Scott Oldford has been an entrepreneur for a long time but in 2013 he was on the verge of ruin and 726 thousand dollars in debt so he decided for a new business model.
He spent his time creating a video course which he made available on the internet under the name LeadCraft.
Scott talks about funnels which many people know by using Facebook ads for what their offer which brings the customer to a landing page where they get the customer’s email and use it for email marketing with the goal to sell.
Scott says this doesn’t work anymore because millions already use Facebook advertising and because of this Scott recommends the SSF method (Sidewalk, Slow lane and Fast lane), which he calls improved funnel.
According to this method, we have three different types of people in funnels:
- Sidewalk: people don’t know they have a problem, they aren’t ready to buy, and they don’t care about you. Your goal is to spark their interest by showing them that a problem exists.
- Slow lane: people are aware of their problem and search for new knowledge, but aren’t yet ready to buy, although they are ready to build trust with a brand.
- Fast lane: people are aware of their problem, they want to buy and are solution-oriented.
According to Scott, we have to use three different approaches with our sales funnel and adapt the strategy to these findings. It’s not enough to have only one lead magnet (useful content which we give for free in exchange for a certain action, for example, the customers entrusting us with their email address) but it’s very important to create a separate lead magnet for each type of people (sidewalk, slow lane and fast lane).
Using Scott’s SSF method in practice:
Have at least 2 different contents and a few different lead magnets, and 3 landing pages, email automations and ways to get customers. Lead magnets which Scott recommends for sidewalk is, e.g. a manual which should be six to eight pages long. For slow lane, it should be longer, for example, 30 pages or three videos, e.g. 15 minutes long. For fast lane use a webinar or a longer video. On landing pages, the average conversion is 3 to 10 percent. Scott says you can get 20 to 40 percent conversion in the sidewalk, 40 to 60 percent in the slow lane and 60 to 85 percent in the fast lane. So, it’s important to have different landing pages because you reach higher level of conversion. In the sidewalk, the landing page must be as short as possible. You have 7 second to attract customers. In the slow lane, it can be a bit longer and should have a title, subtitle, social proof and more information than in the sidewalk. You have between 10-13 seconds to attract them. In fast lane, the page is still short, but it contains even more information and 3 to 5 benefits. Each landing page must be suited for the type of buyer.
Use email automation where you have more possibilities:
- build value: with a blog
- show authority: show authority with what you know or with social proof
- build a relationship: build a relationship by asking questions
- sales: sell with promotional emails
In the sidewalk use emails which will show customers they have a problem, in the slow lane, the aim is to educate and show yourself as the authority to solve the problem they have. In the fast lane, the aim is that the email recipient becomes your buyer.
Methods for getting traffic which you use according to the type of buyer are:
- sidewalk: Facebook ads, different groups, etc.
- slow lane: retargeting Facebook ads, organic and paid Google search, affiliate marketing, etc.
- fast lane: retargeting ads, endorsements, etc.
The more the product or service you offer is complex, the more times you need to present how it works to potential buyers. Goals of the funnel is to turn visits into conversions and then buyers. Types of conversion methods according to Scott are online webinars, video sales letters or web sales letters, online shops, telephone calls, seminars, etc.
Scott advises you to follow these rules in selling services and their prices:
- If the price you are offering is under 200 dollars, use a sales page or a video sales letter.
- If the price is between 200 and 1000 dollars, use a webinar.
- If the price is over 1000 dollars, use, for example, a seminar.
You can create more profit if you increase your buyers’ life-time value. In Scott business, the average life-time value of a buyer is 3,491.20 dollars while the first purchase is 997 dollars.
I also recommend Scott’s blog Infinitus.