If you think the cost of traffic is going through the roof, you’re right.
According to official Facebook stats, ad costs sky rocketed a whopping 39% in the
first 3 months of this year.
Respected analysts AdWeek predict we could be in for another hike, as high as
79% in the next 12 months.
And it’s not much better on Google either with advertisers watching as prices go up year
after year, leaving them powerless to do anything about it.
This is why smart marketers aren’t focusing on getting more traffic.
They’re now squeezing the most out of every visitor they get.
Fact is, the days of sending traffic to a basic sales page are over. It’s no longer feasible to have a simple sales funnel.
You need to reach your visitors multiple times in different ways. After all, just because someone leaves your sales page empty-handed doesn’t mean they won’t become a buyer.
Some people want more time to make a decision.
Others want more information.
Then there are people who want to start with a smaller purchase.
And you know what? Some people may have wanted to buy but were distracted, called away or needed to charge up their credit card.
And some people will spend even more with you if you give them a chance.
The best way to keep making money is with multiple ‘profit steps’. They’re called profit steps because each one you add to your sales funnel makes you more profit.
You keep your visitors in your funnel for longer.
You offer them more opportunities to purchase.
And you make sure you’ve built a powerful case to purchase.
OK, first up before we get into the example, I should mention there’s quite a few numbers in here.
But don’t worry. You don’t need to work them out for yourself. What’s important is understanding what’s happening with each profit step and watching the profit number go up and up.
In this example, we’ll assume we have a product for $37.
And we’ll drive 1,000 people into our funnel.
The first step you need is a sales page for your product.
Now, the industry average here is a conversion of 1% – 2% from your page so let’s assume we’ve got a great product and a great sales page and 2% buy.
We’ve now got 20 sales from our 1,000 visitors.
That’s $740. It’s a good start, but after you take out your ad costs you’re not going to get rich any time soon. You’re going to feel like you’re stuck on a hamster wheel because you have to do this over and over again and it’s going to send you nuts.
So, let’s add our second profit step and watch what happens.
Can we do better? You bet we can.
Most internet marketers start by asking people to ‘opt-in’, on a page where people leave their name and email address (and possibly their phone number) in exchange for a freebie.
The freebie is called a lead magnet which could be a report, a book, a video series, a webinar or something like this.
Typically, 30% of people will opt in for a good offer, so let’s work on that.
Now that we’ve added an optin to the sequence, 300 people from our starting 1,000 will opt in.
The lead magnet they get also contains an offer and we get 10% to buy the $37 product. The reason it’s 10% now is we now only have the interested people left.
And since we’ve given them something of value they’re more likely to trust us and buy our product.
10% of the 300 people who opted in is 30 sales which is a 50% increase from our earlier 20 sales.
A 50% improvement, just like that, and for a total of $1,110.
This is superb because it doesn’t cost you anything to do. It’s just a bit of effort to create the lead magnet. But hey, you’re investing your time here to grow your business so it’s an investment which will pay off like crazy.
Happy with this?
You should be. And we’re only just getting started.
Let’s add another profit step.
An upsell is a second sale at a higher price.
You see, while some people might be happy just buying the $37 product, there are people out there who have more money to spend and really want more of our help.
So let’s now give them a $67 product to purchase.
It could be advanced training, a multi-site license for software or even a physical product to complement their purchase.
So, let’s take a look at the numbers.
I’ve seen as many as 50% of buyers purchase an upsell, but let’s be on the conservative side and work on 20%.
Since we’ve got 30 buyers so far, if 20% buy our upsell we have 6 extra sales.
An extra 6 sales of $67 a sale is another $402 in our pockets. On top of the $1,110 we already made we’re now at $1,512.
And it doesn’t stop there. No way.
We keep adding upsells until people stop buying.
Let’s add one more at $97. It could be a one on one session, a live Q&A session, access to an archive of content, private Facebook group … anything highly valuable.
And again, we can expect to get at least 20% of the 6 people who see this page to buy it. That’s 1.2 extra sales for an extra $116.40.
This makes a grand total of $1,628.40 so far.
Let’s just pause for a second to recap what we did.
We took a really basic sales funnel which made $740, and by adding in an opt-in plus two upsells we took our funnel to $1,628.40.
That’s over double without any more traffic.
Yes, it’s incredibly easy to put all these pieces together. You see, until now you had to use tools like WordPress, LeadPages or ClickFunnels to do this. And sure, these are fantastic tools for creating pages.
However they’re not great to putting it all together.
I created a brand new tool called Bagel™ which does all this for you, and I suggest you check it out because it’ll make doing all this a breeze.
Meanwhile let’s keep making money.
Adding an email sequence is a smart move because while we had 30 of the people who opted in buy, 270 of them didn’t.
This doesn’t mean they didn’t want to, of course.
Maybe they needed time to think.
Perhaps they were about to go somewhere and forgot about it when they got home.
Perhaps they didn’t have enough on their credit card that day.
Who knows? There’s millions of reasons they didn’t buy.
However I’m sure there would be at least 10 more buyers in this list who would buy if we tried again.
We will remind them of the $37 offer, show them how much value there is in it, give them some success stories, teach them ways to use the product and answer some common objections they have.
If we can’t get another 10 sales, I’d be stunned. It’s easy, and it will add another $370 to our bottom line.
But wait … because they get put back into the sales funnel, we know 20% of them will buy our first upsell, adding another 2 sales of $67 – another $134.
Plus 20% of these 2 sales will buy the $97 upsell. This is an extra 0.4 sales of $97, or $38.80.
Where does this leave us?
It gives us $370 in extra sales of our main product, plus $134 plus $38.80.
The bottom line is our email sequence has added another $542.80.
And this means our funnel is now up to $2,171.20!
Now we’re really moving. We’ve taken a sales funnel making $740 and almost tripled it.
And we’re not finished yet. Not by a long shot.
There are more profit steps to add in.
Let’s move onto the next one.
Odds are you’ve heard of retargeting. However if you haven’t, then I’m sure you’ve seen it in action.
For example, have you ever been to a website and then found that website’s ads following you around the internet?
This is called retargeting. And the beauty of retargeting as a profit step is it costs nothing to do unless people click.
And because the people who click have already been to your website the chances of them making a purchase when they go back again are very high.
Remember, we stared with 1,000 visitors which means we have 1,000 potential buyers seeing our ads again.
Let’s be super-conservative and work off a tiny number like 1% of them making a purchase.
1% of these 1,000 people is another 10 sales. And just like before when we got 10 sales from our email list we’re going to add another $542.80 to our bottom line.
And yes, there are some costs to be paid when people click on our ads, so let’s take out $100 in ad costs and make it $442.80 extra.
Let’s add one more profit step.
A joint venture is one of the smartest ways to make more money. And it’s simple to see why.
A joint venture is a simple arrangement between two people who, between them have a product and a list of potential buyers.
The split on joint ventures can be anywhere from 20% to 60%, so let’s work off a $1,000 product which pays you a 40% commission.
What we do is we promote the product to our email list. Remember, we have collected 300 names on our list here and while we won’t necessarily sell lots of products, we can safely assume at least one sale, adding $400 more to our bottom line.
And believe me, there are some really sophisticated joint venture partners out there who have sales funnels which make huge numbers of sales. So one sale is a conservative figure. However, I want to be conservative so you know at least what you could do.
How much money did we make with these profit steps?
Once we add this $400 to what we made before …
We made an incredible $3,014.
Pretty impressive when you remember our basic funnel only made us $740. It’s actually …
A whopping 407% improvement on our basic sales funnel.
Curious about how you can put your own funnel like this together with ease?
Before I tell you how to do this for yourself, you should know there are more profit steps than these.
You can add …
SMS/text message marketing
Direct mail – yes, good old-fashioned letters which arrive in your mailbox. They convert like crazy and they can be entirely automated.
Downsells which are like upsells, only you offer them to people when they decline one of your offers. Sure, it’s not as much money but you’re still making money out of people who otherwise wouldn’t have spent a cent with you. And they can be turned into higher paying customers later on.
And big ticket offers which exist for those people on your list who will pay anything for your products. Listen, why stop at a $97 product when someone might pay $5,000 for one-on-one help.
I’m running a webinar shortly where I go through all these profit steps, plus more which you can put into your funnel.
And I’m going to show you how to create a funnel using these profit steps in as much time as it takes most people to create a basic funnel.
The Only Sales Funnel
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