I know that much of the Online Empire Academy community is focused on selling on Amazon and eBay, but you are going to have to bear with me.
I love online sales and marketing…
There, I said it. While I love selling on Amazon and eBay, I am far more infatuated with learning how to create sales pages, squeeze pages, copywriting, and so on.
There's just something about it that really gets me going.
I think the thing that I like most about it is that all of the skills that you've learned about selling on Amazon and eBay can be easily transferred over to creating an information product, online courses, and even other products or services. These information products can't be sold quickly and effectively without knowing best practices when it comes to Internet marketing.
So, whether you like it or not you are going to learn how to build a sales funnel to sell your future information products.
What is a sales funnel?
In 99% of real businesses, having a sales funnel is crucial for long-term success. So what in the heck is it?
Well… A sales funnel is the path in which someone who was once a stranger becomes a customer, and then becomes a repeat customer.
You see, one problem that a lot of people who try to sell products and services have is that they don't know how to present all of their products and services in a organized and meaningful way to people.
With a sales funnel you are able to give potential customers and actual customers what they want, when they want it. That means more sales for you and less time being wasted.
Why have a sales funnel?
Look, you never want to leave money on the table. By not having an organized way for people to be introduced to your products and services in some way or another you are doing yourself and your customers a dis-service.
- You have multiple types of people who are coming across what you have to offer.
- You have those who just want something for free, who may or may not by over the next few months.
- You have those who want to buy from you, but don't trust you yet.
- You have those who will buy from you that only want one of your products or services.
- You have those who want to buy from you, and want to continually buy from you as their need for information or as their need for your products and services become greater.
As you can see if you have a one size fits all solution – you are missing out on a lot of opportunities.
So let me give you an example of a typical sales funnel…
Your typical sales funnel look something like this in order of lowest priced item to greater:
- A free lead magnet (e-book, course) to capture those people who aren't yet ready to buy. Typically done through an opt-in using something like Aweber and gets prospects on your email list.
- A smaller and lower priced product or service, maybe a five video course.
- A midsized product or service, something like a group coaching product.
- A high-priced product or service – something like one-on-one coaching.
- A very high-priced product or service – typically something like a “do everything for you” service.
Doing something like this is going to lead to a few things.
First, the people who just want something for free are either going to stay in your free part of your sales funnel or after a while they may finally purchase something. No joke, we have had people who have been with us for two years on our email list who finally bought something from us within the last few months. (Some people just aren't ready to buy).
Second, you're going to have those customers who want your smaller priced products and are willing to execute on those products. Typically, they are satisfied at this stage and will not by further items. But that's okay though, your higher priced products might not be a great fit for them.
Lastly, you are going to have those people who just love everything about what you're doing and want to buy everything from you. They are getting a ton of value from your information or services and want to keep on getting that value. You get to build your business, and they get to reap the benefit.
Why have a sales funnel? Well, you can see very clearly that by having multiple ways for people to engage with you you are able to monetize effectively. If you were to only have one product then you would miss out on a ton of revenue.
Plus, you wouldn't be giving your customers wherever they are, what they want at the time that they want it.
If you are still asking yourself “why have a sales funnel?” God help you. Part of having a truly successful business is giving your customers an amazing experience.
The only way to do that is through a well done sales funnel.