Brief Summary
This podcast episode discusses the importance of sales funnels and how they can be used to convert strangers into paying customers. The speaker, Jonathan Courtney, explains the difference between websites and funnels, emphasizing that funnels are more focused and effective at driving conversions. He shares examples of successful funnels he has built, including a 20 million dollar funnel, and highlights the importance of using a "Most Incredible Free Gift Yet" (MIFGY) strategy to increase conversion rates.
- Funnels are a step-by-step process for converting strangers into paying customers.
- Websites are like brochures, while funnels are focused on driving conversions.
- Ugly funnels often convert better than aesthetically pleasing ones.
- The MIFGY strategy involves offering free gifts to increase conversion rates.
Intro
The episode begins with a brief introduction, highlighting the importance of funnels and the guest speaker, Jonathan Courtney, who has built a $20 million funnel. The speaker emphasizes the potential for funnels to significantly increase conversion rates.
Sales Funnels Explained (Websites vs Funnels)
Jonathan explains the difference between websites and funnels. Websites are like brochures, providing information about a company but not necessarily driving conversions. Funnels, on the other hand, are focused on guiding visitors through a specific process to become customers. He uses his company's website as an example, contrasting it with a funnel designed to generate leads and book calls. He argues that websites are not typically effective at selling high-ticket items and that funnels are a more efficient way to convert visitors into customers.
Ugly Funnels Convert Better!
Jonathan emphasizes that funnels don't need to be aesthetically pleasing to be effective. He shares examples of his own funnels that have generated millions of dollars in revenue despite having a "scrappy" look. He explains that the focus should be on compelling copywriting and conversion optimization, rather than design. He contrasts a visually appealing landing page with a more text-heavy, "ugly" funnel, highlighting that the latter has been significantly more successful.
The Magic Formula and Example 1
Jonathan introduces the "magic formula" for building a successful funnel: Facebook or YouTube ads leading to a focused landing page with a single call to action. He then walks through an example of a funnel he has been running since 2020, which involves a Facebook ad targeting people interested in specific books related to the facilitation industry. The ad leads to a landing page offering a free one-hour training session that provides an overview of the company's services and encourages viewers to book a call.
What Businesses Should Use Funnels
Jonathan discusses the types of businesses that can benefit from using funnels. He emphasizes that funnels are particularly effective for bootstrapped businesses that need to maximize their return on investment (ROI) from advertising. He suggests that funnels are not ideal for large corporations with significant funding, as they may be able to rely on branding and a large sales team. He highlights his expertise in building funnels for training businesses, both in-person and online, and for agencies looking to secure high-ticket projects.
Example 1 Continued
Jonathan continues to explain the details of the funnel he introduced earlier. He describes how the funnel uses a typeform survey to add friction and qualify leads before they can book a call. He explains the importance of limiting call bookings to a few days in advance to ensure that leads are genuinely interested and more likely to show up. He also mentions that the funnel uses email marketing to follow up with leads who have not watched the free training video.
Pixeling + Retargeting = Marketing Gold
Jonathan explains the importance of using Facebook pixels to track user behavior and retarget them with ads. He provides an example of a funnel that uses a YouTube video to drive traffic to a landing page offering a free template. The landing page has a Facebook pixel installed, allowing the company to track users who visit the page and show them ads for other products or services. He emphasizes that this strategy allows them to reach users even if they don't provide their email address.
Example 2: Book Funnel
Jonathan introduces another type of funnel: the book funnel. He explains that offering a physical book is a highly effective way to collect leads and drive conversions. He shares an example of a book funnel that has generated hundreds of thousands of downloads and physical copies sold. He describes how the funnel uses the book as a lead magnet to collect email addresses and then guides users through a series of steps, including a free training video, to ultimately sell a paid course.
The MIFGY Secret (Most Incredible Free Gift Yet)
Jonathan introduces the "Most Incredible Free Gift Yet" (MIFGY) strategy, which involves offering free gifts to increase conversion rates. He explains that this strategy is widely used by companies like AG1 and Eight Sleep. He provides examples of how this strategy can be implemented in different contexts, including offering free licenses for a software product or printed versions of a workshop. He emphasizes the power of the free gift concept and its ability to dramatically increase conversion rates.
