A decade or so ago, Internet marketers such as myself sold things differently than today.
When we released a new product, such as an info-product or piece of software, it was usually a single product for sale.
The price ranged from $47 to $97 and sometimes much higher.
Then around 2010 or so, things really started heating up in the Internet marketing space.
The competition began getting tougher and tougher and prices started dropping.
Prices for the same products that used to sell at a premium, started dropping to $17 or less, sometimes as low as $7.
Since most marketers can’t survive on $7 product sales, a new strategy was born…
Marketers started adding more products onto a low cost front end product and structuring what is known now as the Sales Funnel.
Without any additional work, traffic or effort, a sales funnel can increase your revenue significantly.
Why funnels caught on so quickly…
If you can sell a low cost front end product that the market needs, your sales funnel can generate the rest of the profit you need.
While I was not a fan of sales funnels at first, I came to accept them as a necessity.
Buyers needed low cost products and sellers needed a way to survive.
So I joined the fray and started using funnels a few years ago.
Today I’d like to show you an example of a live funnel so you can implement the strategy in your own business.
This year I launched my 2018 version of my Affiliate Master Swipe File at:
ezbizcoach.com/jims-2018-affiliate-swipe-file/
It’s a giant PDF directory of My Top 100 Most Recent Affiliate Products and a folder with All My Stealth “Conversational” Promos.
The products are mostly in the Internet Marketing niche however there are also products about a kids book writing program, an anti-aging plr package, a journal writing program, stress, weight loss and a few others as well. It’s a good mix and they all covert great.
Here’s an image of the folder with all my promos so you can see some of the niches involved…
I launched this product at a low price and made it my front end product.
I then built a funnel in JVZoo that looks like this:
As you can see, each product throughout a funnel costs a bit more.
Here’s a breakdown of each of the products in my funnel above…
OTO #1
Social Poster Mega Pack:
A Gigantic Package of Professionally Designed Social Posters For Instant and Viral Website Traffic
OTO #2
Flagship Web Business Course:
PLR to a Huge Web Business How-To Course I Created For My Own Clients and Sold More Than Six Figures Worth.
OTO #3
Unreleased Product W/ PLR:
PLR to a Huge Video Based Product I Created For My Own Biz and Never Released To The Public.
I invite you to visit each of those pages and see how the funnel flows.
Secrets to setting up an effective sales funnel:
#1: Pay Big Commissions
One of the secrets to a good funnel is how you structure your commissions for affiliates.
It’s now common to pay as much as 60%-100% commission on the front end.
This boosts your your earnings per click and helps attract more affiliates to promote your offer.
Now perhaps you’re wondering how the heck you make any money paying out such high commissions…
Well, the answer is in your funnel.
Most marketers pay 50% commissions through the rest of the funnel.
Then they also tie in a back end offer such as a higher ticket item.
#2: Capture Front-end Buyers Email Addresses
This is one of the most important things you can do with every product you launch.
Since you’re going to the trouble of recruiting lots of affiliates to promote for you, and paying them big commissions, you need to grow your buyer list.
Your buyer list is your bread and butter. It is made up of people who are willing to spend money to make money.
So integrate an autoresponder when setting up your product and set it to single opt-in.
JVZoo lets you tie in an autoresponder with a couple clicks at their product setup page.
As your buyer list grows you’ll sell more and more of your own products and affiliate products.
#3: Have a Contest
JVZoo also lets you have a contest and even trackes the number of sales for you.
If you can’t afford big prizes, just give out bonus cash for different sales levels.
For instance, $25 bonus for 15 sales, $50 bonus for 30 sales, $100 for 50 sales, etc.
This gives your affiliates incentive to promote steadily throughout your launch.
#4: Use Video On All Funnel Pages
Most marketers do not take the time to create a video for each of their OTO pages, but this is a mistake.
In fact, when I started using funnels I knew I wouldn’t have time to make a video for every page I’d create for every product I’d launch. So I decided to make collection of funnel clips that would work with every OTO page I’d ever need.
I had videos made for my Opt-in Confirmation pages, my first OTO, my 2nd OTO, Downsell pages, Thank You Pages, Download Pages, Webinar Presells and more.
If you think you may want to try using a sales funnel some day, you can plug my videos into each of your funnel pages. Just download them at FunnelClips.com and stash them away for all your future funnel needs.
They helped me generate a whopping 20% conversion rate due to their friendly, no-pressure scripts.
They also come with Private Label Rights so you can sell the entire collection as your own if you want.
Or if you prefer, you can sell them as an affiliate and earn 60% on the front end and 50% through the funnel.
Here’s details on my affiliate program along with a signup link. (Opens Oct 24, 2018) Mention you’re a BizWeb eGazette subscriber and I’ll approve your link! 🙂
I hope today’s post helps you grow your profits online.
Talk soon!
Jim
Jim,
If you only knew how much I hate sales funnels you most likely would have left me out of this Gazette mailing.
I know they are here to stay but I sure wish someone would just let me go to a page with all 14 of there upsell, down sell, cross-sell offers and let me decide which ones I want instead of forcing me to click through10 different pages with 5 OTO that you will never see again only to receive a followup email with all of those offers still available. After about 2 OTOs I just scroll to the bottom and click on the no thanks link.
Before I read this I was sure I would never use a funnel in my business and even though I am still not sold on the idea I am no longer saying never.
Keep up the good work and get in an extra round of golf this week.
Clyde