keep in mind that you don’t want to spam them either - one or two emails a week should enough.
You should also not forget about your existing customers either. When creating your sales funnel, try to incorporate a system that includes consistent and continuous reaching out to all your customers, both new and old. Thank them for their purchases, offer additional coupon codes, and involve them in your social media sphere.
Create A Sales Funnel - Step 6: Analyzing and Monitoring the Success of Your Sales Funnel
In my experience, very few things work perfectly off the bat. Similarly, as you and your business grows, the cannabis market matures and your audience changes, your sales funnel will probably need a few tweaks as you go along to stay effective. Pay special attention to each stage of the sales funnel:
- How many people sign up for your email list?
- What are the clickthrough rates for your emails and/or landing page(s)?
- How many of the people who clickthrough actually make a purchase?
- Do existing customers come back and buy from you again?
Knowing the answers to these questions will tell you what’s working and what’s not as well as give you indications as to where you need to tweak your sales funnel.
A great way to measure the effectiveness and success of your sales funnel is to track, monitor and analyze your conversion rates. To calculate a conversion rate, you need to know what you’re trying to measure and having clearly established marketing goals, and translating those into quantifiable website metrics is key.
So, to calculate your conversion rate, all you need to do is divide the number of “marketing goals” (e.g., email opens or landing page CTA click throughs) achieved in a given time frame (e.g., a month) by the total number of visitors to your website. Then multiply that number by 100.
Conversion rate = Landing page CTA click throughs / Total visitors) * 100
So if your landing page had 15,000 visitors and of those and 3,000 took a desired action, then your conversion rate is 20%.
As these things tend to go, there’s no simple answer. A good conversion rate when it comes to emails and newsletter is different for brand, product and business model. It also very much depends the type of email you sent. As far as landing pages go, generally speaking, a good conversion rate is around the 12% mark.
How to Optimize Your Sales Funnel
How you optimize your sales funnel is up to you and there are a wide variety of different ways you can choose to do so. But, in my experience, the most important place to aim your focus at, are the areas where your customers move from one point to the next in the sales funnel as this is the entire purpose of your sales funnel - moving people through the purchasing process.
Some of the ways you can optimize your sales funnel include:
- Create your content for different buyer personas at different stages in the sales funnel. Even if the topics end up looking very similar, the objections, answers and information will be different for each.
- A/B test your landing pages and email campaigns. Change up your language, imagery, offers, and layouts to figure out what your audience responds to. Although it takes time and effort, you will end up reaching more of the right people and make more sales reliably and consistently.
Take the time to build your sales funnel and make sure it represents you, your brand but importantly also you ideal customer. But most importantly cultivate it over time. Pay attention to the details. Monitor and tweak along the way and carry on figuring out what works, what doesn’t and why. But in the end, when you start seeing the sales rolling in, you’ll know it was totally worth it. It’s also the only really way to survive the increasingly competitive cannabis and CBD markets.
INTERESTED IN SOME MORE AWESOME IDEAS ON HOW TO GET YOUR CANNABIS OR CBD BRAND AHEAD OF THE CROWD? CHECK OUT THESE ARTICLES TO GET YOU STARTED
- How to Repurpose Content & Why You Should for Your Cannabis or CBD Business Blog
- 5 Reasons Why You Need to Create Regular Content For Your Cannabis or CBD Business Blog
- 5 Blogging Mistakes Cannabis & CBD Brands Make & How To Fix Them
- 6 Benefits of Blogging for Business
- Creating The Ultimate Content Calendar for Your Cannabis or CBD Brand
- How to Create a Content Marketing Strategy in 2020 for Your Cannabis or CBD Brand
ABOUT LIEZE BOSHOFF
Lieze, is the founder of LBC3 Marketing, a leading content marketing and copywriting consultancy, working exclusively in the cannabis industry.
Lieze is a passionate and data-driven content marketing consultant with over 3 years of medical cannabis and CBD industry experience. Working with a wide range of brands and businesses globally, Lieze specializes in helping her clients get clear on their content strategy, creating educational and engaging content, and crafting conversion-focussed copy that resonates with their ideal customers.
If you're ready to see the impact a strategic Content Marketing plan and well-crafted Copywriting can do for you and your cannabis or CBD business, take that first step, contact her here for a free consultation.
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