Another georgous day here in Sunny California, and after 2 weeks of marketing seminars that I have attended, I wanted to give you a broad overview of the strategy that ALL of the great internet marketers, including myself, follow.
It is called the Market Funnel, and it is the key difference between someone who is making $10,000 a year on the internet, and $10,000 a month.
If I told you there was a formula, would you follow it??
As I said in my bestselling book “31 Days to Millionaire Marketing Miracles” the marketing funnel is critical to your strategic planning stage, and no matter what type of product you choose, you need it.
Here is an overview of the Market Funnel Concept:
The Marketing Funnel is progressive steps to getting people to spend ever-increasing amounts of money on auto-pilot, over and over and over again.
It is the big picture marketing technique that keeps you focused. The principles apply to any product, but when you can create something, set up an automated sales cycle, and walk away while cash fills your bank account; this gives you the freedom to do whatever you want with your time.
It gives you freedom of choice.
It has various stages generically called the front end, up-sell and back end, but throughout the progressions there can be a few steps. They are:
1. Acquire – This is the place where the visitor comes across your site and is curious enough about what you have. They see you have packed so much value and delivery in abundance that they’re ‘willing to lose’ that amount of money to see if your delivery matches your promise. This is the free to $47 range.
2. Nurture Stage – If your last stage delivered in abundance, this is where they expect to receive another product similar to that and they expect at least one element that if implemented would prove to be true and work. $97 area. (This is the area where you start to introduce affiliates and invite joint venture opportunities to your model too.)
3. Comfort Stage – They have gotten a few things from you that have proven to be reliable and work, they haven’t invested too much yet, but they can see you deliver what you say and are starting to get comfortable with you. $197 – $497 range.
4. Trust Stage – They trust you, and are expecting that what they buy, they will recoup it by applying the principles you teach or knowledge you share $497 to $1497
5. Reward stage – This is a stage where they expect to make a certain amount beyond what they have spent. $1997 – $2997 range. Mentor stage can start here.
6. Leverage Stage – This is where the buyer has become hyper-sensitive to what you say and offer, they buy it, they are dedicated to you, and are at the higher end of your funnel. They are hoping you are part of their leverage strategy. Range is $3497, $5497, $9997, $14,497, $19,997 and up
7. Peer Stage – The is like a mentor stage, however at this point you focus on more intimate coaching, training, mentoring, business building, first-name basis, takes your phone calls, it is like having a reliable confidant to guide and keep you on track. This starts to be the stage too where your business is a real venture, you are earning consistent cash, and are becoming a viable joint venture consideration at a partner level.
8. Inner Circle Stage – This is where the paying stops and you simply work mutually exclusive, yet together, sharing ideas, and concepts, accelerating each others gains, and the both of you are likely to be mentored yourselves by the next level of the tier.
The funnel will vary price wise and level wise depending on where your status is in the industry. When you’re at the top like Dan Kennedy, Jay Abraham, and others, the entry level could be far greater, but you can see how the progression goes, how you move a prospect through the levels to the ultimate location where you are, and together you both continue rising to higher levels of wealth and enrichment.
If you feel like a victim of the cycle to the point where you stop reaching and lose faith in your ability to achieve and attract what you want, simply go back to chapter 1, review your goals, and get your mindset back in tact, and then finish what you started.
The really neat thing is although the number of people seems to be reducing as it goes through the funnel, your profits increase and the amount of work required decreases. It is an inversion process, especially since at the very top levels it usually doesn’t involve any JV or affiliate referrals, and all the profits are yours.
It is a very fun game, and regardless of where you are, whether a mentoree, mentor, or just starting out. When you understand how it is played and why, you get a very good certainty on where you are, what you need to do in order to progress, where you are aiming for, and the people you need in order to get there.
(excerpt from “31 Days to Millionaire Marketing Miracles”)
Bestselling author of “31 Days to Millionaire Marketing Miracles”