Marketing funnel? What’s a marketing funnel?
You know what a funnel looks like, right? It’s wide at the top and tapers down to a narrow opening. At the top, where your suspects enter your funnel they are working at a “getting to know you” level of the funnel.
Once “suspects” get to know you, like you and trust you, they likely will become “prospects” and move on to the next level, which will include retaining you for minor engagements, your simplest services, probably your least expensive ones first Then as they continue, towards that tight, and long-lasting relationship, they begin to increase their spending with you and eventually hire you as their exclusive source.
That’s basically how the funnel system of marketing works.
Look around, you’ll see other practitioners and other solo professionals trying to get prospects to sign up for their auditing or consulting services, immediately, without a trip through the funnel. No build-up of trust, no getting-to-know you or honeymoon period. It’s all wham, bam, thank you ma’am.
Now, look at the big boys. Long engagement periods, close relationships. Lots of reputation and prestige. Clients that are stable and profitable.
How do they do it?
Trust. They took the time to establish their reputation and court the prospect. They built their image and reputation using solid, time tested methods and they filtered their suspects through the marketing funnel.
It’s important to have trust building offerings at each level of your marketing funnel so suspects can continue to get to know, like and trust you, as well as get to know, like and trust your products and services.It’s important to have trust building offerings at each level of your marketing funnel Click To Tweet
And when you offer classic, time-tested, products and services at different price points, you are lowering the financial and emotional risk for your prospects. You are essentially making it impossible for them not to buy from you!
But how can you, as a solo-practitioner offer the variety of products and services at the various price points necessary for your prospects feeling of security and trust as they learn what it is to work with you.
One way is to begin by giving free or low-cost seminars and courses on business and financial management. These can be done independently, or in association with a local institution.
One idea is to approach your local bank and offer to give a free seminar on a subject of interest to a select group of their business depositors or prospects.
Another method might be to approach a local insurance agent or attorney about participating in a joint venture, giving a seminar at a local community center or college.Approach a local insurance agent or attorney about participating in a joint venture, giving a seminar Click To Tweet
Using this system to fill your funnel is easy. You can attract prospects into your funnel by creating a freebie which you offer at the seminar or class (a special report, a mini course, a monthly newsletter, a compliance checklist, etc.) with a sign-up form prominently featured in any materials you offer.
Once you have prospects in your funnel, find ways to get them into more valuable engagements at increasingly higher fees as they go through your funnel.
For example, the second level of your funnel might have a home study course for $47 or a series of teleseminars for $147. The third level might offer a free review or analysis of their HR processes, which could lead to a small two or three day consulting engagement. At the fourth level you might offer payroll services for a weekly or bi-weekly retainer, and the fifth level might offer your monthly consulting services for your standard retainer.
By providing lower price-point products and services as a complement to your services, you will enjoy a hefty cash flow while your good name grows.
Your products are a reflection of yourself and the knowledge that you have to offer. Treat every sale or engagement, no matter how small with the same integrity you would treat a larger one. You never know what connections or responsibilities your customer may have.
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