Creating Your Online Sales Funnel
When starting out in building an online business
, a lot of people have no idea where to start. From listening to other marketers, you would think it is as easy and simple as 1, 2, and 3. In theory it really is. But when the rubber meets the road and you come back to reality from all the hype, creating your sales funnel can be complex and confusing. Where do you start? What do you do? You need to take action somewhere, but where?The first thing you need to do is find a market to work in. I know this sounds obvious, but a lot of people think they need to find a product to sell, and this is completely wrong. You need to find a hungry market that has a problem you can solve. Once you find the market, then you can think about products.
After finding a hungry market, you are going to want to build a subscriber list. There are a lot of people who think that building a list is not profitable or worth their time, but if you look at all the guru's that have become successful, you will always see that they have built a list.
Building a list through email marketing takes work, but in the end, is very worth it. As a matter of fact, if you don't build a list, you are leaving a lot of money on the table. The reason for this is because with building a list, you are able to sell to your subscribers over and over again vs. selling to a customer once who visits your website. Again, it may take a lot of work, but in the end, it can boost your profits greatly.
When it comes to sales, you are going to want think about four different elements:
Front end product: This is your introductory product, and will be low priced. You offer this product right away. This can be an ebook, or a cheap piece of software or possibly a low priced video series. You should price this product between $27.00 - $37.00.
Midlevel or Upsell product: This product is an upgrade from the front end product. This could be the same product, but with videos added or something to that nature. Or you can offer another product that compliments the front end product. You obviously price this higher than the front end. You could offer the upsell for something like $47.00 - $77.00 or above.
Backend product: The backend product is where you are going to make your money. As a matter of fact, you should have more than one backend product each with a higher price than the last. You can price the backend to $97.00 over $100.00. Pricing is up to you and depends on a number of different factors.
Residual Income Product: This could be a membership to a newsletter or a website. Whatever it may be, you have to offer good, valuable content that is worth paying for monthly. For instance, you can offer your customers a membership site for a monthly payment. Prices range depending on what kind of membership you are offering. But this is something you want to think about so that you can have monthly income coming in without having to constantly sell.
Another thing you are going to have to think about is traffic generation. There are a lot of different ways to getting traffic. You can either pay for it, or get it organically. By paying for it you can use Pay Per Click (PPC) ads and banner ads for example. For organic traffic you could write articles, Blog post, post on forums, and create hubpages. Social marketing like using Twitter or Facebook can generate a lot of traffic also.
Doing all these things is actually creating your sales funnel. Of course you need to go into much more detail with building your business than what was mentioned here. What I have given you is a starting point, and that's what a lot of new marketers need in order to take action.
Creating Your Online Sales Funnel
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