Sales Funnel Strategies In Online Business
High Ticket Marketing Simplified With A Sales Funnel
Oct 1, 2009
Products which are sold with a high price tag are known as high ticket products. Such products are usually sold in the range of $1000 or more and may include products like coaching classes, antique artifacts, and automobiles and so on. Selling such high ticket products require more than simple advertising to attract prospects. They require what is called the sales funnel.
What Is A Sales Funnel?
A sales funnel is also sometimes referred to as a marketing funnel or a product funnel. Just like a funnel is used to move material falling into it in a directed manner through its outlet, a sales funnel is used to move prospects through the sales process. A sales funnel is basically a series of products with an increasing price tag which are introduced to the prospects over a period of time which eventually leads to the sale of the high ticket product. The sales funnel is an age-old marketing strategy and is also relevant to the online marketing field.
Sales Funnel Development
A sales funnel must be developed after careful thought and with a lot of planning. The internet marketer must take into consideration the needs of the target audience and also their buying behavior. He must have a deep understanding of the human psychology to set up a successful sales funnel. The first thing to know is that people do not buy high ticket products on impulse but spend a lot of time in evaluation and comparison. Moreover, people prefer to buy from sellers in whom they have trust that they will not be cheated. Therefore, the development of a sales funnel usually begins with the development of trust.
Sales Funnel Process Explained
The internet marketer must first get acquainted with his prospects and develop trust and a certain level of comfort before he can sell his products. This is done through sharing of information which is of value to the prospects. He can also give free gifts like an e-book or refer them to articles one has published in article directories. Once some trust is developed, the marketer can offer low cost products which provide high value. This is done in order to create a positive perception of the products one is offering.
The next step is to offer products of slightly higher value once the prospect gets a little interested. As the prospects keeps depending on the marketer to provide information and advice, the level of trust keeps on increasing. Eventually, when the marketer offers his high ticket product, the prospect is ready to buy it easily.
Strategies For Sales Funnel Management
The sales funnel is not a static entity. It needs to be constantly reviewed for results and effectiveness. Sales funnel analysis should include things like conversion effectiveness of the products in the low price segment and in the mid price segment. The marketer can also experiment by trying out different products at the mouth of the funnel to see which of them has the potential to attract prospects.
The complete sales funnel process can be automated with the help of an email autoresponder in which one can program a series of messages which can be sent to the list of prospects.
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