If you’re wanting to create a sales funnel and you’re maybe wasting time, procrastinating or maybe it’s never going to happen and you’re kidding yourself If you think it is.
I want to give you a bit of motivation today in the hope it focuses you and pushes you to create your first Sales Funnel.
This is the story of how one sales funnel got me out of $100,000 in debt and pushed me out of a massive rut I had found myself in.
It all started back in 2014 for me. I had originally become interested in online marketing because a guy living in my parents small rental apartment had gone from the stage of making a few hundred dollars working at the local electronic store to generating thousands online within the space of a few weeks.
He had given me some direction, a bunch of reading material then taken off to travel the world with his wife.
Fast forward a few years and I found myself in the position where I had been involved in a bad business deal, become in debt to my family, the bank and my lawyers. At the time the urgent debt I had. That’s the debt that had a time limit on it was sitting at about $20,000 with weekly repayments to the bank. My lawyer who had been helping me with the partnership dispute had completely turned on me and was demanding I pay them within 30 days or they were going to start bankruptcy proceedings against me. As you can imagine it was a very difficult time.
During that time I had been working on a project that related to what I had previously been doing in business consulting. I had created a product and had been selling it for a one time cost of about $197. It had gone well for the first year I’d been selling it but gradually time had been running out for it. I was booking webinars and using online presentations to sell it but it simply was not generating enough for me. It was only just getting me by week to week with my rent and bank repayments. It was at that time that I decided I needed to make a change. I saw at the time that a lot of marketers were using sales funnels to sell their products so I went to work and decided to chop up the product I had been selling on webinars into one main product with 3 additional upgrades.
I connected with some people who were selling products at the time and was fortunate that they were willing to talk and look at what I had been creating.
I split the product up from a $197 to a sales funnel that looked something like this:
$27, $47, $97, $47
So I was actually generating more money throughout the funnel than I had been making selling the product as a package previously. Not knowing all that much about what I was doing I worked hard to upskill and decided to add the product to JVZoo as a product that other people could promote for a 50% commission.
The product itself started off slow, I was desperate at the time though so I was reaching out to everyone I possibly could to show the product to, I had put a ton of effort into making my pages look good using a software and the limited design skills I had.
As I put in every waking moment into ensuring the sales funnel was converting and customers coming in were supported the numbers gradually started to increase. Within 7 days I had generated close to $35,000 off the launch and I was able to pay off all of the urgent debt I had.
The funnel formula had bought a product that from all accounts seemed dead back to life and helped me to generate a significant amount in the process.
I then went to work creating more products and within less than 6 months after that launch I had got out of debt entirely and had $100,000 in the bank by July 2015 when I married my wife now wife and started traveling.
So what changed for me? Why did such a small adjustment in what I had been doing result in such a great improvement in my situation?
It came down to three main things:
1. Affordable Front End
The price of the product being sold at the front end was dramatically reduced. Because I had split the product up from a product that was $197 to a product someone could get a basic version of for $27 automatically my potential audience was increased. People who couldn’t previously afford the $197 price tag were able to get the basics of my product for $27 and then had the options based on what suited them best to upgrade to the other parts of it. I then had more people looking at my product and more qualified people having the option to upgrade. As a result the money that I generated per visitor increased substantially.
2. Congruent Upgrades
Because I had split up a product that was once a package that included a wide range of training, documents and resources relating to the same niche which was at the time selling marketing services to businesses. All of the products were related throughout my sales funnel. This is really important because the more related your products are the higher chance people who purchase your front end lower ticket product will have it purchasing them. It makes sense right? If someone makes a purchase of for example a product based around getting abs it would make a lot of sense to have something in the funnel that was heavily related to getting abs.
3. More customers
Because I setup my sales funnels in such a way that I was selling the front end product at a lower cost I had more people purchasing my products who I could then build a relationship with.
I was able to continue to stay in touch with them regardless of whether they purchased my upgrades or not and as I released more products I had a customer list who were more likely to purchase my products. Sales Funnels not only allow you to split up your offers in a way you can maximize conversions and your customers can pick and choose what upgrades are best for them. They also produce more sales which means your information gets out to more people building your brand more and allowing you to make more sales in future.
I hope this was useful and you’ve learned a bit about sales funnels. Sales funnels has made a huge impact in my life and the way I do things. It’s one of the reasons that we have been building a software over the last 3 years that makes sales funnels much easier. It’s called iGloo and you can start creating your own sales funnels within minutes with his software. More details down below.