Preparing to sell your business can be a very exciting time. You've put a lot of hard work into making sure that everything is perfect and ready to hand off to someone else.
However, there are going to be a few crucial aspects that you'll want to tweak before selling your high-converting sales funnel.
Now you might be wondering, what areas of my sales funnel can I tweak, and why does that even matter?
I'll be answering those questions and a whole lot more, so be sure to keep on reading.
The Importance Of Supercharging Your Funnel When Preparing To Sell
Let's take a few steps back first. Sales funnels have become very popular over the last few years thanks to many marketers and how they leverage them to build and grow their online businesses.
All in all, you know that a sales funnel is simply a path that you create (through landing pages) that allows you to turn your visitors into leads, or leads into sales. It all depends on the goal that you have in mind.
Related: example landing page
For example, your main goal, in the beginning, might be to turn as many relevant visitors into leads. This can be done with a simple two-step sales funnel that comes with a lead generation page and a thank you page.
Another big example, which I'll be talking about more in this article, is the ability to turn those leads into sales (and even more sales).
By why is making edits to your sales funnel so important when you're looking to make an exit?
Because making a few tiny changes to your sales funnel can significantly boost the overall valuation of your business.
As the popular quote states, small hinges swing big doors. The same is true when it comes to your sales funnel and being able to make more money from it when you finally exit your business.
Allow me to ask you a simple question to help really state my point. Would you rather...
- Prep your business to generate 30 leads out of every 100 visitors?
- Prep your business to generate 60 leads out of every 100 visitors?
It's easy to see which statistic is going to be much more attractive, and overall more valuable when someone is looking to purchase your business.
Here is one more simple question to really drive home the point. Would you rather...
- Make 4 sales out of every 100 leads.
- Make 6-8 sales out of every 100 leads.
Once again, when your sales funnel generates both more leads and sales, this will significantly drive up the evaluation of your business.
Now, you might be wondering how this can be done without a ton of time, effort, or extra money. Allow me to show you, starting with a very simple way to generate more leads before handing off your business
1: Cut The Cost Of Your Leads In Half
If you've watched Shark Tank before, then you've probably heard two of the most popular questions when it comes to purchasing or investing in another business.
- How much does it cost to get a lead?
- What's the lifetime value of your customers?
With this tip, you'll be able to generate many more leads from the traffic that you're already getting, and if it's done properly, you have the ability to double your business, allowing you to skyrocket your overall business valuation. Allow me to explain.
Previously we talked about how the two biggest goals for sales funnels can be generating leads and making sales. So if you're able to double the conversions on your lead generation page, you're cutting the cost of your leads in half, and keeping more money yourself.
That's exactly what someone wants to see when going to purchase a business.
Increasing the number of leads that you can generate comes from first-hand experience too, as I've been able to convert at a nice 75% when running Facebook ads to a lead generation page. Not too bad, right?
So here are the tips that I recommend you implement if you're looking to capture more leads from your squeeze page.
- Keep things as basic as possible by having just a plain white background.
- Keep everything above the fold so that your visitors don't need to scroll down.
- Make the process for taking action as easy as humanly possible.
And most importantly, make sure your visitors understand what they will be getting when they give you their email address. This is done through the use of a headline, and it's what you're going to want to split-test more than anything else on your lead generation page.
For example, let's say that the headline for your lead generation page is going to be "How I Consistently Achieve 75% Optin Rates", you're going to want to come up with another variation for you to split test.
Here are a couple of example variations of that specific headline.
- How I Generate 75% Optin Rates.
- How My Lead Generation Pages Convert At 75%.
While both of these headlines look similar in nature, how you state them can make a very big difference in terms of the conversions that you get. So make that you split-test only two headlines at a time and send a significant amount of traffic to each in order to find the winning headline.
While you're not guaranteed to immediately double your opt-in rates overnight, making these simple tweaks can certainly put in the right direction when it comes to generating more leads while you prep to sell your business.
2: Add An Offer Bump To Your Checkout Page
Video: [Official Training] How To Add An Order Bump In ClickFunnels | ClickFunnels
So what are you going to do with all of those new leads that you're getting at the top of your sales funnel? Provide them with an additional offer to purchase, of course.
This is one of the easiest ways to make more sales and increase the valuation of your business. Unfortunately, not many people are utilizing this tip because they either don't know how to pull it off, or they simply don't know anything about it.
This step is going to revolve around your checkout page (which is often referred to as a shopping cart) as well as an order bump feature. If you've never heard of an order bump before, then it's your lucky day.
An order bump is simply a way of providing an additional offer on your checkout page. To make things even better, your visitors will only have to check off a box for them to add it to their order.
So why is this such an important feature when it comes to maximizing the effectiveness of your sales funnel? Well, think about the benefits really quickly:
- You're offering an additional product.
- It's very easy for your visitors to take action.
- You don't need to create an entire sales letter for the product.
In fact, all you're going to need are a few lines in order to persuade your visitors into picking up your additional offer. I highly recommend that you make the offer as similar to the product that they had originally intended. If not similar, then something that is complimentary.
For example, if you are selling an eBook about how to create higher-converting squeeze pages, make the order bump offer a combination of the video and audio training that they can also purchase.
Do you see why this is such an important step when it comes to making more sales? It's both easy to implement as well as easy for your customers to purchase more from you.
All in all, an order bump allows you to do a few important things.
- Quickly add an additional offer.
- Make more sales from customers who are already going to purchase.
- Significantly increase the number of sales and the amount of revenue that your business generates.
Not leveraging an order bump is like leaving a ton of money on the table, especially when you're prepping to exit.
One more great aspect of the order bump is that it's not one of those features that you'll have to code or hire an expert to add to your sales funnel. In fact, most of the popular sales funnel platforms on the market already come with this helpful feature.
So you'll most likely just need to read up on a few tutorial articles or watch the video that I added at the top of this section.
3: Leverage One-Click Upsell Pages
This is yet another great way to increase the number of sales that you make from the leads that you'll be generating.
Before I continue, here is a scenario that I'd like to quickly imagine. Let's assume that McDonald's is going to be selling their business. I know, hard to believe, but let's just assume for a second.
What do you think would be the difference between these two scenarios?
- McDonald's never asks "Would you like fries with that?" after an order.
- McDonald's always asks "Would you like fries with that?" after every order.
The difference in the business valuation would be light night and day, and it's all thanks to a concept that's referred to as an upsell.
So just imagine how much money you're going to be losing out on when you go to sell your business without having an upsell in your sales funnel.
Upsells are even easier online because you can even have your customers purchase through one simple click of their mouse.
So how exactly does a one-click upsell page work? You're going to make another offer to your customers, and it's going to be through the use of a sales letter, video sales letter, or both.
When it comes to your customer's purchasing, they have two total options.
- Purchase the product with only one click of their mouse.
- Simply say no and move on.
As I stated in one of the options above, the beauty of these upsell pages is that your customers can make a purchase with only one click of their mouse. Compare that to the older way of doing things where your customers would have to re-enter a lot of information.
- Full name.
- Address and email.
- Credit card information.
So if you're looking to sell your business and you don't have a one-click upsell somewhere within your funnel? Make sure that you stop everything that you're doing and add one as soon as humanly possible.
Closing Words: About Advertising Your Business For Sale
So there you have it. Those are the three simple techniques that you can use to supercharge your sales funnel today, allowing you to really drive up your overall business evaluation.
Lastly, I'd like to state that these are increases that you'll certainly want to advertise when you finally advertise your business for sale. By stating that you've been able to increase your leads and sales is a sign of growth, and who doesn't want to see that?
Given the fact that profitable sales funnels are getting more and more popular by the day, it's important that you take advantage of this trend and maximize the effectiveness of your business while you can.