Put simply, a sales funnel describes the way that we sell to a prospective client.
It involves presenting an offer to a prospective client. If they choose to purchase then we offer upsells. If they don’t wish to purchase, we offer downsells.
To entice a prospective purchaser into your funnel in the first place, you need to understand your avatar, and entice them accordingly (via paid advertising, social media etc)
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Sales Funnels define the way that we handle customers when we present customers with an offer. Depending on whether they purchase or not, we offer them various upsells and downsells. Here is an example of a sales funnel structure. (They can vary in their setup)
- Upsell 1,
- Upsell 2,
- Upsell 3,
front-end product- the first product offered to a potential buyer
upsell: A product offered to a buyer after they have purchased the front-end product
downsell– if the potential buyer chooses not to purchase, they are offered a downsell which is usually the same product with the price reduced
Backend Offer– Usually the backend offer is presented a few days later after they have received some follow up emails. A Backend offer can be in the format of a webinar, coaching group etc. Usually the Backend product is the product with the highest price among the other elements in the sales funnel.
HOW TO CREATE AN IRRESISTIBLE FRONT-END OFFER
- The front-end offer has the most important role in the sales funnel, because it is going to get people into the sales funnel.
- A front-end product is usually sold at a lower price. Its main purpose is to attract the subscribers to click on the “Buy” button. A general guide on price is between $7 to $37.
- Sometimes the front end product is offered with 100% affiliate commission, because the vendor knows they will make money on the upsells and back-end products.
- The front-end product is usually an e-book, videos, audios, etc.
- You can create the product yourself or purchase a PLR product that has already been created and you buy the rights to repurpose the content.
- Make your front end offer irresistible by offering bonuses. The bonuses may be content that you have written, or PLR products that you have purchased (always check the license of the PLR products you have purchased to make sure they are able to be given away as a free bonus)
How to Create a High Converting Upsell
- The upsell offer happens right after someone has purchased the front-end offer. This is often the most profitable part of the whole sales funnel.
- Serious buyers are actually looking for solutions, so if you are offering them more value, there’s a good chance they will take the upsell, as long as it’s related closely to the front end offer.
- And of course they are already in a buying mood.
- Upsells might be ebooks, videos, video transcripts, mindmaps, software etc, but it needs to relate to the front-end offer
- Make an Upsell video about 2-5 minutes long. The sales copy is a short powerful message that recaps the messages in your video. They hear it in the video and it gets them excited and then they can read about it too.
- Make the upsell a higher price than the front-end offer, usually at least double the price.
- Make the upsell a “one-time offer”. Tell them that if they don’t buy now, they’ll lose the chance forever.
How to Create a Downsell
- A Downsell is when you offer a product at a cheaper price, when someone has declined the offer to purchase your product.
- The downsell is presented immediately.
- The downsell is cheaper than the original offer. Usually it is the same product as the original product, but minus the bonuses.
- Removing any bonuses is important so that you’re being fair to the people who did buy the offer at the full price.
- The downsell makes people think they are getting a bargain.
Create A 2nd And 3rd Upsell
- The 2nd Upsell comes directly after the 1st Upsell, while the 3rd Upsell is directly after the 2nd Upsell. The 2nd Upsell is, of course, of more value than the first Upsell and the 3rd Upsell is of higher value than the 2nd Upsell.
- It needs to be done carefully as having too many upsells may annoy the customer.
- The upsells need to be related to the original product so that it’s a logical progression.
- Examples: membership programs, PLR products, Webinars, Coaching
- Try to offer extra bonuses to make it irresistible
- A Backend offer is usually a high-ticket offer sent to the customers a few days after the purchase.
- Backend offers are usually sent three to seven days after the customer has made the purchases from the vendor.
- Customers have had a chance to evaluate the products they purchased from you. If they like the products, they’re more likely to purchase the higher priced backend product.
- Examples of a backend product: coaching, selling them PLR rights to your products