Creating a product funnel is one of the best practices followed in traditional marketing.
The same approach has been adopted by internet marketers to increase sales from the online channel.
This approach is usually relevant when it comes to selling high-ticket products.
Consumers do not buy expensive items every day.
They also do not buy from sellers of questionable reputation.
Therefore, before you make an offer to sell your expensive products, you need to develop trust in the relationship.
This is done through progressive selling and the creation of a product funnel.
The following 5 ways will help you spruce up your funnel creation activity: oEstablishing a communication channel in which there is free exchange of opinions and concerns lead to the development of trust between the communicating parties.
Therefore, allow and promote active communication with your customers and prospects.
People buy readily from those they have trust in.
oDo a competitor analysis.
Keep an eye on their offerings and marketing practices.
Find out what attracts prospects to your competitors.
Reflecting on this information will help you fine tune your campaign.
oBroaden your product range.
If your objective is to sell the high ticket product, then you must create a range of products from high to middle to low value.
Since different people have different comfort levels when it comes to making their first purchase from you, it is important to have multiple price points for different people.
oTrust is the important factor.
Once they have got a taste of your product and your service, you can then goad them to the next level of the funnel, i.
e.
to get them to purchase a little more expensive product.
Your aim must be to eventually get the customer to purchase your highest ticket item.
It is not necessary that all customers must start from the first level of the funnel.
It depends on their needs and level of trust.
Most will start at the first level but many might start at higher levels.
oUse email marketing effectively to build your first funnel.
If you are successful in increasing the first level of product funnel, it will be easier to develop the later parts.
So be open to sales opportunities through email marketing.
There are several list building techniques that you can employ for maximum response.
By having a range of products with different price points, you do not give a reason to customers to try out your competitor's brands.
Therefore, a product funnel has been one of the best means to build a loyal base of customers.