A sales funnel is a follow-up sequence that upgrades your product offers. It is designed to maximize the amount of income you can earn from the customers on your site.
After selling your first product, you realize one product is not enough so you start selling your second. Then a third, fourth and the list continues.
If you think this is considered too much, just remember, new mobile phones, cars, are released every year. Demand is in abundance.
If you don’t come up with a proper business plan for the upgrade, others will grab the opportunity away from you. Strategizing is key so you must have a sales funnel.
It is difficult to profit from selling just the Front-End product. That’s why, every front-end comes with an upsell to earn extra revenue and profits. The real money lies in the backend and it makes more than your front-end offers! This is how Internet marketers do 6-figure launches.
The first level of your funnel is called the ‘Low Ticket Offer’.
The price in this level is between $7 to $50 dollars. This explains why most Front-End offers are mostly low ticket offers. Its real purpose is to generate buyer leads.
This allows prospects to trust you enough to part with their money and spend it on your products. You even get to separate real buyers from the rest of the ‘freebies’ seekers.
Examples of low-ticket offers are e-books, special reports or basic training courses.
The second level is the ‘Middle Ticket Offer’. The price range in this level is slightly higher than the previous one, which is between $97 to $197 dollars.
Middle ticket offers are best suited as immediate upsells to your front-end offers. Examples of the offers are upgrades, videos, templates and even membership sites.
The third funnel is one of our favorites and is called the ‘High Ticket Offer’. The price range for this offer lands within $297 to $497! This is where the real money lies.
It is much easier to make a significant amount of money by selling your higher ticket items. As an example, you need to make at least over 42 sales at $7 to make just one $297 sale!
You can group products and sell them as bundled packages, platinum membership, group coaching, seminar tickets and licensing deals.
What comes after this is your ‘Ultra High Ticket’. The great thing about this level is the unlimited price range you can offer. Starting from your higher ticket offer, it can go up to $997 to $100,000 and above.
Examples of your ‘Ultra High Ticket’ offer include private coaching, workshops and even exclusive licensing deals.
This level leads up to the final part of sales funnel; providing longevity to your business.
If you don’t have a sales funnel, you will need to constantly promote new products to keep the business afloat. Worse still, you are leaving a ton of money on the table.
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