Are You Still Struggling To Make Money In Your Online Business?? This Million Dollar Sales Idea Will Change Everything
Running a business can often be very frustrating, especially if you’re running your business online.
I know this first hand because I’ve run many. You’re constantly involved in finding solutions and trying to avoid missteps while staying focused on profitability.
You read blogs, subscribe to newsletters, buy a variety of products and services and yet find you still fall short of making the millions of dollars that the latest approach had promised. It’s hard not to become frustrated.
You need to relax because today I’m going to share the only thing you really need to do to bring your business to the next level.
I can tell you in just two words. Those two words are a concept that all successful businesses use every single day. Companies such as Amazon, Apple, McDonald’s, Walmart, Netflix or Costco all use this same method.
The same system works for everyone regardless of whether your particular business is small or large, still struggling or exploding in sales. It doesn’t matter how long you’ve been in business or which market, product or service you sell into. It continues to work across the board for everyone.
To the extent you apply these two words to your business, it will work for you. Your business will grow and you will be successful.
The concept is not difficult to grasp and you may have even heard this before. When all else fails it’s important to go back to the time tested lessons of the past to find what really works.
If you want your business to thrive then you need to use a sales funnel. Nothing in business is random
and nothing can be left to chance. You can’t do anything without knowing what the next steps in the sale process are.
What do I mean by that? I mean that you should not send out a single email, create an ad or introduce a new product or service without having a precise plan of action and reason for doing it.
Why Are You In Business?
Your goal isn’t just to have a business… the reason you’re in business is to make money. not just some money, but a lot of money and to do it as quickly as possible.
You can certainly create products, PPC ad campaigns, websites or email campaigns randomly and still manage to make some money… but, you’ll have to put a whole lot more time and effort into it than is necessary. Planning removes an enormous amount of risk, time, effort and expense.
For you to make a great deal of money and do quickly, you need to create a sales funnel. The sales funnel will guide each person who comes in contact with your business through a carefully designed path to convert them into buyers.
Once you obtain a customer, it is much easier to sell additional products or services in the the form of up-sells, down-sells, special offers or subscriptions to that person.
The cost of selling more goods or services to an existing customer is much less than the cost of acquiring a new customer. This principle is know as the “cost of acquisition.”
When someone makes a purchase from you, you have already overcome the biggest hurdle in making a sale… that hurdle is trust. Trust is the the primary obstacle you must overcome everytime you attempt to make an initial sale. It is not an easy thing to do.
For this reason, for any business to be successful you must maximize sales from each person that shows an interest in your product. Doing this requires having a sales funnel with multiple products at varying price points.
The top of the funnel is everyone in your target market (assuming you did your market research and know who your target market is). Anyone who has ever expressed an interest in your product or niche. Your main job is to turn an interested person into a lead.
So how do you turn a person who doesn’t know you into a potential buyer? By using an “amazing offer” that seems too good for them to pass up.
Your initial goal is not to make a profit. You’ll fail to ever make money if you try to make money at every step along this process. In fact, at this point in the sales funnel you will likely not make any money at all.
You must recognize that most people won’t buy from you the first time they meet you…
It rarely ever happens. No one sees an ad on TV and immediately goes out and buys the product. It doesn’t work like that, no matter how innovative or amazing the product is.
This Is What They Do
What most potential customers will do is take a bit of information from you, and then another and become more interested at each step. That’s why the first contact should create interest and spark curiosity.
You have to leave them wanting more so they’ll continue down the funnel.
You start by giving away something that is worth way more to them than what they are giving you (sometimes just an email address). Could be a free report or free software app that solves a problem for them. All of which a easily available in the form of PLR (private label rights).
It can be anything but, no matter what it is, it has to provide tremendous value. Think about what irresistible bribe you can offer to your audience to get them to give you their contact information.
Now that you’ve got a list of potential sales leads your main focus is to turn them into buyers.
At this point your focus still isn’t to make money from them. I know it seems like it should be since they’ve already expressed an interest in what you have to offer, but this is where most businesses get it wrong.
If you do this the right way, which I’m about to explain, you’ll be ahead of most of your competitors.
Your goal is to turn this lead into a buyer. The fastest and easiest way is to offer them an initial product or service that is extremely affordable. Every market is different so I can’t say what is affordable for your market, but generally, your initial offer to them needs to be sold for no more than $79. $20 is better and $1 would be perfect.
Remember you’re NOT trying to make a profit. It’s to turn this lead into a buyer. There is nothing more valuable than having a list of proven buyers. That is a true an lasting asset that you will profit from for years to come.
Did you think Amazon makes money selling the Kindle? No way!
They lose money each one they sell. Does Amazon care? They know that each person they can convert to buyers with their initial, loss leader product has the potential to deliver major profits down time and time again.
At this point you’ve got this buyer to make two transactions with you. First they gave you their contact information and then they bought a loss leader product from you. You now have a list of buyers… a valued asset.
The next step in the sales funnel process is to sell them a product that you make a small profit on. You most likely have products or services like this for your business. If you don’t, you should.
Most businesses never become successful because they make the mistake of offering these products to customers first. Like I said, if you run your business this way, you may make some money, but you’ll never get to that coveted success level you’ve always dreamed about.
Remember, nothing you do in running your business should be random. Your main products exist to get customers to become more familiar with your company and comfortable with buying from you. You are sending a message to them. You are offering something of immense value and you can be trusted.
The Million Dollar Sales Idea Follow-Up
It’s the next step in the sales funnel where things get interesting (and very profitable).
You’ve heard the terms up-sell and cross-sell. These are ways businesses make more money per transaction. While your flagship product may only make you some money, the up-sell, cross-sell or down-sell you include with it, will make you a boatload of cash.
You’ve seen these kinds of offers many times. Maybe you just didn’t realize it. When you put something in your cart on Amazon, the next thing they show you are all the other products people who have purchased “also bought this.”
When you go to a clothing store and buy a dress, you’ve been told by the sales associate that a lot of people like a certain belt or hat to go with your item. When buying a TV from Best Buy the sales associate offers you a warranty or to have Geek Squad install it for you in your home. These are all ways companies make huge profits, for virtually no effort or cost.
Think about what you could offer as an up-sell or cross-sell to your core products. What can you bundle with your offer? This is where you start to make serious money…but it doesn’t stop there.
To make your sales funnels wildly successful you’ve got to do one more thing. If you do this, I promise you, you’ll see your sales numbers explode.
After you’ve sold a customer one of your flagship products you need them to come back and buy from you again. How do you do that?
You must STAY IN CONTACT with them! You contact them regularly and frequently and not always with an offer. I like to do this through my blog posts. I send out blog posts 3 times a week. Sometimes I make them an offer to buy something and sometimes I do not.
Whatever I send them is an opportunity to keep my business fresh in their mind. I want to be there when they decide they are ready to buy again.
Do this and you’ll not only create a new customer, you’ll create a customer for life. This is how you build a thriving online business and your own million dollar sales idea.
Believe me, it’s a lot easier and way more profitable that the random approach will ever be.
If you’re not using a Sales Funnel in your business than you’re going to have a very difficult time succeeding in your online business. Luckily there is a way for you to easily create endless cash pulling sales funnels regardless of of the type of business your in.
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