Thought I might see how to make a few quid using what I already know and leveraging off stuff others can teach me. So....
I found this guy John Chow and love his work.
He has some wonderful ideas. I'll let you read the compilation I made of some of his stuff and don't forget to have a look at the videos.
The four components (the lead magnet, tripwire, core product, and profit multiplier) of a proper sales funnel
Firstly in this training by John Chow, we break down the four components (the lead magnet, tripwire, core product, and profit multiplier) of a proper sales funnel. The reason most new Internet marketers don’t make money online is because they are missing the last two components. Without them, they’ll be lucky to break even on their advertising money.
When all four components are in place, the sale funnel can make you very rich in a very short time. That will allow you to live the Dot Com Lifestyle. John Chow will be breaking down, and going into the details, of each component in a proper sales funnel.
Sales Funnel Creation Step 1 – How To Create a Lead Magnet
Previously John Chow walked you through the four components of the money-making sales funnel. Today, John’ll break it down into individual steps, starting with the lead magnet.
The lead magnet is the most important component of the sales funnel. This is something you must get right, or your dreams of living the Dot Com Lifestyle will just remain a dream. A lead magnet is a free item that you offer in exchange for getting the email address of your leads. Examples include ebooks (like the Ultimate Online Profit Models), downloadable software, video course, etc. The more perceived value the lead magnet offers, the higher the opt in rate.
While the lead magnet is extremely important, how you present it your leads is just as important. To get the highest opt in rate possible, John Chow uses a service called Lead Pages. Lead Pages. Lead Pages is the best lead capturing service on the Net. Cheapest is $25.00 per month paid annually.
Step two of the sales funnel creation process, and that is the tripwire.
Last time John Chow went over the first step to creating a money-making sales funnel, which was how to create a lead magnet.
This time John will teach you step two of the sales funnel creation process, and that is the tripwire.
The tripwire is an extremely important component of the sales funnel because it’s what separates your leads from your buyers. Getting leads into your funnel is nice, but it won’t make you any money until they buy something. This is where the tripwire comes in.
A tripwire is a low priced ($9.95 to $297) product designed to get you a customer. Its job is not to make you money (that will come later in the funnel). In fact, you should be jumping for joy if your tripwire product covers your ad spend.
Examples of John's tripwire products include Blogging with John Chow, and IM John Chow. John Chow also licenses Tripwire products from MOBE/MTTB.
John Chow finds licensing products to be a better use of his time and resources. Creating your own tripwire can be extremely expensive. The sales page for Blogging with John Chow cost $7,500. Then there’s the cost of creating the product, affiliate manager, etc. This is why John Chow no longer creates his own tripwire. He can license them from MOBE/MTTB at a fraction of the cost.
Sales Funnel Creation Step 3 – The Core Product
Welcome to step three of the four-step million dollar sales funnel.
Step three is where we make our money. The core product is a high-end product that cost over $1,000. It is only offered to customers who have purchased our tripwire. The high profits built into a core product will more than make up for any losses created by the lead magnet and tripwire.
Lack of a core product is the number one reason new Internet marketers don’t make money online. They spend all their time and efforts promoting low priced products that barely cover their advertising expense. What they failed to understand is, if a customer buys a low priced tripwire product from you, he’ll buy a high priced core product from you. If you don’t have a core product, then you’re leaving all your profits on the table.
Watch the video below to find out how to make and market a core product. If you need a step-by-step blueprint, then download the John Chow eBook. It will show you how he makes a six-figure monthly income.
Sales Funnel Creation Step 4 – The profit Multiplier.
In discussions about how to create a money making sales funnel, the importance of the having a big-ticket core product and a profit multiplier was highlighted. Without these two elements, your sales funnel will never be able to pull in the really big money.
Big Ticket = Big Profit
Most Internet marketers shy away from high priced products because it takes more effort to sell them. While it’s common for a $10 info product to be sold with a sales letter, this can’t be done with a $10,000 product like a Mastermind. To sell a high-end product, a much more personal approach is required, and that generally means talking to the customer on the phone.
Most people hate getting on the phone and avoid it like the plague. The Tel line on John's business card has no phone numbers listed. Instead, it says “You don’t call me, I'll call you!”
The Solution – Your Own Phone Sales Team
How does John Chow make big-ticket sales without getting on the phone? He lets people like Max Aria do it for him. Max is a member of the phone sales team at MOBE and MTTB. All those big paydays you see John Chow make, like $30,000 during dinner and $8,000 during lunch, Max made those for him.
Below is a video interview John Chow did with Max during a recent trip to Costa Rica. The man is a machine. Shortly after the interview, he was back on his Skype calling leads up and making money for the MOBE/MTTB partners. Max can do the same for you.
Setting up your own phone team is a very expensive affair. This is why John Chow licenses a system like MTTB. They already have everything in place. John's job is just to send the leads into the sales funnel, and let the phone team takes over once the lead buys the tripwire product.
More than 60% of his blog’s income now comes from products that cost more than $2,000. These are the core products and profit multipliers. Most Internet marketers don’t have them because they don’t want to get on the phone. The solution is simple. Get your own phone team either by spending the big bucks to create one from scratch, or license a system like MTTB, that has a phone team already in place. For John, the choice is easy.