A sales funnel is a series of steps that lead to upgrades toyour product offers. It is designed to maximize the amount of income you can earn from each customer.
Once you make the initial sale, you present another offer that adds to the value of the initial purchase. It is common to see 3, 4, or even 5 additional offers after the initial sale.
If you think this is considered too much, just remember that what you are doing is offering a way for the customer to upgrade their purchase. On each of your upsell pages, you are going to have a link that easily allows them to say "NO" to the offer.
If you don’t come up with a proper business plan for the upgrade, others will grab the opportunity away from you. Strategizing is key so you must have a sales funnel.
You can profit from selling just the Front-End product. But to maximize your potential, every front-end comes with an upsell to earn extra revenue and profits. The real money lies in the backend and it makes more than your front-end offers! This is how Internet marketers do 6-figure launches.
The first level of your funnel is called the ‘Low Ticket Offer’.
The price in this level is between $7 to $50 dollars. You want to keep it priced so that it won't be as hard to get the sale. That doesn't mean that you don't provide value. To make more profits, you have to provide quality every step of the way.
This allows prospects to trust you enough to part with their money and spend it on your products. You even get to separate real buyers from the rest of the ‘freebies’ seekers.
Examples of low-ticket offers are e-books, special reports or basic training courses.
The second level is the ‘Middle Ticket Offer’. The price range in this level is slightly higher than the previous one, which is between $97 to $197 dollars.
Middle ticket offers are best suited as immediate upsells to your front-end offers. Examples of the offers are upgrades, videos, templates and even membership sites.
The third funnel is one of our favorites and is called the ‘High Ticket Offer’. The price range for this offer lands within $297 to $497! This is where the real money lies.
These types of offers are harder to sell, but if you do a good job of putting a lot of value into it, you will find that a certain percentage of your buyers will be interested.
It is much easier to make a significant amount of money by selling your higher ticket items. As an example, you need to make at least over 42 sales at $7 to make just one $297 sale!
You can group products and sell them as bundled packages, platinum membership, group coaching, seminar tickets and licensing deals.
What comes after this is your ‘Ultra High Ticket’. The great thing about this level is the unlimited price range you can offer. Starting from your higher ticket offer, it can go up to $997 to $100,000 and above.
Examples of your ‘Ultra High Ticket’ offer include private coaching, workshops and even exclusive licensing deals. Harder to do if you don't have a reputation and a lot of testimonials. Still, it is something to look forward to in the future.
By using a sales funnel, you can get the most profit out of every product you sell.
If you don’t have a sales funnel, you will need to constantly promote new products to keep the business afloat. Worse still, you are leaving a ton of money on the table.
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