How To Build A Sales Funnel To Maximize Your Profits
Building a sales funnel is without a doubt one of the most important skills a marketer must have in order to build an online business. In this post I want to talk a bit about how to build a sales funnel.
To give credit where credit is due, Ryan Deiss from DigitalMarketer.com was the man who taught me my knowledge of funnels. I love reverse engineering other marketers’ funnels and product lines. That’s how I learned the importance of a funnel. After attending a webinar hosted by Ryan Deiss, everything made a lot more sense to me. 🙂
Watch a complete in-depth training video below.[sociallocker] [/sociallocker]
That being said, let’s move on and discuss the basic outline of how to build a sales funnel.[su_heading size=”24″ margin=”30″]First, The Lead Magnet[/su_heading]
You always want to start by giving away something away for free (Lead magnet) in exchange for the prospect’s contact details usually their email address.
This is so you could build your own email list which allows you to further communicate and build a relationship.
Don’t underestimate this step!
You ALWAYS want to make sure what you’re giving away is very valuable and of high quality that can benefit your leads. There are lots of forum discussions on the different types of lead magnets that you can create.
However, the most common ones are reports, eBooks, case studies, training videos and so on.
After you gain a commitment from your prospect, who has just given you their email, you can now sell something that is 100% risk free and irresistible.
An example is a product that may cost $5 and contains some very great information. It should be something that can help your lead immediately.[su_heading size=”24″ margin=”30″]Careful Not To Trip On The Wire[/su_heading]
Keep in mind that this offer is NOT where most of the money is being made. Ryan Deiss calls this the “Trip Wire” and it is designed to change the prospect from a freebie seeker to a buyer.
Remember that this offer can just be something like a 20 page eBook or a 10 minute video etc. As long as you deliver what you promised and it is of high quality, that’s all that matters.
After your prospect takes out their credit card and purchases the initial offer, you can present them with the main offer that you’re trying to sell.[su_heading size=”21″ margin=”30″]Enter The Main Offer[/su_heading]
Let me give you an example so this makes more sense.
McDonald’s is famous for their Big Mac combo meal, but they NEVER try and sell that in the front end. They usually advertise these special snack deals that can be something like $1 Cheese burgers or $1 apple pies and so on.
The reason why they advertise these offers is because it is literally irresistible, affordable, cheap and pretty much risk free. But once you step into the doors with the mindset of purchasing a $1 cheese burger, that’s when you start looking at the menu board.
You will be tempted to purchase the delicious looking Big Mac combo meal. I know this is a bad example but I hope you get the point. 🙂
What I’m saying is that once your lead trusts you and they have taken out their credit card and purchased something from you, that is the BEST time to sell them your main product. It can be anything like a membership program, software, coaching and so on.
Do you stop after they purchase your main offer?
“Would you like to upgrade to a large meal for an extra dollar?”[su_heading size=”21″ margin=”30″]Now, Time For The Upsell[/su_heading]
Next, we have the upsell.
This is where you want to sell another offer that compliments the main offer or enhances the prospect’s experiences.
It could be something like a software that automates the manual labor for them, a done-for-you service, your coaching services and so on.
An example is if your main product is about blogging, your upsell can be something like a done-for-you service where you build the blog for them.
From reverse engineering and buying countless of products in the past, I know that this is where most marketers place their high ticket offers to maximize their profits.
Again, I highly recommend you watch the video I have linked to above to learn this in more depth.
Now guys, before I end this post, I want you to think about this logically.
You have acquired a customer. They have trusted you and bought a product from you.
If you DON’T do what most marketers do and spam them with offers, but instead connect and build a relationship with them, they will be raving fans and continue to buy more products from you.
These are known as back-end sales.
This is where you can shoot webinars and sell high ticket programs, sell quality affiliate offers and so on.
In a nutshell, if you do not have a sales funnel in place, you don’t have a stable business, period!
I hope you guys take this information seriously and actually go out there and start building your sales funnel.
Feel free to leave a comment and tell me what you think.