Every once in a while, someone creates a product that takes off like crazy and makes them very rich. But the chances of that happening are about as likely as you getting struck by lightning. That’s why you’re going to want to create a sales funnel full of products so that you can sell additional offers to existing customers, which is your surest path to success.
So, with that in mind, check out these ideas for products you ought to have in your sales funnel too.
Lead Magnets
These are your free products that you use to get people on your mailing list. They could take the form of ebooks/reports, videos, tools (such as checklists and worksheets), access to “Bronze” level membership sites and more.
Tripwire Products
These are high-value products that you sell at a low cost to quickly convert your leads into customers. For example, you might sell a really high-value report or video for $10.
Core Offers
This is your flagship offer, which typically comes with a premium price tag. A good core offer is an in-depth course that you sell for $97, $197 or more.
Bonus Products
You use these products to help persuade people to buy your other products. You may have two kinds of bonus products:
1. Bonus products that you use to persuade people to buy your products.
2. Bonus products that you use to persuade people to buy your affiliate offers.
In both cases, your bonuses should be high-value offers that enhance the use or enjoyment of the main product.
Upsells/Cross-Sells
These are products that you sell during the ordering process (right on the order form). For example, if you’re selling a video training course on setting up an online business, you might offer personal coaching on the backend to help people choose their niche and other issues with which they’ll need personalized help.
Backend Products
These are the products you sell to your existing customers. You can sell these offers on your product download pages, within the products themselves, in customer-only private groups, as well as in onboarding emails and other email follow ups.
As always, be sure that these backend products are highly related to the other products in your sales funnel. For example, if someone just purchased a marketing course from you, then you might sell related offers such as advertising templates, SEO plugins, and similar offers.
Conclusion: Think Variety
As you build your sales funnel, keep in mind that you want to include a variety of offers. This includes:
· Residual-income offers, such as membership sites and subscriptions.
· Different types of products, such as ebooks, videos and apps.
· Products at different price points, generally ranging from $10 to $1000 or more.
· Coaching, consulting, and services, if they make sense for your funnel and if you can offer them at a profit.
Bottom line: the more products you have in your sales funnel, the more opportunities you have to increase the lifetime value of each customer.