A sales funnel is an essential process for online marketing. Let us walk through each step of the funnel to gain a clearer understanding of how the funnel works.
Your prospect enters the funnel by responding to your incentive or ethical bribe to raise their hand and give you their contact information. He is now a lead on your mailing list.
You continue to provide value to him, but you want him to make the transition from a non-paying lead to a paying customer. As a result, you give him a front-end, or entry-level, offer on a product or service directly related to the value he received when opting to join your list. You may make the offer at a breakeven or even an initial loss, because you know you will more than make up for it on back-end sales.
If he doesn't purchase your front-end product, you continue to sell him on the same offer or different front-end offers-ideally both, because he just may not be in the market for your initial offer at this time, but may be later.
When he purchases your front-end product, he is now a customer. You are now "warming him up" to doing further business with your company. Once he sees that you over deliver on your promise of value, he'll feel more comfortable buying from you again.
You want to graduate him to the next price level, so you make him an offer on a higher-end product or service related to the entry-level one he already bought. If he doesn't buy, you follow a similar approach as step 3 above. That is, you continue to make him offers, but this time on the mid-level product.
Once he purchases your mid-level product, you move onto the high- end product. He is now conditioned to buy from you with confidence and without worry, because he knows what an outstanding value you've been giving him. He's seen the results of your products first hand, so his buyer's resistance is reduced. He is now on his way to becoming one of your "A" clients, the 20 percent responsible for 80 percent of your profits.
You continue to sell him higher ticket items and provide even greater value to him. The steps I have listed are a very simplified approach. You'll soon see that there is much more to it if you truly want to be successful in the long run, but it's not rocket science by a long shot.
For instance, each time he purchases from you, you'll want to do up-sells and cross-sells. Up-sells are more expensive finishes, grades, styles, or a bigger version of the product ("Do you want to super-size that?").
Cross-sells are other items that go along with the product. Something complementary. A carrying case, extra paper, ink, blank media, whatever ("Do you want fries with that?").
After he buys, you'll want to ask him for referrals, a testimonial, and do everything in your power to make sure he is satisfied.
You want him to be satisfied so he'll buy again of course, but you want also want to reduce your refund rate and gain his endorsement.
You want him to tell all of his friends and colleagues about his positive experience with your company.
These are the major components of a sales funnel. You can implement the steps listed here when designing your online product.
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Source by https://ezinearticles.com/expert/Dr._Tan_Kwan_Hong/2304484