Info Product Sales Funnel Profit Mastery
Generating profit via information products is a lucrative way to leverage your knowledge, talent, and skill to build a business. To do so, especially online, it helps to develop information product sales funnels to help your audience make and continue contact with you on a scale that will encourage them to purchase the items you recommend for them.
The Benefits of Sales Funnels
Using a sales funnel to help you automate a lot of the process of reaching your audience and then converting them to paying customers is an excellent use of your time. You will look like a big business that goes above and beyond for its customers.
Reduces Your Work Load
Setting up an effective sales funnel means that you need some form of automation for it to work well. Use autoresponder software like Aweber.com, Convertkit.com, or others that allow you to send automated messages with affiliate links.
Increases Return on Investment
Autoresponder software isn’t really an expense, it’s an investment. That, along with automated landing page software, and a good shopping cart like Amember.com filled with the right content can set you up to make money in your sleep. This is not a pipe dream either. If you go through the process correctly, you’ll be surprised at how much you increase your ROI.
Enhances Customer Relationships
By putting people on your email list, you get the opportunity to communicate with them at a closer level. You can send messages to them several times a week about any topic that you know they’d want to know about. Ensure that you’re educating, informing, and engaging in a way that matches your audiences needs based on their place in the buying cycle.
Helps You Create Content That Has Purpose
Developing sales funnels for your information products will also help you plan, create, and publish content that has a purpose. You’ll be able to look at the stage your audience is in during their buying cycle, so you will be informed about the type of content you need to get the results you desire from your audience.
Allows You to Scale Your Business
The best way to scale your business is to create more products and services that your ideal audience needs. However, that is a lot of work launching all the time. Instead, you want to focus on making offers that your audience wants in the place they are. You’ll end up being able to create more and promote more due to the automation process.
Creates Passive Income Streams
Once you have a funnel set up for any of your information products, if you create products that are evergreen (or at least can be sold for a longer than one season) you’ll create sources of income for you that turn passive. You’ll earn income in a year from the work you put in today using this method. Imagine how that can build up over time of creating new offers with fully functional sales funnels. The potential is truly endless.
The benefits of sales funnels make it worth it to put the work developing your funnels in up front. In fact, the benefits truly make it impossible for you to ignore the value of sales funnels in your business. You need them regardless if you’re selling information products or something else. Sales funnels work. Sales funnels can explode your business. Let’s get more into how you create sales funnels that work.
The Customer’s Journey Through the Buying Cycle
Essentially a sales funnel is created based on the journey your audience takes from the first contact with you, through your email list, and purchasing your products and services. They typically search for information, express interest, consider your product against someone else’s product, and make their purchase. It continues after the purchase again through repurchase.
Let’s first try to understand more about the buying cycle.
This is when your audience is searching for information and solutions via search, social networks, and other research. They are just now becoming aware of different solutions for their problem. At this point, you need to deliver information to them such as blog posts, social media updates, curated content, and more to educate them about their problem and the potential solutions.
They are now aware of their problem and are aware of you. Now they will express interest by subscribing to the lead magnet that you designed just for them. At this point, they’re going to want to compare the information they’re gathering so they can hopefully choose the right information and buy the right product or service to solve their problem.
Once you get someone to sign up for your list, it’s time to educate them. You’ll want to send emails that validate their decision-making abilities, as well as send product-related emails and even video. This helps them learn about your product in addition to how it solves their problems better than other solutions.
Cross promote by inviting them to follow you and like you on your social media platforms, so they don’t miss out on important information as well as more engagement. Send questions via email in the form of polls. Ask them to submit questions in a response email. Anything you can do to increase engagement the better.
This is the point when they usually decide and buy something from you. However, it’s not over with the sale. Transactional emails are the most opened forms of email communication and can be leveraged to increase customer satisfaction as well as get more sales for other products that are complementary to their purchase.
After the sale, it’s not over. In some ways, it starts over. You can literally turn the funnel upside down and start over-promoting to the people on the list things you believe they’d be interested in that are complementary to what they bought or a step up a level or otherwise needed. This is how you will improve your return on investment, by turning buyers into repeat buyers.
In order to develop a funnel appropriately, it’s important to understand your customer’s buying cycle. If you can learn their buying journey, you’ll have an easier time creating the content you need to develop for them at each stage of the process. Now that you understand that let’s get to the process of creating your information product sales funnel.
Create Your Information Product Sales Funnel Step by Step
Creating a sales funnel for your information products so that you know what type of content you need, based on the stages of the buying cycle, will ensure that every piece of content you create has a purpose.
You will no longer be creating things as much on the fly (unless it’s industry news or a fun event or idea that just came up) that have no reason for existing and don’t produce results. You’ll know what content you need.
Step #1: Know What Main Product You Want to Sell
Sometimes this is called a flagship product. However, a funnel can work with any product including a freebie or low-cost one. Most of the time you want to build your sales funnel based on your flagship product using the other products as a lead into your biggest main product. You can though, build out a funnel for every single product to help you with the content you need to create.
Step #2: Identify the Segment of Your Audience Who Needs It
The truth is that this should be the first thing you do. However, most people tend to create their product first, which is why it’s in this order. If you create a product knowing who your audience is first, you’re going to be a lot more accurate. However, if you already have the product take some time to research who will need it so that you can understand who they are and how to communicate with them. When you know who needs it, you only need to make them aware of it, and let them know why yours is the best choice.
Step #3: Develop Content for Your Audience Based on Your Promotions
You’ll need content for social media, blogs, email, and your freebie (lead magnet). For example, if your flagship product is an information product about “How to Become a Bookkeeper” you should create content that your audience would be interested in that piques their interest in becoming a bookkeeper. Then put that content in front of them where they can see it.
Step #4: Convert Audience to Your Mailing List
Your main goal when you communicate with your audience besides educating and informing them is to convert them to your email list. There are numerous ways to do this. They can get on your list via purchase, a freebie downloads or simply by signing up on their own for your newsletter. These days, most of the time, they’re going to need an incentive such as a low-cost product or free product that they can download in exchange for an email address.
Step #5: Educate Your List Members
Once you have people on your mailing list, you can now educate them in a new way more directly via email. You don’t want to stop putting educational content on your blog, on social media, and anywhere your audience gathers. Of course, you want to put the meatiest best stuff in an email to the audience who has shone that they’re interested in what you offer. At some point, during this process, your audience will choose to purchase from you or someone else. Ensure that the information inside leads toward either purchase or self-unsubscribing from the list.
Step #6: Nurture Your Customers
Once someone becomes a paying customer, the nurturing should not end. Always send thank you messages, congratulation messages, and information that makes them feel appreciated and valued. Invite them to follow you on social media. If you have a private group, invite them to join you in that group. Within a reasonable amount of time after purchase, send a survey asking them if they need help with something. Later, you can even ask them to help you with the creation of a new product.
Step #7: Repeat This Process
You can use the information you know about the customer to start recommending other products and services that you either created yourself or that you earn commission from as an affiliate. You can also send information about other problems they likely have leading them back to your blog with the educational content that they need to learn. By doing this you can educate them about the problems and lead them to the solution again.
Sales funnels work because you’re creating content for each stage of the buying cycle that is designed to accomplish something specific. You’re ensuring via knowledge of your ideal customer, that you put the content you create in front of them at the right point in their journey through the buying cycle. The rest essentially takes care of itself.