Did you know that it cost McDonald's $1.91 in advertising just to get you into the drive-thru? When they sell you a burger for $2.09, they're only making $0.18. But when they up-sell you fries and a Coke for $1.77 more, they keep $1.32 profit, which is 8x the profit of the initial sale!
Pretty cool, don't you think? But what does this have to do with you?
"Sales Funnel" is a marketing term that refers to the buying process that companies lead customers through when purchasing products. You're unlikely to be selling burgers and fries, but that doesn't mean that you can't apply McDonald's philosophy to your business, and use sales funnels to increase your profit margins.