In my last post, I talked about the importance of doing your research and making sure there’s a need for your product. This is a critical step that should happen before you even create your product.
Once you’ve established that there’s a need for your product, it’s time to start building your sales funnel. So many business owners and even marketers are guilty of focusing on short-term sales, without thinking about a long-term strategy.
Why not put a solid sales funnel in place now, and avoid being a one hit wonder? Here’s how.
Build a Strong Online Presence
If you don’t already have an online presence, this is going to be a prerequisite for your funnel. Building a strong online presence may consist of:
- Building a website or blog
- Building an audience
- Adding relevant, useful content to your site
- Driving traffic to your site using Google PPC, Facebook ads, SEO, social media
- A strong presence on Facebook, Twitter, Pinterest, and/or any other popular social media sites in your niche
- Credibility in your niche
This doesn’t have to years…but do expect to have to commit some time and energy to develop your credibility. The key here is to provide solid content to people in your niche, and to establish some level of trust.
Collect Emails and Build your Social Media Following
This can (and should) of course be happening at the same time as you’re building your online presence.
At this point you’re not collecting emails and followers in order to sell something. You’re continuing to engage your readers through newsletters, Facebook, Twitter, and by sending people back to content on your site.
Create & Promote an Entry Level Product
This may be the product you created in part I of this series, or this may be another product. However the key here is that this product should be low-cost.
By offering a low-cost product, you’re beginning to feed potential customers into your sales funnel. Your net will be cast wide here, as your goal is to collect emails and information from people in your niche. This will be crucial in terms of promoting and selling your back-end product further down the funnel
Continue to Build Relationships
Just because they’ve now bought your product doesn’t mean they’ve completed the funnel (or at least it shouldn’t mean that). Unfortunately, this is where many marketing strategies stop. For long-term success, make sure you’re focussing on long-term relationship building.
Continue to build relationships through newsletters and social media. Be sure to ask for feedback and to conduct surveys of customers who bought your front-end product. This will help you in creating your back-end product.
Segment your customers into groups, and continue to develop products that meet their individual and ongoing needs.
Create and Promote your Back-End Product.
This is the key to long-term growth. Too many marketers stop at #3, and while they can still be profitable, they’re missing out on a huge pool of untapped sales opportunities.
Your back-end product is your ‘deluxe’ product: It will have a higher price point, will often take much more time and commitment to create, and will require that your customers trust you before they buy.
Who better to create and sell a product for a particular niche than someone who has:
- Already sold to them in the past
- Knows their needs and desires
- Has built a relationship with them, and
- Who has already established a degree of trust.
I hope this has taken a bit of the guesswork out of building a sales funnel. Please let me know if you have any questions in the comments below!
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Photo credit: renjith krishnan