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Using The Funnel Concept To Sell Your Knowledge
Written by: Stephen BeckArticle Overview: The "sell your knowledge" funnel process is an excellent illustration of how to build a business selling information over the internet. Once you understand it, you will know exactly how to build your business online.
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Using The Funnel Concept To Sell Your Knowledge
The "sell your knowledge" funnel process is an excellent illustration of how to build a business selling information over the internet. Once you understand it, you will know exactly how to build your business online.
Have you ever seen a funnel before? If so, you know that it has a large opening at the top and a small opening at the bottom. You can fit a lot of items into the top of the funnel. However, only a small amount of items can fit into the bottom of the funnel. This is because the bottom is tighter and has a limited amount of space available.
This funnel is exactly how the process that you use to make money on the internet works. It is easy to sell your knowledge if you are offering it for free in a report. It becomes a little more difficult when you charge $10 for information. It becomes even more difficult if you are charging $37 or $67 for additional information. This is why you need to have multiple products in your eBook business.
By having a number of products at different price points, you give your customers high quality information that they can use. What this does is build trust in you and makes them more willing to spend even more money with you. As they progress through your marketing funnel, it becomes more difficult because the price point creates more friction and hesitance. A higher price point requires a deeper level of commitment.
Increasing the level of comfort for your customer is key to increasing the income from your real online business. You cannot expect someone who is not familiar with you to immediately invest a significant amount of money with you. You need to prove yourself at a lower level before they entrust you with more of their money and time. Remember, it is not just about the money; more time is required from the customer to implement your higher priced programs as well.
The funnel concept is critical to understand if you ever hope to make it big in internet business. Some people only focus on finding one item to sell. This is fine at the beginning, but eventually you want to graduate from this limited level of thinking and think of many ways that you can provide value to the customer base that you are serving. The more value you are able to provide the more money you are able to make.
By focusing your efforts on providing value, you will build up the level of trust that your customers are willing to invest in you. Your product portfolio funnel should illustrate this by including escalating values of products with escalating price points. Now you should not expect to have this coming out of the gate. However, you do want to have this as something that you can shoot for and build towards because it is absolutely essential if you want to build a big business when you sell your knowledge.
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Article Tags: business online, funnel, make money online
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About the Author: Stephen Beck RSS for Stephen's articles - Visit Stephen's website  Click here to visit Stephen's website   How To Use Marketing Webinars To Grow Your Offline Business Sell Information Products And Handling Payment Transactions More Reasons Online Webinars Are Events Worth Putting on Your Calendar Dealing With Free vs Paid Information Products In A Home Internet Business Getting Your Real Online Business Listed in the Search Engines |
Related Forum Posts
Hello all...
- Hello everyone - this is just a short intro.
My name is Evie Parsons and I'd just like to say hello to everyone.
As everybody knows that nowadays forums are the best source of Knowledge,
and through forums we can learn a lot.
I look forward to meeting you all and wish you the best of success.
Your advantage over others
- Sell using your USP - unique selling proposition.
Why should people buy from you, instead of your competitors?
Think about it, why are you so great?
It may be a hard question, but finding the answer can multiply the effectiveness of any advertising or marketing activities you undertake.
Re: Service Or Product?
- I agree with starting a Service-based Business in the economy. Here is what I think is critical:
1. Researching that your Service business has a market.
2. Marketing the Service with as much leverage as possible.
3. Product-izing the Service (aka Package Expert Knowledge). This will only help elevate you as "the" expert in your niche and make you accessible to people in different price points.
Re: Great start, but no finish
- My advise is FOCUS on your business.
Focusing is the main factor to succeed on business. If you have a great idea, then follow it only, don't look anywhere else. It is especially essential in an online business. Because there are a lot of mind blowing sales letters promising millions dolllars or overnight success, people find it difficult to concentrate on one business and they lose their energy.
Concept is simple.
1- Have a good idea;
2- Build your business on it;
3- Monetize your business;
4- Promote it;
5- Build list of responsive customers;
6- Maintain You Business.
Focusing and not fearing from competition (instead you can learn from competitiors) are main tips of billionaires ,BTW.
Orxan
Re: When do entrepreneurs retire, if ever?
- Why would you ever retire when you love what you are doing?
Sell the business and start another one maybe - but retire - NEVER!
You should all read, The 4 Hour Work Week - By Timothy Ferris. He talks about building your business so that you can take mini 'retirement's throughout your life, instead of saving it all up for when you are old.
Great concept - what do you think??
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
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