I wanted to show you a better way to build a funnel with some training I recently went through.
Funnels are all the rage right now, where some people (myself included) are moving towards the idea that the traditional website is dying, mainly due to the advent of social media and how people use technology, mainly for entertainment purposes.
When you monetise your website people slowly get to know you and then trust you, so showing up to buy a high-ticket item is usually met with a list of objections.
When you do that you are often losing a sale.
What’s So Good About this New Funnel?
In the new funnel we advertise to our niche audience with the end goal to break even on our funnel and make most of our profit on our high-ticket offers.
We build low barrier to entry products, we often give it away for between $0 – $7 then push them into $49 – $199 offers. So basically we put $1 in to get $1 out.
This way the customer is moving towards the big ticket item. So four of my favourite outcomes in this method are:
- Knowing we will be constantly getting visibility in the market
- Knowing how many people will part with their money
- Knowing we can optimise our traffic spend better
- Knowing how many people we can sell to with more clarity
Note: These low barrier to entry might look like information products. You have expertise in the product you sell. Don’t limit this to your line of products.
How Do I Do it?
So we’ll send traffic down a path from cheapest to expensive product using Facebook Ads. And mind you these products need to make sense in upgrading to the next one. But we don’t advertise the next offer until they’ve purchased the one before it. The steps are…
- Cold audience ad – usually educational video and then warm retargeting audiences based on viewing of video %’s. Yes there will be iOS issues with this method, I’m aware.
- Freebie Offer (Slightly Warm Traffic) – Gets $0 – $7 Product
- One time offer (Warm Traffic) – Gets $8 – $49 Product
- 1-Click Upsell (Hot Traffic) – Get’s $49 – $199 Product
- At any stage you can then bridge it into a high-ticket offer.
Into the Newsletter, Into the Facebook Ads Audience
Push the user into your email system and your Ads Audience, once they’ve purchased at each stage they can be pulled out and across to the next stage.
I wouldn’t be too granular with my tracking. The visibility is valuable enough.
But make sure you’re converting well at each stage…I’d be suspicious of your funnel execution if it was doing less than this:
- Freebie Offer: 1% of traffic buys cheap product (or Freebie Offer)
- One time offer: Above 2%
- 1-Click Upsell: Above 20%
You want to track this funnel and improve it, constantly. Improve the free products too. These are vital in building trust so don’t half ass them!