Coaching With the Written Or Spoken Word As an Information Product
Stop trading time for money and add new streams of revenue to your coaching business with information products.
Wouldn't it be great to reach more people with your message, earn more income, and reach people you might not otherwise be able to reach? Using all Levels of Products in Your Business It's easy enough to say that you need a product line.
But how do you plan and produce a product line? What does it mean to have a line of products as opposed to a product or just a bunch of products? I believe you need to follow the product funnel model.
When you follow the product funnel model you will have product to sell to anyone at any point of the buy cycle.
Picture in your mind a funnel.
Coming in the top of the funnel are prospects.
These people enter your funnel from your FREE and very low end offers.
Every prospect who buys something purchases what for that customer we can call the front end product.
The vast majority of your first-time buyers will purchase something from you that represents low risk, high potential return, and gives them a chance to get to know you as an information provider.
When someone takes you up on your FREE offer or buys something they have entered your product funnel.
You want to sell that person a product at every level in the funnel.
To do this, you'll use a technique called "upselling" which involves convincing a customer to buy the next higher-priced item in your product line.
Once they've done that, they become a candidate for the next higher-priced item.
And so it goes.
People will enter your product funnel at different point.
Some may even enter at the level of the high end product but most will enter by purchasing a product under $50.
This should not imply that someone who comes in at, say, a $30 price point (by buying your book, for example), isn't going to leap right up and become a consulting client or buy into your expensive three-day bootcamp.
But most of your customers will tend to enter the funnel at a reasonable price point (under $50 as a rule) and then be willing to buy up in price as they get to know you and the quality of your work.
I recommend that you define and create products at all the price levels I have mentioned above.
You never know where someone will enter your product funnel but you want to have something for them to buy at whatever level they choose to enter.
Wouldn't it be great to reach more people with your message, earn more income, and reach people you might not otherwise be able to reach? Using all Levels of Products in Your Business It's easy enough to say that you need a product line.
But how do you plan and produce a product line? What does it mean to have a line of products as opposed to a product or just a bunch of products? I believe you need to follow the product funnel model.
When you follow the product funnel model you will have product to sell to anyone at any point of the buy cycle.
Picture in your mind a funnel.
Coming in the top of the funnel are prospects.
These people enter your funnel from your FREE and very low end offers.
Every prospect who buys something purchases what for that customer we can call the front end product.
The vast majority of your first-time buyers will purchase something from you that represents low risk, high potential return, and gives them a chance to get to know you as an information provider.
When someone takes you up on your FREE offer or buys something they have entered your product funnel.
You want to sell that person a product at every level in the funnel.
To do this, you'll use a technique called "upselling" which involves convincing a customer to buy the next higher-priced item in your product line.
Once they've done that, they become a candidate for the next higher-priced item.
And so it goes.
People will enter your product funnel at different point.
Some may even enter at the level of the high end product but most will enter by purchasing a product under $50.
This should not imply that someone who comes in at, say, a $30 price point (by buying your book, for example), isn't going to leap right up and become a consulting client or buy into your expensive three-day bootcamp.
But most of your customers will tend to enter the funnel at a reasonable price point (under $50 as a rule) and then be willing to buy up in price as they get to know you and the quality of your work.
I recommend that you define and create products at all the price levels I have mentioned above.
You never know where someone will enter your product funnel but you want to have something for them to buy at whatever level they choose to enter.
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