ECommerce Marketing – How to Use a Sales Funnel Approach For Online Sales
In online sales, you have to design a proper approach for perspective customers to progressively work through your sales cycle. In your product creation strategies you need to think about using some type of step-by-step guide to develop a proper sales for work customers to buy your increasingly higher priced products.
I this article am going to discuss some ideas about using your sales funnel to get people to your high ticket item (versus just using a sales funnel to progressively sell higher value (and price) items.
Review of Basic Sales Funnel Theory
The basic idea of a funnel is that of creating a progression of increasingly more expensive products. The typical example is that of a sales funnel that begins with a free item, progresses to a $10-$30 item, then a $50-$100 product, then progressively adds $500, $1000 and $1000+ items.
Why? The basic theory of sales funnels indicates that individuals become more closely acquainted with you and your products over time and will purchase more expensive items over time. clickfunnels discount code The funnel aspect of it comes from the idea that as you move up in price the percentage of prospects who purchase the more expensive product goes down.
The idea is that many will ‘buy’ a free item, a certain percentage of those will buy a $10 item, a certain percentage of those will buy a $50 item, and so on.
This sales funnel is the sales process by which I have grown my business to a $20,000 plus monthly online business.
However, over the last month I have been experimenting with another application of the funnel theory, and have shown strong initial results.
Reverse Sales Funnel
This application of sales funnel theory is based on the idea of a reverse sales funnel. A reverse sales funnel would be a funnel where you would introduce the prospect to the highest – priced product in your funnel first, then if they do not purchase the higher priced product, offer a lower priced item to them.
Two things are important here:
1) Some people will buy the higher priced product early on – so why go through the process of progressively increasing value and price, when you can sell the highest ticket item first?
2) By exposing your prospects to a high ticket item first, you create a different psychological mindset for the prospect. A prospect whose first impression of you involves reading a sales page for a $5000 product is going to view you, your quality, and your status differently than if their first impression of you was a $10 ebook. The difference would also hold if you compared $10 with $100 or $100 with $5000.