You’ve got your lead magnet all set up and you have a couple of product that you’re selling to your target market, but have you mapped up a whole funnel and have it built out? If not, this may just be the best thing you can do to increase your email marketing profits.
A good marketing funnel leads a prospect all the way from the initial opt-in freebie to a high priced product at the end. Along the way, your customers will make multiple purchases, increasing your bottom line. Some of those products will of course be your own. In addition, you can make offers for related products that you’re an affiliate for. In other words, you don’t have to create every single product from scratch. In fact, your entire funnel aside from the lead magnet could be made up of affiliate products.
The important part is that you have your funnel mapped out and know what offer to present your readers at what stage in the process. That takes a bit of planning on your part in the beginning.
Your basic funnel looks something like this:
Lead Magnet 🡪 Low Cost Product 🡪 Series Of Higher Priced Products (or repeat buyers, recurring product sales) 🡪 High Ticket Item
The idea is to get them on your list and then get them to make that first purchase with you. Your best bet here is to start with something very low cost and then vow them with the value you provide for that price. To make sure that’s sustainable, stick with an info product that you can create once and then deliver over and over again there. An ebook or a recorded training course would be a good option here.
From there you will move them through a series of other products. One way to do that is to offer higher and higher priced products that teach more, get in more debt and start to give your customers more and more access to you. The more time you spend with them personally, the more expensive the product gets, ending in your high ticket personal coaching program or your bundle of everything you have to offer. Not a lot of customers will buy your highest priced product, but when someone does, it adds a lot of dollars to your bottom line.
Of course this isn’t the only funnel model. Another option is to have series of products that you come out with the end goal of having your customers buy as many of them as possible. If you’re a kindle book author for example, you may choose to publish a series of books with the ultimate goal that each readers buys and reads every single book in the series.
Get out a pen and paper, or open your favorite mind mapping software and draw out your funnel. Start with what you have in place right now. Then step back and see what holes you have in your funnel. What can you add to flesh it out and build it out more? If you’re having trouble figuring that out, take a look at what your successful competitors have in place. Sign up for their list and pay attention to the products they offer you. That will give you a good idea of what types of things you may want to add to your own funnel.
Once you have your funnel mapped out and identified the holes in it, it’s time to get to work and either create those products, or find products you can promote as an affiliate.
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