So You Want to Perfect Your Sales Funnel For Your New Product Launch
What is the magic formula that will get you maximum return on your investment of Blood, Sweat, Tears, and money. This is the big question, and you need to be 100% correct in your strategy, or it may just end in more tears.
OK so maybe I was a little harsh there, but the fact still remains that if we don’t get it right our product launch may not (to put it mildly) return all that we had hoped, and even worse spent long hours behind the keyboard planning for.
Well never fear because with the right strategy you will get it right!
Below you will find an outline of exactly how the “Big Dogs” arrange there launches and sales funnels to bring in Mega Bucks.
The first thing you need to do is attract to yourself and the product that you are about to launch. As many JV (joint venture) partners as you can. More about this later….
Secondly you must have a killer “sales page” If the sale page is mediocre your results will be mediocre at best. No matter how hot your product is JV Partners will only get exited about the amount they can add to there own bottom line, and if you have limp launch first time around it only makes sense that you will have a much harder time trying to convince marketers to support you a second time. We will cover this fully later in this post…
So let’s get it right the first time. The old adage “first impressions count the most”. Is never more true than on the internet where very often it is the only yardstick people have to judge you by.
How to build a top converting sales funnel.
There are product launches in to Internet Marketing field almost every day of the week. However fewer than 10% make any significant income for the marketer.
The above is due mainly to poor preparation. Weather you are launching an E book, instructional video series, membership site, or other related product. You need to maximize your profits, and even more importantly if it is your first launch. The profits of you hard won affiliates/JV Partners.
This means giving you prospective customers every chance to purchase not only your primary offer, but also offering them opportunity to buy a little extra once they are attracted into your sales funnel.
Below I have outlined a simple sales funnel in graphic form. We will discuss this in a moment. I will also at this stage offer you a free case study video that outlines a successful Warrior Forum Special offer Launch. This shows the methods we are examining here being put into action….. Here is the link..
Squeeze the most from you product launch…
Of course although we have set out to make money from the launch of our product. Just as importantly we need to be thinking about building our opt in list for the future. So a squeeze page wit an irresistible offer for those who decide that our main product is not for them today is essential.
Be sure that the free offer you make here is for a worth while product, as these are your future customers. Even if they don’t buy from you they are a valuable addition to your list, and there are many thing we can do to capitalize on a good list. I will be making a post on List Building later.
One Time Offers (OTO’s)
No launch should be without a One Time Offer.
This single addition to your sales funnel can increase profits for you and your JV partners by significantly. this can be an extra product that compliments or makes the use of the main product easier or saves time for the marketer buying it.
Offers in this category are commonly software that automates some laborious tasks required to make the product work efficiently. Extra research, or reports into the market place in which the front end product covers i.e. The best markets to target with your new Pintrest Bot, or “How I made $10,000 with $500 worth of advertising on Facebook. I am sure you can come up with some better ones related to your own product.
Here you can offer your audience the chance to buy a version of you main product that has slightly less whistles and bells than the full version for a reduced price. For example you could offer an a WordPress plugin in you main offer with unlimited use on any WP blog that you own. Maybe the down sale part of your sales funnel would be to offer the product with a licence for just 10 sites.
Carrying along with WordPress Plugin theme. This could be a developer licence allowing the purchaser to use the software on clients site as well.
It is Very Important To Include A Free offer to build your list.
In the same vain as before this could be limited use of your product on one site only. As any serious marketer will have several sites this could be a very good “Puppy Dog Sale”
Keeping your JV’s Happy
As I pointed out before the primary objective of your early launches is to earn money and also keep your JV partners happy by making a good impression. And the very best place you can make a great impression with your affiliates is in there pockets.
The Sales Funnel layout I have set out above will ensure that your affiliates get a Earnings per click rate or EPC, but to really get the ball rolling and fire up your JV partners. There is no substitute for a good old fashion competition.
So I would suggest that you set your commission rates at around 70 to 75% and offer a range of interesting prizes for top affiliates, and maybe a random prize where there is a chance for the guys further down the marketing ladder to get a taste of success.
This will give you the maximum bang for your prize money buck. Motivation, Motivation, and more Motivation. We are dealing with very competitive people here. Well I am sure you are reading this because you have the will to win…………………
More on Sales funnels Later…………….. PS. If you missed the Free case study video above <<Here it is again>> Enjoy