What exactly IS a sales funnel?
In its simplest terms, just 2 or more products that are linked together. Classic example is McDonald’s. Head up to the counter, order your combo, and you’re asked a simple question…
“Would you like to upsize that?” Or perhaps, “care to add a dessert to that?”
The front end product is your combo. The LINKED products are the upsize option or dessert. That’s a funnel.
You’ll see this in most shopping scenarios. Good salespeople in ANY industry will offer you a combination of both upsells and related merchandise that go hand in hand with your main purchase. Why?
It can be of benefit to you, the consumer. But it’s of huge benefit to the business. McDonald’s makes WAY more profit margin with upsells and dessert sales than it does by just selling you a combo.
This translates to internet marketing products as well, and if you’ve ever bought an info product online, you’ll have seen this in action.
Buy the main product. Then get offered more options. Upgrades, cross-sells, downsells, you name it. Why? More potential benefit for you, GUARANTEED higher margins for the product vendor.
So how do you make this work for you?
Here at The IM Rebels, we firmly believe in product creation as a firm foundation for your IM business. But face it – not everyone has time to create all these extra “funnel elements” that can drive the majority of your profits.
Sure, create the front end product on your own. HIGHLY recommended you do so. That’s your first point of contact with your customer, so having a unique product is the best bet for standing out and making a solid connection.
As for upsells and additional funnel elements?
We firmly believe in White Label rights to help accomplish this.
White Label rights refer to software products that you can purchase, then have the rights to rebrand AS YOUR OWN, and sell for 100% of the profits. Depending on the license, you may even have permission to customize the products themselves.
White label makes creating a highly profitable funnel really easy. All you do is set up the front end product. Then choose complementary white label products to round out your funnel. And now instead of having 1 product to offer, you can have 2, 3 or even more – without much extra work at all other than rebranding.
Massive time saver and profit booster. The trick is to find white label products that are both highly related AND of very high quality.
We’ve found white label softwares make the most sense. Very high perceived value to consumers, and most are thoroughly tested before release. It’s a huge win for both you and your customer base. Conversions are generally higher also versus selling a matching price PDF training. The perceived value between software and PDF training is no comparison.
Something to think about. Product creation PROFITS come from a well integrated sales funnel. In most cases, you won’t make much net profit on the front end – as you’ll be paying out a large percentage to either affiliates or by way of advertising costs.
The money comes from the REST of your funnel. And these elements can best be put together by leveraging relevant white label products that directly help YOUR customers get the best possible results.
So the 3 simple steps to a highly profitable sales funnel?
- Create your own, unique front end product
- Find highly relevant white label products (1-3) that you can sell for 100% profit
- Rebrand these products as your own and insert into your funnel
You’ll be pleasantly surprised by the results!
Tomorrow look out for Shane’s post “It’s A Funnel, Not Rocket Science!” He’s going to dive in a little deeper into automating your traffic, emails, subscriber flow and scaling your product funnel.