Optimize your inventory management with our product sales funnel for Inventory

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- Finding it hard to get e-commerce sales? Well, we're about to change that. Hey everyone, I'm Neil Patel, and today I'm going to break down the best sales funnel for e-commerce. (upbeat music) If you have a e-commerce business that makes sales, whether you're doing it intentionally or not and you don't have a sales funnel, you're losing out on a ton of sales. A sales funnel is basically a journey that takes a visitor from becoming aware of your product to moving them through stages of your sales process and then becoming a customer. Hopefully that customer then can become a repeat customer and a brand evangelist and just start being part of your sales funnel and generating you more sales. So what is a very poorly fine tuned or poorly tuned sales funnel really look like? And I don't really consider this a sales funnel but this is what a poor version looks like. I hate to break it down for you but most e-commerce sites are this example. It typically starts with the ad, then they go to your product page, they add it to a cart and then boom, that's it. There's not really much more to it, and that's what really terrible funnels typically are for e-commerce and they just don't work that well. So what's the problem with this? Well, there's no guidance, no intention. Visitors will have to figure out a lot on their own. And most of the time they'll just leave your website without buying anything, which is why, well over 95% plus of your audience, they don't buy anything. When you're a huge brand like Nike, just throwing hundreds and thousands of dollars of ads in, actually they even throw millions, right? But let's say you throw in hundreds of thousands. It doesn't matter as much, but when you're a small mom-and-pop, you need to maximize the results. Because what big companies, people who spend hundreds and thousands, millions, or even billions like the Amazons of the world, they have brand loyalty. You and I don't have that, so we got to worry about a sales funnel. So let's dive into what a great sales funnel for e-commerce looks like. I'm going to focus on the funnel that works with paid traffic. The reason for this is that most people don't have the luxury of ranking really highly on Google for competitive keywords in their industry. So I want to give you something that's actionable no matter how much money you have. Especially when you're starting out paid ads is the easiest way to generate traffic and sales. In that scenario, the best type of sales funnel is a two step sales funnel page. The most important thing to know is you're going to be running ads specifically to one product. not multiple products, one product, all the messaging all the ad, creative, all the imagery should be about that one product, not multiple products, one product. The reason I'm emphasizing this is it's a huge mistake that people make. leave a comment below with how many products you're selling. Is it one, two, ten? Well, the ad we're going to have you run is for one product. Once people click on the ad, they should be sent to a page that isn't just a regular e-commerce product page. It should be about that product. You need a few elements in place in order to maximize the result that you're getting from the page. The first is strong social proof. This is impactful feature testimonials, star ratings, and even video testimonials. Not of people just opening up the box and getting your product, I'm talking about using it too, and a great product presentation. That means good photos of your product. 360 degree views, maybe in video showing your product. Compelling copy as well highlighting your best benefits of your product. Then you need, buy now call to actions on the top of the page and ask people, scroll throughout whether it's in the review section or after they read the product description, you need to show it there. You also need frequently asked questions on the page because people don't buy for a reason. What are they? call some of those people up. Hey John, why didn't you buy my product? And you can do this by talking to some people that you know and ask them to go through your site. Or you can just survey people when they're about to leave their exit popup. And you can just survey them. Now another important thing to be successful with this is a funnel that happens between the moment when a visitor adds this product to the cart and clicks a checkout. you'll want to have what's called an order bump which is basically an idea of offering an upsell that's related to the product, even before the visitor gets to the checkout. by having a order bump you'll be able to increase the average order value and increase the revenue that you're generating from this funnel. It very rarely decrease conversions. It usually increases your revenue by around four to six percent, so you should do this. You should try and use products that are a really good bundle with the original one that they're buying and is a really good deal. It has to be those things, good bundle and good deal. If it's not a good deal, it doesn't convert well. Now the next thing I want you to do is once they check out and they buy your product you collect the money right then and there you should have upsell that either gives them the results from the product faster or in an automated way. If they say no, give them another upsell literally have two right there. It could be subscription related, it could be speed or automation. You can try out any of those methods but then by having more upsell, you'll find that you won't really get tons more revenue. Even if you don't do a great job we see it adding at least 3% in revenue, If you have speed and automation. When you fine tune it, though most people are seeing a 10 plus percent lift in revenue. We add two more upsells that include speed and automation Everyone wants faster results and less time, right? They're buying your product to do something give them the results quicker, And in less time, if you do that your e-commerce page is going to convert better. If you need help optimizing your e-commerce site for conversions, check out my ad agency, NP digital. If you have any questions, leave a comment below. I'm here to answer it. Thank you for watching. Make sure you like, review, rate this episode, share it whatever you can to get me more reviews. I really appreciate it. And I'll try to keep creating free content like this.