Friday, April 19, 2013

Day 23 – WorkStep Eleven: Sales Funnels - What Will Yours Look Like?

I’ve been hit with a lot of discouraging news lately: some of it is personal, some of it is business. However, I was speaking on Skype in Sydney with Basil in Japan last night, sharing some of this, when he asked:

“Do you want to hear some encouraging news from Tokyo?”

God bless him, I thought: “Yes I do!”

“Our conversion rate in BC Basic is shooting past 50% this month.” That is a song to a businessman’s ears. Wow. I had my own ideas why this was so, but still I asked:

“Why do you think?”

I asked, because we track this metric meticulously at BodyChance. By “conversion rate” we mean: how many of the people who come to our studio for an Introductory Talk actually decide to take up membership in BC Basic, our public learning program?

50% conversion means half of them do – that is amazing. So why?

Basil: “We are getting clearer on how to close them. We’ve discovered three steps we need to take them through. And Kentaro now does the follow ups.”

This is a description of a critical moment in BodyChance’s sales funnel, and you need to think about the design of yours.

How Is A Sales Funnel Different From Your Website, Flyers, Or Networking Abilities?
A sales funnel is all of these and none of these – it is the equivalent of psycho-physical unity in marketing and sales, and you want to start thinking holistically about it. As you build your sales funnel, think panoramically, and think specifically.

Basil was sharing some specifity about the final third stage of BodyChance’s sales funnel – when we close the sale by gaining a new member.

A good sales funnel for Alexander Technique will pass through three essential stages: first, you want to draw them into your mail list; second, you want to craft messages that match their needs; third, you finally want to enroll them in your business as paying customers.

Stage One – Getting Them On Your List
How do you get people to join your list? You attract them through blog, flyers, websites, networking, events, fairs, articles, interviews, guest teaching, referrals: do all of these. What are you putting together to attract new list members?

Stage Two – Getting Them To Come To Your Studio
Under this heading are your auto-responders, special offers, announcement of events and invitations to introductions. And your personal story, and other stories. During this time, your new list members come to know you, like you and eventually trust you…

Stage Three – Getting Them To Sign Up
Alexander Technique is sold most powerfully belly-to-belly, which is what Stage Two aimed for: getting them in direct contact with you. But one they are in your studio, you need a detailed and systematic way to meet the various needs of each person who comes: convincing them that it is the right decision for them to become one of your paying clients.

How you got all this worked out yet?

TOMORROW: WorkStep Eleven – Sales Funnel for BCLA

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