The marketing Funnel Business Model is probably the most effective business model on the Internet today, with regards to getting people to spend ever-increasing amounts of money on autopilot, over and over again. It is the big picture-marketing plan and is commonly referred
to; as “The Million Dollar Blueprint” The real beauty of it is that the principles are the same whatever markets you are in. one funnel away challenge price
The principles apply to any product, but when you can create something, set-up an automated sales cycle, and then walk away while cash siphons into your bank account automatically, gives you complete time freedom, and what a great feeling it is to know you can create a new income stream any time you desire. Do it once, then simply repeat, repeat,repeat.
Now obviously it is called a funnel for apparent reasons and if illustrated graphically is actually shaped like a funnel, and although the business model is based on people entering the process
through the top (usually through a free offer) and working their way down, it doesn’t necessarily mean that customers can’t join the process at a higher price point, but generally your funnel will follow the principle laid out in the diagram featured on my Blog.To view the diagram simply visit the URL contained in the link at the end of this Article, or in my Author bio): –
The Marketing Funnel has various stages generically known as, the front end (free items), up-sell (Inexpensive items & Mid-Priced Items) and back-end (Highest Priced Items) but right
throughout the process there are gradient steps contained within all of the aforementioned stages, and these are as follows: –
1.Acquire. – This is where the visitor first comes across your offer (s) and is curious enough to want to know more. They can see from your initial hook (probably a free offer of some perceived value) that you are giving great value so they already have developed some amount
of trust and for that reason they are prepared to subscribe at this point.Sometimes your product at this stage, especially if it is particularly relevant and valuable to the visitor, may have a price of $27 to $47. Either way, whether it is free or a very low price, the point of your
offer at this stage of the funnel is simply to entice your visitor into
2.Nurture. – If your previous stage delivered value in abundance, this next stage is where your subscriber now expects to receive another product of similar perceived value. Price point at this stage of the process is generally between $47 & $97. Very rarely would you be providing a free product at this stage. Right now if you were to refer directly to the diagram, you would be positioned within the 2nd stage of the sales process.
3.Comfort. – Your subscribers are very comfortable dealing with you; they will have purchased a few products from you now, which have been proven to provide great value. They can see that you deliver over and above what you promise (always under promise and over
deliver). They probably haven’t invested a great amount yet, but at this particular part of the process would be considering your products priced at $97 to $197.
4.Trust. -They now trust you, and are expecting that what they buy will easily be recouped applying the knowledge and principles you are sharing and teaching. Typically your product price point at this stage of the process probably ranges from $197 to $497.
5.Reward. – At this stage your customer now expects to be making a certain amount, which is above and beyond the purchase price of your products. Mentoring can start at this point. Price range can be from $497 up to $2997.
6.Leverage. – Your customer at this point is now very sensitive to anything you say and offer, they are dedicated to you and buy what you offer. This is now the higher end of your funnel, and your buyers are now hoping that you now form part of their leverage strategy. Product
price range now is reaching the very lucrative areas of $2997 and beyond.
7.Peer. – This is the stage where you would be mentoring on a more intimate level, offering 1 to 1 coaching, training and business building. This is now the stage was YOUR business is becoming a real venture, bringing in consistent cash, and you are fast becoming a viable joint venture partner.
Your funnel will vary price wise and level wise dependant on where you are within your industry/niche. Top marketers such as Dan Kennedy, Jay Abraham, and Alex Mandossian have a very high entry level, so you can see how the progression goes. The more knowledge and
experience you possess, the better your reputation becomes and so it naturally ollows that your prices will reflect that as you mentor at a higher level. You can see how the progression goes, as you move your prospect through the levels to the level you are now at, together you both continue the rise to even higher levels of success and wealth.
The really great thing about this process is once you understand how it works, you can very quickly gauge exactly where you are, what you need to do to progress and improve, where you are aiming for and the people you need to help you get there.