Why You Absolutely Need a Sales Funnel

Why You Absolutely Need a Sales Funnel Writing a book or other information product is a great way – especially for service businesses, to gain some traction in the marketplace… Having a book credentialises  you. BUT – it can also be a great profit pocket for you. It’s important to think of where this book or information product fits into your sales funnel. What is a sales funnel and why do you need one? ==> What Is a Sales Funnel? A sales funnel is a well thought-out pattern of follow-up and product sales that’s designed to maximize the amount of money you make from each visitor on your site. This allows you to maximize the profit you make from these products. The sales funnel generally starts when someone gives you their email address when they land on your website. It then leads them step by step through each product offering. The sales funnel usually steps up to higher and higher price points over time. Your first product might only be $10. Your second might be $97, then $297 and eventually a $2,000 or even $10,000 bootcamp experience. ==> Why Is a Sales Funnel Important? In marketing circles, a well-known idiom is that “The Money is in the Back End.” That means that while up-front sales are important, the real profit is in making repeat sales. Statistics show that it’s about seven times as easy to sell an existing customer than it is to find a new buyer. (This applies to any sale… if you’re not marketing to your existing Customers you are likely leaving a lot of money on the table!) It’s also much easier to make significant money by selling higher ticket items. You’ll need to make over 50 sales at $47 to make up for one $2,500 workshop sale. ==> In Competitive Markets, it’s the Only Way to Compete In competitive markets, if you don’t have a sales funnel you simply won’t be able to promote your product. You just don’t have the leverage. Let’s say you’re selling a Book at $40. You have a conversion rate of 1%, making each visitor worth $0.40. Your competitor is selling an eBook at $40. But they also have a $20-a-month subscription Coaching program. Most people stay for 3 months, so his average customer value is $100. At the same conversion rate, his average visitor is worth $1. When it comes to advertising and promoting, they’ll be...
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Monday Morning Medley – Business growth ideas weekly!

  Monday Morning Medley This monday we’ll look  at gettingorganized in business, Working with your team, amplifying your online marketing and a video on creating a strategic plan. I find all of these places are common places that we business folks fall down… I hope you enjoy! 4 steps to increase team productivity and grow your business – Dynamic Business news.google.com 4 steps to increase team productivity and grow your businessDynamic BusinessOne of the challenges of running a business is to continue to grow and innovate once your business is established. Just maintaining your existing business can be all-consumin …   Get organized to help grow your business – Milwaukee Journal Sentinel news.google.com Get organized to help grow your businessMilwaukee Journal Sentinel(BPT) – Small businesses are always trying to find ways to get organized so employees can work more efficiently and save money in the process. With tax time just around the corner and …   3 Steps To Amplify Your Business’ Online Marketing – Forbes news.google.com 3 Steps To Amplify Your Business’ Online MarketingForbesLet’s say you want to grow your business and I want to grow my business, and since we share the same target customers but aren’t direct competitors, we decide create a formal alliance to help on …   Develop a Strategic Plan That Makes Sense For YOUR Business Your business can be more successful if you take the time to develop a strategic plan that captures your hopes and dreams in concrete terms. Don’t forget to SUBSCRIBE! Come on over to www.deniseoberry.com where the main discussion happens! It doesn’t…...
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