The Product Funnel: What Is It And How Do I Create One?

By: Joseph Gold
Submitted: 2008-10-13 14:05:45
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Have you created a product funnel yet?  If you are unfamiliar with the term, it is a marketing method in which you create multiple related products in order to offer them to interested customers.  For example, you may have an existing customer in a given niche who has signed up for your inexpensive or free newsletter.  Your product funnel consists of similar products that may also be of interest to this customer, but that are more profitable for you.  If you are currently using this method but it is not creating business for you, then you need to take a look at what you’re doing to make sure that you are properly utilizing this strategy.  Let’s take a look at some of the fundamentals of a successful product funnel.

First of all, you need people who are interested in your product.  Lots and lots of people.  You may only have one person in hundreds who is an actual buyer.  With this in mind, you need to find thousands, or better yet – millions, of qualified potential customers in order to be successful.  How do you do this?  You need to let it be known that you are an expert in your niche and that you offer products that your customers need. Basically, you need to advertise yourself and your products to those who will be interested in them.  The more people that you have in your funnel, the more profitable it will be, as a general rule.

We also need to discuss your product creation.  Do you have a series of products that satisfy the needs of your market?  Buyers come in all shapes, forms, and economic levels; therefore, your products must acknowledge and reflect this.  You need to have some inexpensive products for the tentative or lower-income buyer as well as some high-end and moderately priced items.  This way, you have something to offer each potential customer, possibly beginning with an inexpensive eBook on up to the high-end individual consultations.  The more variety you have in your product offerings, the more likely you will have something of interest to each member of your customer base.

Once you have your products created and are offering them in your product funnel, be sure to update, improve, and add to the existing product line.  As your customers use your products, their needs will change.  Keep them happy with new and interesting creations that will encourage repeat business and will establish you as a progressive expert in your niche.  When you offer high-quality, informative products, your customers will more likely come back for more or recommend you to others.  In order to reach this goal, you must provide them with products that continually provide a product or service that is of use to them, that meets or exceeds their criteria, or improves their lives in some way.

But let’s take a few steps back and take a look at the first step again.  How do you find people?  You can’t sell products if no one knows about you, right?  Maybe you should start with a series of articles that establish you as an expert in your niche.  Create a newsletter that potential customers can subscribe to when they visit your site after reading your articles.  The more you can advertise your services and products to others and show yourself as providing whatever they are looking for, the more likely they will be to buy from you.  Remember, the more qualified, interested people that you have, the more products you are likely to sell.

We’ve seen product funnels at work when shopping online.  “If you like this product, you may be interested in this or this…”  Make your product funnel creation work for you and your own business.  If your currently using this method with little success, keep in mind the tips we’ve discussed and re-evaluate the methods you’re currently using.  Here’s to your success!

Article source: Expert Articles