Wednesday, August 5, 2015

Make MUCH More Money in MUCH Less Time with a Product and Service Funnel


If you are a coach, consultant, speaker, or another type of "expert" entrepreneur, and all you offer are big-ticket products and services, such as keynote speeches or large $1,000+ coaching and consulting packages, then you are missing out on a HUGE market of customers and clients and multiple income streams.  You also are working a lot harder for your money than you have to.

First you MUST MUST MUST have something of GREAT VALUE that is FREE in EXCHANGE for an email address.  Your email list is your pot of gold. Your give-away must be something that is so juicy and urgent for your target customers and clients, that it can't be passed up.  Sorry, a "newsletter" doesn't cut it anymore. Yawn. You have to be more creative.

Then, you want to have at least one product or service at each layer of the funnel, so that you can meet people at their respective price points and work them down your funnel into higher ticket items.

Some people may only ever buy the $25-$100 item, but if you didn't have one, you'd miss out on that revenue completely.  And the people who bought your lower-priced products and services are more likely to eventually buy the higher ticket ones, because they got to know, like, and trust you first.

It's much harder to sell a $5,000 product or service to a stranger than someone who has been a customer before.

So what kinds of things can you sell in your funnel?  Here are some examples.

Note: Product and service pricing is different for every business.  Some webinars might be $25 and others might be $100-$200 or more. It depends on your content, your customers, your brand and expert status, demonstrative results, and other factors. 


FREE
  • e-Book
  • short report
  • audio or video series
  • daily/weekly tips
  • first chapter of a longer book 

$25-$100
  • book or workbook
  • a paid teleseminar or webinar
  • a ticket to a live 1-2 hour presentation
  • a subscription to a magazine or membership website

$100-$500
  • a system or toolkit (a set of templates)
  • a 4 to 6-week webinar/teleclass
  • a consultation or coaching session
  • a 1-2 day workshop
$500-$1,000
  • a speaking fee
  • a smaller coaching/consulting package
  • an action plan
  • a higher-level conference/workshop
$1,000-$5,000
  • a speaking fee
  • a retreat
  • a "done for you" product/service (like a website) 
$5,000+ ($10K-$25K-$100K)
  • a keynote address
  • longer-term coaching program
  • corporate/executive consulting

Again each business is different.  A health coach offering a nutrition plan may only charge $100.  While a corporate consultant may do a business plan for $50,000. So the price points of the funnel may be different too.

Ideally, you will be trying different things at different levels of your funnel and see what sells the best.  It's a process to get the right mix, but even while you test and refine, you'll be making much more money along the way and well into the future.

If you are a coach, consultant, speaker or other kind of "expert" service-driven entrepreneur, leveraging the power of groups is the key to growing a 6 and 7-figure business. To learn more, go to www.MoreClientsLessTime.com.



Michelle Demers
More Clients in Less Time


Michelle Demers has worked with hundreds of coaches, consultants, and speakers over the past 15 years on sales, branding, online and offline marketing, and product and service development. She is the Founder and Principal of “More Clients in Less Time” specifically helping coaches, consultants, and speakers to get out of the exhausting grind of one-on-one clients and into the limitless financial potential of group coaching and training programs.  

 Michelle lives and works just outside of Boston and can be reached at michelle (@) resonateinc.net and 203.623.1564. She works with clients anywhere and everywhere across the world.

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