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Table of Contents
Online businesses which are struggling normally assume they have a problem getting enough traffic to their site or converting that traffic when it does show up. That's not usually the real problem, however. More often than not, websites which are underperforming have a funnel problem.
The best way to organize an online business is to build a good sales funnel – which consists of some bait (B), front-end offers (FE), mid-funnel offers (M) and back-end offers (BE). To optimize the funnel, you'll also need three good strategies for Traffic, Product and Communications.
If you can organize your funnel so you can spend two- to three-times more than everyone else to acquire customers, your online business will become exponentially more profitable.
"Ultimately, the business that can spend the most to acquire a customer wins." — Dan Kennedy
"When you implement these secrets, you will transform your website from a flat, two-dimensional company into a three-dimensional sales and marketing machine that allows you to outspend your competitors, acquire an almost unlimited number of new customers, make (and keep) more money, and most importantly, serve more people." — Russell Brunson
While the online world may look like an entirely different beast altogether, the fact is the same methods direct marketers have been using for years to win customers work just as well online as they do offline. Like an iceberg, it's what's going on behind the scenes with your funnel that counts.
Direct marketing has been around for many years and is a well-known entity. To make offline sales, the steps direct marketers have traditionally taken are:
■Advertisers run a small classified ad to get you to ring a 1-800 number for a free report about something.
■They send you a sales letter disguised as a free report which sells a low-ticket product.
■When you buy the low-ticket product, they also include another sales letter selling a high-ticket product and so on.
The online method for making sales is often touted as being revolutionary but when you break it down, the online method is very similar:
■Online businesses offer you something for free in order to get your contact details so they can continue to market to you.
■Instead of using 1-800 numbers and reports, you get emailed information about what's on offer in order to whet your appetite.
■Over a period of time, you enter the company's sales funnel and get offered a low-ticket item to start the relationship. If you buy that initial low-ticket item, you then get offered items which have more value and higher price points. You gradually get used to doing more and more business with the online entity and build a level of trust they will deliver value.
So the marketing methodology is still the same but old media tools have been replaced by new media tools:
Regardless of whether you're using old media or new media, the things you have to figure out in order to market your services or products are the same:
■Who are your dream customers?