It is imperative for your product to have a sales funnel if you are to attain maximum profitability from your product. Having just one product, even a successful one, is not going to allow you to make a sustainable income or a sustainable business online.
Additionally, most prospects need to be contacted an average of seven times before they will purchase your product. If you do not have a sales funnel for those prospects to enter into, you will earn little to no profit from them.
Having a sales funnel is key to earning the most profit from your digital products. First, you need to have a squeeze page that offers a free report on a topic of interest or some problem or issue that entices the prospect to give up his/her name and email address. This will allow them to enter your funnel.
You then communicate with them via email, both to provide the free report they were promised, plus follow up with additional information about the issue or problem and what your expertise is. You also provide a link to your main product offer and imply in most of your messages that your product is the solution to that problem brought up in the free report.
In a few of the messages, you can directly market your product and explain exactly why it will be of benefit to them.
After the prospect is convinced of the value of your product, he/she will use one of the links to head to the sales page and purchase it. Once he/she has done that, that person will be presented with an upsell offer that is designed to provide more value to the original offer.
It is an optional, one-time offer that the customer must purchase at that time in order to benefit from it. The scarcity factor will make it more enticing for the prospect to buy it.
If he/she buys the upsell offer, he/she may be presented with one or more of them. If he/she doesn’t buy the upsell offer, he/she will be presented with a down sell offer that is either the same or similar to the upsell offer but at a lower price.
This is to encourage the customer to purchase this offer to add value to the main offer he/she purchased.
Having multiple offers makes it more likely the customer will purchase, as it’s been shown that people are more willing to buy multiple related offers after he/she has purchased the first one. A perfect example is buying fries and a soft drink with a burger.
By employing this marketing tactic into your sales funnel, you will provide more value to the customer and make more profit from him/her.
5 Steps To Building Your First Sales Funnel
It may seem overwhelming to build your first sales funnel since you have never built one before. Fortunately, the process is not that difficult and can be learned relatively quickly. We present a five-step process below that will help you build your first sales funnel.
First, you need to create an effective squeeze page. This squeeze page must include a free report on some topic of interest to the squeeze page visitor so that he/she is convinced to provide his/her name and email address in order to receive that free report.
This needs to be connected to your autoresponder so that the prospect’s name and email address is added to it so you can email him/her after receiving it.
Second, once you have that prospect’s name and email address, you need to send out a welcome email to that prospect, include the download link to the free report that the prospect was promised for submitting his/her contact information, inform him/her about who you are, and let him/her know what information he/she can expect to receive your email messages.
Third, over the course of at least seven email messages over a period of two weeks or so, you will present more information on the topic/issue/problem related to your free report to show the prospect that you are a respected expert in this field and can be trusted.
By providing mostly information and including a link to your main product offer, you can build the relationship with your prospect and get him/her to trust you and your recommendations.
Fourth, when the prospect is comfortable enough with you and your recommendations, he/she will click the main product link and go to your main product’s sales letter. If the sales letter is convincing enough of the benefits your product will provide to him/her, he/she will order your main product.
Fifth, you will present one or more upsells and optionally one or more corresponding down sells. The first upsell will be presented as soon as the prospect has bought your main product offer. The upsell is designed to provide more value to the main offer for the customer, while it is designed to provide you with more profit.
The corresponding down sell is the same upsell offer or a slightly different offer at a lower price. The first upsell and corresponding down sell can be followed by more upsells and down sells, each presented after the purchase or denial of a previous upsell or down sell. All upsells and down sells are designed to provide extra value to the customer and extra profit to you.
When the customer has gone through your entire sales funnel, he/she will receive an email(s) with access instructions for the product(s) he/she has purchased, while you will have added a new buyer to your buyer’s list.