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Looking for ways on how you can grow your product funnel creation? What is a product funnel, if you have never heard of this expression before ?

It is a series of related products of increasing content and complexity from a simple ebook to a high end value product such as personal coaching.

Let me share with 7 tips :

1. Establish your expertise on your chosen niche. You need to show online users that you are very knowledgeable on your chosen niche and that you can offer them the kind of products they need so they will trust you. Share a slice of your expertise through ezine publishing, Webinars, forum posting, article marketing, and blogging.

2. Get to know your potential clients. You must have a clear idea about the people that want to serve. You must know their needs, demands, and preferences as these will be your basis when creating your products.

3. Determine inadequacies within your chosen niche. Identify the gaps you need to fill in and the products that are constantly being looked for by your target market. By doing so, it will be a lot easier to figure out the best products to create.

4. Create series of products. Develop low-end, middle-end, and high-end products that will meet the varying needs of your potential clients. If you are offering information base products, you can create ebooks for your low-end products, CD series for your middle-end products, and one-on-one coaching for your high ticket products.

5. Convert potential clients to buying customers. Convince your potential clients to buy your low-end products by properly building up your offerings and telling your customers the benefits they can get from your creations. It would help if you can offer enticing freebies or huge discounts that can make your offer even more attractive.

6. Promote repeat business. Move your customers farther down to your funnel by convincing them to take advantage of your other products. These people will not have any problem doing business with you again if you give them great experience during their initial purchase. Ensure that you only offer them with top quality products and make them feel that you truly appreciate their business.

7. Offer incentives. One of the best ways to keep your current customers is to give them something in return. Reward them with exciting freebies every time they make a purchase. You don’t have to send them expensive items as you can offer short ebooks or reports for free.

However, constructing a series of products has its own challenges. You need to learn how to write in a persuasive manner that will result in sales – or pay some one else to do so.If this is new to you, you need to learn more about the art of copywriting.

Why Sales funnel? (How works sales funnel)

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A sales funnel is a tool that can provide you with an indication of how well your sales system is operating at any given time.

Imagine a funnel, wide at the top and narrow at the bottom. You put your new leads into the top of the funnel, and they are progressively passed through the various parts of your sales procedure until the sale is closed and payment is received at the bottom. Out of the bottom pops the completed sales. Alternatively, the bottom result could be customers who are completely attuned to your niche and ready to purchase your highest priced products.

Naturally, since it is a funnel, a lot more goes into the top than comes out of the bottom. Between the two are procedures of quotations, information, free samples, low priced sales, etc., that make up the total process of converting an initial lead or enquiry into a completed high value sale. Obviously the number of closed sales is less than the number of leads, and the number that goes into the top gets less and less as they pass down the funnel.

This can be used as a sales tool to determine the effectiveness of each part of the process. Each part of the funnel should be clearly defined with criteria that can provide certain information about each lead at that stage. At each level, leads should become progressively more qualified, and the level of qualification at each stage should be known.

A Sales Funnel Report can be run to compare the actual situation at each stage with your sales budget or plan. The funnel can indicate if any specific level is acting as a bottleneck and needs more effort directed to it, or if resource can be taken from one level and deployed at another. It can indicate whether or not a sales budget can be met, or if more leads have to be added to the top of the funnel. It can also indicate at what point leads drop out of the system, and what action is required to maintain a steady flow.

In order to build a sales funnel, you need prospects to pour into the top. Your objective is to end up at the bottom of the funnel with people who have been qualified at various stages in your funnel to become responsive buyers of your products. The first stage is to get email address by means of a squeeze page. Everybody who fills in the opt-in form becomes a prospect and falls into the funnel. As they receive and read your newsletters, they continue to filter slowly down your funnel, and then you offer them a product.

It need not be an expensive product: a $20 book will be enough to start with, and everybody who buys it establishes themselves as a customer and falls further down the funnel. Many will not make the purchase and your funnel will become narrower, but you can calculate at each stage how much narrower it becomes. As you offer more expensive products, your funnel will become narrower and narrower, till at the end you have customers who are very responsive to your offers, and it is them from whom you will make the bulk of your money.

Your funnel begins at the front end, which is where all of your marketing tools are. Whether you use SEO, pay per click advertising, Web2 promotion, ezine advertising and any of a large number of lead creating techniques, your objective at the front end is to get an opt-in, which is basically a volunteer jumping into your funnel.

At the front end you are look for people to give you permission to contact them. Once in the funnel, you start the process of qualifying and disqualifying leads. Disqualification is an important part of a sale funnel You must spend the bulk of your time on qualified leads, who are interested in your products, not those who have little interest. Your front end is about capturing leads, and keeping those that show interest in what you have to offer.

You don’t make money at the front end, just fill your funnel. The back end is where the money is made. Your back end customers have filtered down the funnel, opting for free offers, and paying initially for inexpensive items, then other higher priced products. At the back end, they are exposed to the highest priced products such as audio and video products, seminars, mentoring or even highly priced ebooks.

Your sales funnel allows you to analyze every step of the process and decide where your efforts are best expended at any one time. Internet marketers that use sales funnels have a more focused route to follow, and are on top of their business day after day, and fully aware of the potential of their lists and how to maximize them. That is why you need a sales funnel to maximize your business potential.

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