
What is a Product Funnel?
A product funnel is a strategic system that moves a prospect to a buyer. The objective is to over-deliver and to move them from one product to another by solving a problem or fulfilling a need.
Why Do I Need a Product Funnel?
You need a product funnel especially if you're a service based entrepreneur (stylist, speaker, coach, healer, chef,etc) so that you can stop chasing clients and stop trading your extremely valuable time for pennies.
Here's an example of a product funnel:
Try Before They Buy
The initial product is offered for free in order to give the prospect a sample and to begin the relationship building process. Your objective is to attract as many potential customers as possible that fit your ideal customer profile. Most people are not going to hand over their credit card the first time that they meet you. Some will, but most won't based on negative experiences in the past. Therefore, this initial product AKA irresistible free gift will help to establish the Know-Like-Trust factor. People buy from those that they know, like, and trust. PERIOD.
No-Brainer
Your first paid product that is offered to the customer needs to be priced low. $20 or less. $7 is the sweet spot for online offers or a $1 limited trial offer. Even if you're targeting high-end customers. Your objective is to help them to feel comfortable handing over their credit card to you in order to take the relationship to the next level where there is a monetary energy exchange. The amount needs to be low enough that they don't have to consult with anyone else before making a purchase. You don't want them to second-guess themselves out of buying the item.
Complementary
The next product in your funnel should complement their first purchase. Think peanut butter and jelly. Sure, you can have one without the other, but it's more enjoyable when you have both. It just makes sense to put the two together. This product must be something that they would need anyway or adds immense value to their initial purchase. This product should be priced moderately or mid-level.
Plug-and-Play
This is a comprehensive product that includes ready-made templates and tools. It's pretty much all done for them. You may want to add in additional customized services as well. Your customer will gladly pay extra because of the significant time savings and value offered. This is a high-dollar product or package.
Your lead magnet or free offer should always be leading your ideal client to their next step - either your product or service. If you need assistance in creating your product funnel, then I'd love to serve you. Simply schedule your complimentary discovery session here.
A product funnel is a strategic system that moves a prospect to a buyer. The objective is to over-deliver and to move them from one product to another by solving a problem or fulfilling a need.
Why Do I Need a Product Funnel?
You need a product funnel especially if you're a service based entrepreneur (stylist, speaker, coach, healer, chef,etc) so that you can stop chasing clients and stop trading your extremely valuable time for pennies.
Here's an example of a product funnel:
Try Before They Buy
The initial product is offered for free in order to give the prospect a sample and to begin the relationship building process. Your objective is to attract as many potential customers as possible that fit your ideal customer profile. Most people are not going to hand over their credit card the first time that they meet you. Some will, but most won't based on negative experiences in the past. Therefore, this initial product AKA irresistible free gift will help to establish the Know-Like-Trust factor. People buy from those that they know, like, and trust. PERIOD.
No-Brainer
Your first paid product that is offered to the customer needs to be priced low. $20 or less. $7 is the sweet spot for online offers or a $1 limited trial offer. Even if you're targeting high-end customers. Your objective is to help them to feel comfortable handing over their credit card to you in order to take the relationship to the next level where there is a monetary energy exchange. The amount needs to be low enough that they don't have to consult with anyone else before making a purchase. You don't want them to second-guess themselves out of buying the item.
Complementary
The next product in your funnel should complement their first purchase. Think peanut butter and jelly. Sure, you can have one without the other, but it's more enjoyable when you have both. It just makes sense to put the two together. This product must be something that they would need anyway or adds immense value to their initial purchase. This product should be priced moderately or mid-level.
Plug-and-Play
This is a comprehensive product that includes ready-made templates and tools. It's pretty much all done for them. You may want to add in additional customized services as well. Your customer will gladly pay extra because of the significant time savings and value offered. This is a high-dollar product or package.
Your lead magnet or free offer should always be leading your ideal client to their next step - either your product or service. If you need assistance in creating your product funnel, then I'd love to serve you. Simply schedule your complimentary discovery session here.
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Sarah Aderson is The Authority that conscious entrepreneurs depend on to help them
transform their services into digital and physical products. Like Sarah, these
changemakers understand that products allow them to expand their movements, build
generational wealth, and positively impact the world. She empowers you to build an
empire instead of a business.
Sarah is an international speaker, bestselling author, and empire strategist. Her services and products are infused with infinite love. When she's not creating products, you can find Sarah in Atlanta, GA enjoying trail mix and time with her awesome son.
Learn more about Sarah's work at www.expandyourheart.org
Pick up your complimentary 2-Hour Product Creation training here.