As we continue to move through the 9 fundamental pillars of business, today we are going to talk about your sales and marketing funnel as well as your sales framework pillars.
Your marketing funnel sounds fairly obvious, and again, it is. This funnel is a combination of tools and strategies you use to advertise and bring your target audience into your business in order to generate a sale. Your sales framework is the exact techniques, methods, and processes you use to sell your product. They sound similar, but the nuances are different.
I am going to keep this high level here.
The funnel pillar takes your ads, your landing page, your offer, your email marketing tool, and your payment processor and through the strategy you create, focuses on using those tools in synergy to generate revenue.
Your sales framework is exactly how you sell your product. Do you have tiered offers? Do you have seasonal products or percentages off? Do you do a buy one get one free promotion? What are your price points? Do you use sales letters and sales videos? The pricing, the packages, the offers, and the way you discuss those products is your sales framework. Even your guarantees and return policies are part of your sales framework.
These two pillars are usually where most people start in a new business, and I would agree that these two pillars are a great place to start when you are trying to generate revenue. The key here is to build out both pillars. There will be some trial and error, some failure and growth, etc. That’s perfectly fine.
You do need to build out these pillars though so you know what works, what doesn’t, what to change, what to keep, etc. This is where most new business leaders get it wrong. They just start throwing things against the wall to see what sticks, but they don’t focus on creating a strong pillar around what actually does work. This in turn, weakens their ability to grow.