The Marketing Funnel!
If you’re marketing a high value and presumptively high profit product or service, a multi tiered direct sales funnel might have strong benefits for you and your bottom line.
A multi-tiered sales funnel is a strategic marketing example that directs customers through a series of upsells that climax in your ultimate high value product.
1st recognize that selling a several thousand dollar product on the net is something that happens daily, but very seldom is it done straight off. I know because I do it all the time with the utilization of a multi-tiered direct sales model.
It’s a simple reality that making a sale to an existing customer is several times easier than making that same sale to a fresh prospect, particularly if the fresh product is akin to the one the customer already bought.
What isn’t so perceptible is that in the head of the customer making another purchase, an upsell on your part, that’s in the same price world, is a manageable step; a price point someplace approximately 2x to 10x of the former product appears to work well.
So blending these 2 observations, we may migrate customers from a fifty dollar entry level product to a four hundred dollar mid level product to a 2,000 dollar product with congener ease, since at every step, we’ve provided exceptional value, and kept the next “step” in the same price domain as the former… this multi-tiered sales funnel is easily modified to even higher priced products. There have been those who have used it to sell $20,000 training programs easily, just by adding a $9,000 step up from the $2,000 product.
A few reasons. The 1st we’ve already hit on a little, and it’s because attaining repeat sales is so much easier to do than attaining the 1st sale, as long as you’ve supplied true value and treated your buyers well.
2nd, and every bit as crucial, it’s much easier to optimize the early stages of the sales funnel since the 1st step into becoming our customer is a product for less than $fifty. You are able to begin making a little bit of money while building up your customer base. And then advance to optimizing the creatives in the next tier of the funnel and so forth. This fact alone enables a much more methodical and strategically optimization plan, that will let you profit while getting to the point of making the high end sale.
Naturally the upsells won’t be 100%, but if you do a adept job of writing your sales copy, it’s straight forward to upsell at least a 3rd of your clients over time to each next stage in the product pipeline. And since you’re bringing in money, bettering each stage is much easier and amusing to do!