So, just how much does it cost to build an online marketing or sales funnel?
In my last post, I provided a scenario on how a sales funnel can multiply the number of visitors, leads, sales, and higher ticket sales your business can experience, up to 72 times compared to your website! Surprisingly, the cost to technically build out a funnel and associated email campaigns is actually not very expensive.
You can, for example, use any number of software services to build a simple funnel and be up in a matter of hours.
But there are at least three other, more substantial costs.
First is the research and expertise to develop a winning strategy and funnel architecture, including crafting the right “splintered” offers.
Most newbies will get discouraged as they find out their offers are not converting at profitable levels, given the high cost of buying traffic.
There is both time and expense of getting expert training, and the time and expense of doing through trial and error.
So, if you are a busy business owner, manager or executive, or even an entrepreneur and you need results soon, or don’t want to spend time learning digital marketing and to experiment with your ad spend over the next few years, you should consider hiring an expert funnel consultant.
They can start you off with an expertly designed strategy and blueprint, and optionally build out your funnel and content. In looking around, the costs for professional strategy consulting ranges from $500 to $10,000 depending on the experience and reputation of the funnel consultant.
Then, you need all the right content that will educate, entertain, inform your visitors and subscribers while building trust and getting them to take action. This includes the copywriting inside your offers, videos, and ongoing emails. Lastly, there is the expense of buying the right, targeted traffic. All of these can be optionally handled by a funnel consultant or an agency.
The Cost to Build a Funnel with a Funnel Consultant
Based on my informal survey I conducted recently, consultants price strategy and build out separately or bundled together, which might range from $2000 to $15,000 for common B2C businesses, not including ongoing content or the cost of ads or other traffic. Now that might seem like a lot, but compared to what a successful funnel can do for you, it can be a very reasonable investment. But a funnel is not going to help you without targeted traffic.
Traffic / Ad Costs.
You could spend as little as $10 a day on Facebook to test things out. But some experts have recommended starting at as much as $1000 a month for at least one month if you have a more complex funnel, in order to get enough data to test if your funnel up-sells are converting at the proper rates. It’s hard to know if a funnel is broken if there isn’t enough traffic and data coming in.
At that volume, you can optimize your funnel and scale your ads up or down. You can buy ads yourself, use your funnel consultant, or hire an agency.
Initial and Ongoing Content Costs
Content is what makes up your ads and offers. It’s what goes in the 2-3 emails and blog posts you should be sending out every week. It makes up your social media accounts including your YouTube channel, and your information products if you have one. If you’re doing high ticket items, it’s also the work to create a webinar.
Some consultants will include basic content in your offers (sales pages) and initial email campaign in their build-out quotes. But you’ll probably need content on an ongoing basis.
Depending on the type and size of your business, you may want to create your own content in-house, on a weekly basis. This means dictating or writing content and/or shooting videos (even cheap ones on your mobile device if appropriate) on an ongoing basis. A key is to make this fun and enjoyable for both you and your subscribers.
But if you don’t have time to create all your own content, a funnel consultant can help you.
Here is a summary of costs, you might expect when hiring a Funnel consultant:
Total Sales Funnel Costs
Up Front Costs
*optional but recommended
|*Pro Research, Strategy w/Offers & Ad Plan||$500 to $10,000|
| Funnel Technical Build-out & Software
||$100 to $5,000|
|*Pro Content in Funnel, Emails, Social, Videos||$400 to $100,000|
|Total Upfront Costs
|| $1000 to $115,000
|*Maintenance & Optimization fees (optional)||$250-$1000+/mo.|
|Traffic – Ads||$300++/mo.|
How to Lower the Risk & Cost of a Funnel
Because there is a lot of skilled work involved, a well-designed funnel can cost quite a bit to set up and maintain if you need professional strategy and content development. A good funnel consultant, if they like your industry, mission, and products, may see the upside of partnering with you on the back-end.
Because of the demand for funnels consultants and the work involved, they won’t do your research, content and build everything for free, but may offer a significant discount on their work in exchange for healthy percentage of revenue generated by the funnel, sometimes with caps and time frames, provided you are committed to ad spends and other stipulations.
In summary, sales funnels can multiply the number of leads and sales revenue you achieve. They are almost required for most kinds of paid traffic. But to work well, they require a well researched strategy and plenty of targeted content and paid traffic. Funnel consultants can help you get there and some will even share the risk with you.
Bob Allan is a software entrepreneur, digital marketer and funnel consultant with scalefunnels.com. Scalefunnels can help you lower your risk and validate your funnels incrementally. Get a free funnel consultation and quote for your own sales funnel at scalefunnels.com