It is imperative for your product to have a sales funnel if you are to attain maximum profitability for your product. Having just one product, even a successful one, is not going to allow you to make a sustainable income or a sustainable business online. Additionally, most prospects need to be contacted an average of seven times before they will purchase your product. If you do not have a sales funnel for those prospects to enter into, you will earn little to no profit from them.
Having a sales funnel is key to earning the most profit from your digital products. First, you need to have a squeeze page that offers a free report on a topic of interest or some problem or issue that entices the prospect to give up his/her name and email address. This will allow them to enter your funnel.
You then communicate with them via email, both to provide the free report they were promised, plus follow up with additional information about the issue or problem and what your expertise is. You also provide a link to your main product offer and imply in most of your messages that your product is the solution to that problem brought up in the free report. In a few of the messages, you can directly market your product and explain exactly why it will be of benefit to them.
After the prospect is convinced of the value of your product, he/she will use one of the links to head to the sales page and purchase it. Once he/she has done that, that person will be presented with an upsell offer that is designed to provide more value to the original offer. It is an optional, one-time offer that the customer must purchase at that time in order to benefit from it. The scarcity factor will make it more enticing for the prospect to buy it.
If he/she buys the upsell offer, he/she may be presented with one or more of them. If he/she doesn’t buy the upsell offer, he/she will be presented with a downsell offer that is either the same or similar to the upsell offer but at a lower price. This is to encourage the customer to purchase this offer to add value to the main offer he/she purchased.
Having multiple offers makes it more likely the customer will purchase, as it’s been shown that people are more willing to buy multiple related offers after he/she has purchased the first one. A perfect example is buying fries and a soft drink with a burger. By employing this marketing tactic in your sales funnel, you will provide more value to the customer and make more profit from him/her.