We hear it mentioned in sales material … The Marketing Funnel … So what the heck is it all about?
The best way would be to walk you 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.
This is a simple explanation of the sale funnel process. The free book listed below goes into the funnel building process in more depth.