The Sales Funnel Formula – Simple Edition
Step 1: The End Game
We always start with the end in mind. In order to create the best actions steps for your sales funnel, we have to know what is the final destination for your target audience. I instruct my clients to use the SMART goal formula.
Step 2: The Locker Room
Step 3: The Players
- 3a – What is your VIP offer or product?
- 3b – Do you have a suitable mid-tier product that aligns well?
- 3c – Pull one step from your VIP offer or select a low-priced product idea to offer as a lead magnet.
- Use a lead magnet to generate buzz around your village. This is the first step to gaining authority in your industry. Your lead magnet should be high-value – give them a glass of milk but do not give away the cow aka high-value offers a solution to an immediate need but it does not solve all of their problems. It’s important that your lead magnet attracts your target audience, so when choosing your lead magnet make sure it is relatable to the people you described in step two of The Sales Funnel Formula AND aligns with your final product offer.
- Increase engagement with a moderately priced solution that serves as a how-to. I started my business my offering digital products. I didn’t introduce 1:1 coaching until almost two years in. Digital products were the perfect compliment to my speaking engagements and it did not require me to carry around a carload full of “stuff”. Another great thing about digital products is the versatility they provide. They are easier to upgrade when needed and the depending on the depth of the product you can price them as low or as high as you want. A key thing to remember with this funnel is that any product any level should over deliver on your expertise. It should give your unique client match everything they need to solve the problem the need help with.
- It’s not about the content, it’s about the transformation you provide. When I first started adding a 1:1 coaching option to my business, I sucked at selling them. Not because I lacked the skills to produce at this price point (and in some cases 5x higher) it was because I thought I was selling the service. The truth of the matter is, VIP is about the transformation you provide. It’s about how you use the content in your expertise to rock your client’s world. This VIP level is perfect space for 1-day intensives. In 2015, I was a “working femalepreneur”. I was still in a full-time position and the demands of my position were bananas. That didn’t deter me from goal. In fact, I was able to hit my first six-figure year in business in 2015 while also spending more time on the road than I did in my home. Offering VIPs was the perfect compliment and why I also suggest them to femalepreneurs who want to create a high-end product before divorcing their cubicle lifestyles.