Every business should have a sales funnel, which is a visual representation of how to attract people into the business and convert them into paying customers. The term ‘sales funnel’ is a big buzz word lately yet so many business owners procrastinate or are scared to create a funnel for various reasons. Most commonly, they get overwhelmed at the idea of having to have multiple offers for their prospects and like anything else, once you start to overthink an idea, it gains a life of its own and seems impossible to create.
So, let’s simply the whole sales funnel idea.
Step One: Offer Something for Free
Freebies are easy to create and we often have a tendency to create too many freebies, which then spoil people and make them leery of buying when you do finally offer a paid item. Easy freebies that you probably create every week are blog posts and emails, followed by opt-in freebies. If you add in anything shared via social media platforms, podcast interviews, or videos, you’ll notice that you spend an awful lot of time on free information. It’s all well and good to attract people to you but now it’s time to move on to the next level.
Step Two: Lower Level Paid Item
Once your prospects devour your free information, they will want more so have another product in place but make it a paid item. Create an ebook, a monthly membership site, or recordings from a telesummit. You’ve gained their trust so now it’s really time to impress them with your knowledge and value that you share. Once they hand out that first payment, it’s easier to sell them another item because they already like you.
Step Three: High Level Paid Item
One key to a successful sales funnel is pricing your items accordingly and at reasonable increments. If you have a monthly membership site offered at $39/month, offering a high level mastermind retreat for $10,000 is too much of a jump and extremely unrealistic! Instead, offer a $199 group coaching package. Knowing your ideal audience is key in creating your funnel otherwise you’ll lose people midway through the funnel, before they ever make it to the high paid item.
No Need to Recreate the Wheel; Repurpose Your Content
Essentially we’ve broken down the sales funnel into its simplest form: basically three products or components. You already have tons of free content available so let’s focus on the other two paid products.
You don’t need to sit down and start writing thousands of words a day or recording dozens of videos. Instead, sort through what you have and find a way to bundle items together or combine like items into ebooks, reports, audio files, or video classes.