Propel Your Business by “Spying” on Successful Funnels
Growth hacking is about leveraging existing secrets, practices and technologies to propel your business. It is about using the effort that would have otherwise been expended on re-inventing the wheel to accelerate your business growth.
Why re-invent a funnel if your competitor’s funnel exceeds your expectations?
It will be a damn daft thing to do so.
Instead, spend more effort on innovating the already performing funnels.
The great thing about hacking into competitors’ proven performance is that you are able to study their weaknesses and thus be able to come up with a funnel that not only hacks into the already proven performance but optimizes on outcomes.
However, for you to come up with a sales funnel that will not only ride on the already proven performance but also highly optimized for a higher level of accelerated performance, you need carry out a thorough and incisive analysis.
The 5 Big Hacking Steps into Your Competitor’s Money-Making Machine
Stop building capital and start making money. Hacking is the big secret. Start gathering intelligence of your competitors’ sales funnel so that you can clone it and perfect your own copy.
The following are Big 5 Hacking Steps that will enable you to carry out structural and performance analysis of your competitor’s sales funnel:
1. Use Hacking- and Analytics Tools
SemRush, AdBeat, and WhatRunsWhere are great tools that give you a quick insight into the competitor’s sales funnel keywords. Keywords are the king of SEO. If you get to know the competitor’s keywords, you’ve already hacked into the funnel’s intelligence. All that waits is for you to optimize on this intelligence by using your copywriting skills to blend them into powerful content.
The great thing with these tools is that you can easily run a quick analysis of the competitor’s organic and paid keywords.
There are more advanced tools that can enable you to carry out a comprehensive site audit. This way, you not only learn about the funnel’s intelligence but also the entire mechanics that actualize it. Plus, you can be able to learn more about its enabling environment.
Backlinks and ads are a part of the funnel’s enabling environment. The great thing with these tools is that once you hack into your competitor’s funnels and innovated them for your own gain, you can run the same tools to perform an audit of your very own funnels. This way, you are able to fine-tune your innovated money-making engine for optimum utility.
One of the best performance audits is the comparison audit. You can compare your innovated sales funnel against the hacked sales funnel to see whether you have actually improvised on the hacked funnel or not. You can continue with this audit while continuing with innovation until you end up with a highly optimized and powerful sales funnel ready to beat the competition.
Another big advantage of the tools is that they are a going concern. This means that you can use them to keep on spying on your competition to see their very own innovation and how that innovation is impacting on their performance. This way, you are able to stay ahead of the competition for so long as you are ready to keep on innovating.
2. Audit Ad trails up to the Sales Funnel
Ads lead… Nowhere else but the sales funnel. Most of the times, searching for your competitor’s brand will populate the competitor’s ads on the SERP (Search Engine Results Page). If you cannot see the competitor’s ads on SERP, then, you can still employ tools listed above to find the ads.
Apart from the SERP, you can also watch out for the competitor’s ads in the social media network, and most importantly on the competitor’s own website/blog. You can also subscribe to the competitor’s email address so that you receive these ads in your inbox.
Once you have spotted ads, click on them one by one just like any other prospective lead. Most likely, they will lead you to the landing page… where the sales funnel is. Now, study the landing page.
Audit the entire trail from the ad to the landing page. Analyze and record all your findings.
3. Pose as a Customer to get a First-Hand Feel of your Competitor’s Sales Funnel
Proceeding from step 2 above, follow through to the sales funnel. Go through the entire sales funnel process to the end. That means, buying the competitor’s product (if it is affordable).
After buying the product, you will have an opportunity to learn about your competitor’s campaign strategy, pricing strategy, Form-filling experience, Checkout experience, and after-sale service. This is a very important piece of information that will not only enable you to have a first-hand feel of their users’ experience but also carry out a most thorough and effective hacking.
As you navigate through your competitor’s sales funnel, have the following questions in mind to ponder about:
- How compelling is their sales copy?
- Do the competitors’ marketing messages advance their sales goals?
- Did I experience some pain-points while going through the sales funnel?
- Was the checkout process smooth and frictionless?
- Did they extend after-sales service? Was it great? Did they request me to leave a feedback? If yes, was their response to my feedback satisfactory?
- How does my SWOT analysis of the competitor’s sales funnel look like?
- What are the positive lessons learned that I should incorporate into my sales funnel?
- What are the negative lessons learned that I should work on to my competitive advantage?
4. Take Note of the Entire Package and Offer
Price points, upsells, and downsells are the must-not-forget things to look out for while navigating through your competitor’s sales funnel.
The following set of questions will help to remind you of these:
- What is the great secret to the effectiveness of their price packaging?
- What value addition do they use to scale up their package tier?
- How does the value of the existing pricing points get impacted by the downsells and upsells?
Carry out a thorough analytical review of the answers to the above questions. Most importantly find out how these answers impact on the competitor’s lead conversion process.
5. Step out to the Next Step Forward
Now that you have exited your competitor’s terraces, you are back to climbing your own terraces.
Now, innovative work begins. You have to utilize the SWOT analysis gathered from step 3 plus intelligence gathered in Step 4 to craft your own sales funnel.
Since the path has already been paved by your competitors and the big journey undertaken, you don’t have to re-invent the wheel… and neither must you repeat the journey. Instead, use the effort to go the extra mile ahead of them.
Just remember that YOU ARE NOT COPYCATING BUT GROWTH HACKING. Come up with a sales funnel that uniquely accentuates your brand. Don’t let customers who have gone through your competitors’ sales funnels feel as if they are incarnating their previous experiences through your sales funnel. Make it unique and better.
Remember, you are stepping out of the competition to an extra-mile ahead.
As part of growth hacking, split test your entire sales funnel instruments – right from the ads to the landing page; from sales page to the order page; and from checkout page to the feedback page… among others.
Talk about split testing and ClickFunnels pop-up to mind. Again, you don’t have to painfully reinvent the wheel when ClickFunnels offers you a painless hassle-free way to split test your sales funnel.
All you need to do is to simply log in to ClickFunnels Account. After login, select your preferred sales funnel to test. Click on Create Variation to choose the sales funnel step that you want to test its variation. Beside the original sales funnel, you can have two splits to test against it.
And this is how far your competitors have given you a free ride to beat them up!