If you've been marketing online even for a little while, then
you've probably heard the term "the money is in the list". And you know
what?... That statement is 100% true.
At the end of the day, if you learn how to drive traffic and get leads... then you can build your own email list.
But how do you pull sales and commission from your list?
There's a multitude of ways you can profit... even from a small list. But today I'm going to cover every top marketer's unfair advantage - having a good funnel.
Now chances are you're a newbie marketer if you're reading this so I'll keep things as basic as possible. My goal is to give you the general concept and outline the four critical parts to a solid sales funnel.
Part #1. The Lead Magnet.
In order to increase your optin rate, you're going to want to have a Lead Magnet. A Lead Magnet is essentially a bribe. In other words, you're giving away something for free to your website visitors in exchange for their email. A good Lead Magnet can be a free video, a free MP3, a free report, a PDF download, a free webinar, a free coaching session, etc. Basically, it could be anything that your target audience would be interested in.
For example, if your target market is Network Marketers, you could give away a free video (or video series) that teaches how to sponsor more people.
If your target audience is athletes, you could give away a free report on how to become stronger and faster including what workouts to do and how to eat.
If your target market is people looking to lose weight, then maybe you could give away a free consultation or coaching session where you talk about what you did to lose weight and what they should change in their lifestyle to get healthier.
I think you get the drift. They key is your Lead Magnet has to be relevant to your target audience so that you have subscribers that are actually interested in what it is your offering.
Keep in mind that you may have to test two or three different Lead Magnets to see which converts the best. Sometimes your second or third Lead Magnet will work better than your first one.
Part #2. The SLO, or Self Liquidating Offer.
The SLO is a critical component of your funnel. The SLO is a product or service you offer to your list that is relatively inexpensive. It could be a report, or a download, or a webinar. Or it could even be an affiliate product or digital product that you're promoting. The key is that the price point has to be small.
Maybe your SLO is a $7 Report. Maybe it's a paid webinar you do for your list for $17 or $27. Or maybe it's an eBook that you're selling that costs $47. The idea is that it is very affordable and filled with value.
Now it's important that you understand the true purpose of the SLO. The purpose is not to make a profit. The purpose is to simply identify who are the buyers on your list. If you're advanced, you might want to segment the buyers on your list, so you could market to them accordingly.
As an entrepreneur, you need to keep the bigger picture in mind. It's OK to not turn a profit from your SLO because you'll make money later when you start promoting your Core Product.
#3. Your Core Product.
Your Core Product is the main thing you're selling. It could be a product you created. It could be a product you're an affiliate for. It could be a monthly subscription to a service. Or it may even be your Network Marketing Opportunity.
Selling your Core Product is where you'll start to turn a profit and really start to build your business and income. My suggestion is that you start to do your own webinars to sell your core product. Webinars have long been the staple for top marketers to sell online. You could engage your prospects and even do a Q&A session if need be.
It's important to know that your Core Product will require several exposures until people start buying or joining. It takes about 7-12 exposures to your offer until people take action so just be consistent and keep providing value.
#4. The Profit Maximizer (or Profit Multiplier)
This is where the top marketers start to separate themselves from the small time players. A Profit Maximizer is essentially a High Ticket program or product you offer your list. Typically, it something that can generate $1000, $3000, or $5,000 commissions. I've even seen some High Ticket programs that pay out all the way up to $50,000 commissions.
Now why is a Profit Maximizer critical to your business? Because it give you a much bigger budget to do paid traffic. Make no mistake about it, if you want to get big you'll have to do paid traffic at some point. If you're able to make $1000 or $3000 for making a High Ticket sale, you could turn around and put that money into traffic. This is how the big online marketers scale their business.
Keep in mind, that you will not make a ton of sale with your Profit Maximizer. But you don't need to. With one High Ticket sale, you can make more than you'd make making 10 or 20 sales with your Core Product.
Here's what you need to wrap your head around. It's not that hard to sell High Ticket products online. Sure it's going to require more effort than making a smaller sale... but it won't be relatively harder.
For example, let's say you're selling a product that pays you a $100 commission. And then let's say you have a High Ticket offer pays you a $1000 commission. Now you might work 2 or 3 times harder to close that High Ticket sale, but you won't work 10 times harder... but yet you'll make 10 times more money.
Another tip that will help you get more High Ticket sales is getting on the phone with people. For example, you could let people schedule a phone meeting or Skype chat with you in your emails. Then once you're on the phone, you could answer questions they may have or give your pitch on why they should buy your product. I've found that people won't spend bigger dollars unless they could get on the phone with you.
So there you have it... The four parts to a professional online sales funnel.
Lead Magnet.
The SLO
Core Product
Profit Maximizer
Make sure you have all the parts in place so you're funnel could go to work for you.
Of course, if you have no traffic or you're not getting leads, you'll still struggle even with a good funnel so make sure you invest your time accordingly when it comes to marketing and driving traffic.
At the end of the day, if you learn how to drive traffic and get leads... then you can build your own email list.
But how do you pull sales and commission from your list?
There's a multitude of ways you can profit... even from a small list. But today I'm going to cover every top marketer's unfair advantage - having a good funnel.
Now chances are you're a newbie marketer if you're reading this so I'll keep things as basic as possible. My goal is to give you the general concept and outline the four critical parts to a solid sales funnel.
Part #1. The Lead Magnet.
In order to increase your optin rate, you're going to want to have a Lead Magnet. A Lead Magnet is essentially a bribe. In other words, you're giving away something for free to your website visitors in exchange for their email. A good Lead Magnet can be a free video, a free MP3, a free report, a PDF download, a free webinar, a free coaching session, etc. Basically, it could be anything that your target audience would be interested in.
For example, if your target market is Network Marketers, you could give away a free video (or video series) that teaches how to sponsor more people.
If your target audience is athletes, you could give away a free report on how to become stronger and faster including what workouts to do and how to eat.
If your target market is people looking to lose weight, then maybe you could give away a free consultation or coaching session where you talk about what you did to lose weight and what they should change in their lifestyle to get healthier.
I think you get the drift. They key is your Lead Magnet has to be relevant to your target audience so that you have subscribers that are actually interested in what it is your offering.
Keep in mind that you may have to test two or three different Lead Magnets to see which converts the best. Sometimes your second or third Lead Magnet will work better than your first one.
Part #2. The SLO, or Self Liquidating Offer.
The SLO is a critical component of your funnel. The SLO is a product or service you offer to your list that is relatively inexpensive. It could be a report, or a download, or a webinar. Or it could even be an affiliate product or digital product that you're promoting. The key is that the price point has to be small.
Maybe your SLO is a $7 Report. Maybe it's a paid webinar you do for your list for $17 or $27. Or maybe it's an eBook that you're selling that costs $47. The idea is that it is very affordable and filled with value.
Now it's important that you understand the true purpose of the SLO. The purpose is not to make a profit. The purpose is to simply identify who are the buyers on your list. If you're advanced, you might want to segment the buyers on your list, so you could market to them accordingly.
As an entrepreneur, you need to keep the bigger picture in mind. It's OK to not turn a profit from your SLO because you'll make money later when you start promoting your Core Product.
#3. Your Core Product.
Your Core Product is the main thing you're selling. It could be a product you created. It could be a product you're an affiliate for. It could be a monthly subscription to a service. Or it may even be your Network Marketing Opportunity.
Selling your Core Product is where you'll start to turn a profit and really start to build your business and income. My suggestion is that you start to do your own webinars to sell your core product. Webinars have long been the staple for top marketers to sell online. You could engage your prospects and even do a Q&A session if need be.
It's important to know that your Core Product will require several exposures until people start buying or joining. It takes about 7-12 exposures to your offer until people take action so just be consistent and keep providing value.
#4. The Profit Maximizer (or Profit Multiplier)
This is where the top marketers start to separate themselves from the small time players. A Profit Maximizer is essentially a High Ticket program or product you offer your list. Typically, it something that can generate $1000, $3000, or $5,000 commissions. I've even seen some High Ticket programs that pay out all the way up to $50,000 commissions.
Now why is a Profit Maximizer critical to your business? Because it give you a much bigger budget to do paid traffic. Make no mistake about it, if you want to get big you'll have to do paid traffic at some point. If you're able to make $1000 or $3000 for making a High Ticket sale, you could turn around and put that money into traffic. This is how the big online marketers scale their business.
Keep in mind, that you will not make a ton of sale with your Profit Maximizer. But you don't need to. With one High Ticket sale, you can make more than you'd make making 10 or 20 sales with your Core Product.
Here's what you need to wrap your head around. It's not that hard to sell High Ticket products online. Sure it's going to require more effort than making a smaller sale... but it won't be relatively harder.
For example, let's say you're selling a product that pays you a $100 commission. And then let's say you have a High Ticket offer pays you a $1000 commission. Now you might work 2 or 3 times harder to close that High Ticket sale, but you won't work 10 times harder... but yet you'll make 10 times more money.
Another tip that will help you get more High Ticket sales is getting on the phone with people. For example, you could let people schedule a phone meeting or Skype chat with you in your emails. Then once you're on the phone, you could answer questions they may have or give your pitch on why they should buy your product. I've found that people won't spend bigger dollars unless they could get on the phone with you.
So there you have it... The four parts to a professional online sales funnel.
Lead Magnet.
The SLO
Core Product
Profit Maximizer
Make sure you have all the parts in place so you're funnel could go to work for you.
Of course, if you have no traffic or you're not getting leads, you'll still struggle even with a good funnel so make sure you invest your time accordingly when it comes to marketing and driving traffic.
