Generating leads and converting them to sales is the heart and soul of a business. If people do not buy your stuff, you are dead in the water. If you cannot generate leads, you cannot make sales. Simple as that.
Now, like everything, the lead-to-sales process has evolved. However, many businesses have not evolved with it. That’s what this post is about: Enlightening you about this evolution and showing you the metric you should be tracking to avoid losing millions.
But before that, let us talk about:
The Fractured Lead to Sales Process
Now, the traditional three-step funnel comprises:
- Opt-in pages
- Sales pages
It works. But it also has its limitations. For one, It’s a multi-step process that takes your prospect through more steps than they would like to access and/or purchase your offer. Each step within this funnel is like a stop sign and creates potential breaking points for each and every segment of your business. They are not as efficient as they should be either.
Think about this — your traditional opt-in page converts at an average of only 20%. What this means is that for every 100 visitors to your page, 80 people will hit this brick wall page. This wall is preventing you from making 80% more offers. It’s like you’re paying an 80% tax for every single visitor that reaches your lead magnet or registration page
These numbers are poor, but it’s the reality of businesses today. It’s what the process can deliver. But there may be a better way.
The New and Improved Sales to Lead Process.
The sales to lead process has evolved from a 3-step funnel to a single video funnel.
More than half (53%) of marketers say that webinars are the top-of-funnel format that generates the most high-quality leads. (Source: Demand Gen Report) Also, several statistics show that users watch a video before making a purchase decision. So, picking webinars to be the single sales funnel makes sense.
In-video conversion is a technology that makes it possible for the 3 step process to be merged into one. With this technology, marketers can now incorporate the opt-in page and even the purchase channel right into the video/webinar. Our software, eboov, employs in-video conversion technology to create a single video sales funnel to solve the leads to sales complexity.
- A 50% to 70% lead conversion on 100% of the traffic on a single video funnel.
- Above 50% open rates and over 42% click-through rates on every single video.
- Increased email open and click-through rates, which has a direct impact on increased sales conversions.
- A massive increase in video watch time.
- Significant decrease in lead cost.
It’s easy to see that in-video conversion is the future.
The Million Dollar Metric
Now that we have seen the evolution of the leads to sales process. There is a metric that you should be tracking in order to not lose millions like other businesses.
For this, we will use sports analogies. If you are a basketball fan, you probably know who has the most shot attempts in NBA history? It’s Kareem Abdul Jabar, and he took 28,307 shots. Now, a question for you. Do you know who has the most points in NBA history? Well, to no surprise, it’s the exact same person, Kareem Abdul Jabar.
Let’s switch sports here. Do you watch any football? Do you know who has the most past attempts in NFL history? It’s Tom Brady with 11,317 past attempts and still growing. Do you know, as the most touchdown passes in NFL history? Yes. You guessed it. It’s Tom Brady with 624 and counting.
To help you further understand the point I’m trying to make, who’s in second place? Well, when it comes to the NFL in terms of past attempts, you got Drew Brees with 10,551 pass attempts. And guess who’s in second place and touchdowns? Drew Brees with 571.
Back to basketball. Who has the most shot attempt at points? Well, in second place, Lebron James with 26,802 and counting. And who’s second place? It’s LeBron James. These sporting icons and their numbers teach us a valuable lesson for a business and marketing.
More Offers Mean More Money
If you want to make more money, you have to make more offers.
The amount of money you make comes down to just one thing; It’s how many offers you make on a minute-by-minute basis. One thing that I’ve noticed with every single business that has amazing results, the ones that are earning eight and nine figures, they make a lot of offers.
So, the number one metric 99% of businesses fail to track that’s costing them millions is their offers.
eboov is not just about the amazing video hosting software. It’s about the proven system that makes your sales funnel simpler and your sales process a lot more seamless.
For example, if you host videos on websites like YouTube, Vimeo, or Wistia. If you use webinars and VSLs to sell courses or products online, you probably want to protect your content from pirates. eboov allows you to host your content and protect them with DRM (digital rights management.
eboov lets you incorporate your opt-in form into your webinar, and make sales directly from your webinar. We have taken the ‘top-of-funnel format that generates the most high-quality leads’ and transformed it into a one video sales funnel. Most importantly, you can track your million-dollar metric.