What is a Profit Funnel?
The concept of the Profit Funnel provides a common sense approach to selling. You start at this point and continue to build on that success. Over and over again, you can use the Profit Funnel to create new contacts within an existing client, perhaps at different locations or different departments.
When it comes to developing your ideal profit strategy, there are several elementary principles:
✔️ Start from the beginning. Get your foot in the door with a product or service that is relatively inexpensive and can be identified immediately with a need.
✔️ Look for new opportunities. Broaden your business dealings with your client by identifying mid level products that you can offer to your customer.
✔️ Anticipate needs that may happen infrequently. You may have some high level services or products that will make a great impact on something your customer does once or twice a year.
✔️ Deliver what you promise. All the goodwill that you have built up can be blown completely away with one simple failure to deliver what you promised. Be honest about what you can provide.
Learn more about Insutanto Funnels and see how easy it is to effectively grow your business.
Low Ticket Product Ideas
When you think in terms of low ticket products or services, you are talking about items that usually carry no more than a $27.00 price tag. The most common average range for a low ticket item would be in the $5.00 to $9.95 range.
Of course, in order for those low ticket items to keep a steady flow of basic revenue, there is the need to promote your offerings and entice new clients to give them a try. Here are a few ideas that may help you promote your low ticket offerings to fresh faces.
Short Audio Sessions
Trial Membership Offers
Trial Software Offer
If software is involved in your product or service offering, you may also want to provide a demonstration version of the software that is good for a limited amount of time. Trial software should be representative of what the full version does, but you want to make sure that the software cannot be reconfigured to get around the limited time usage.
Promoting your low ticket items will keep your company moving along, providing the operating capital that you need to enhance your offerings and also develop more high priced offerings as well.
Mid Ticket Product Ideas
Having established yourself with some of your low ticket offerings, you will want to investigate the potential for up-selling your client by creating interest in your mid ticket products and services.
For the purposes of the discussion, you may want to think of mid ticket items as being priced in the $37.00 to $67.00 range per unit. Here are some examples.
It seems that no matter what the type of product or service that is offered, an electronic book will be an ideal way to generate interest. An eBook can be attractive because people like to read, eBooks are easily stored, and they are often free or available at a fraction of the cost.
Providing a few online excerpts from the book as “hooks” will entice people to take the few moments needed to download the book and will also increase the chances they will actually read it after downloading.
Paid Membership Sites
Software / Scripts
Software that fills a need with your customers can be a great thing. Depending on where you draw your majority of clients from, this can be just about anything from software that helps to catalog plants to software that helps to design a home accounting systems, to software that can be used to track sales efforts.
Identify and anticipate needs within your client base and then come up with the software that will meet those needs. Keep in mind the software can cover just about any subject you want. For development ideas, why not query your current clients?
Audio / Video Sessions
Audio/video sessions using the Internet can revolve around all sorts of subjects, from how to fix a flat tire to detailed sessions on fixing broken relationships. They can include travelogues to exotic and distant places, helpful guidelines in dealing with a legal matter, and even something as simple as preparing a meal in twenty minutes or less.
Mid ticket items are a great way to grab both a larger chunk of per unit profit, as well as create reliable revenue streams that you can depend on from month to month. Get some input from your existing customers and develop a nice suite of mid ticket offerings. You will be glad you did.
High Ticket Product Ideas
No suite of products or services is complete without a “diamond” level. When you think in terms of high ticket products and services, an average of $297.00 to $997.00 is a nice average range. Of course, there is nothing with going for high ticket products that are $1,000.00 or more, depending on how they relate to your other products and the demographics of your client base.
Here are some ideas for high ticket offerings that may be a great fit with your business model.
Coaching / Mentoring
There is plenty of demand these days for professional coaches and motivational speaker. All across the country, people whose entire purpose is to inspire, instruct, and help people identify where they want to go in life are raking in very nice fees.
Among the mentoring sessions you could offer are such topics as how to defuse an angry customer, how to get a customer to tell you what is really bothering them and how to bring a former customer back into the fold.
Exclusive Membership Sites
Lucrative Service Such As Copywriting
Support services are something that will always make an impact with businesses. By offering to take over such tasks as writing copy for new ad campaigns or sales and marketing collateral, preparing brochures, and editing other basic types of correspondence that the company uses regularly, you can save them a bundle and make a nice bit of profit for yourself.
When it comes to providing high ticket offerings, knowing what your resources are and how well those match up with needs within your client base will help lead you to that type of high ticket products you can provide immediately, as well as help you prepare a laundry list of others that you hope to have set up and working in a short time.