Welcome to Part 3 of this 5-part series on what we have referred to as our “Whirlwind of Success.” We have covered our Lead Magnet in Part 1, and Customer Acquisition in Part 2. If you missed those, be sure to check out my previous 2 posts. Today we are halfway into our Funnel build and we will be discussing “Maximizing the Value”.
What do we mean when we say Maximizing the Value? Let’s look at the definition of Maximizing – “make as large or great as possible, also, make the best use of” and the definition of Value – “the regard that something is held to deserve; the importance, worth, or usefulness of something.”
Now that we know the definition, we can say our goal at this level of our funnel is to give the greatest value that we possibly can to our customers, but also increase our sales at the same time. We can do this in different ways. “Upsells” are where we make other offers that complement our original offer… Our Upsells are typically slightly higher priced Items than the original offer and are designed to encourage the customer to say “YES” instead of walking away. At this stage in the funnel is where we are attempting to cover any ad costs that are associated with acquiring that customer.
For Example: We have used “Avoiding the Pitfalls” as our Lead Magnet. We have used “The Iceberg Effect” as a tool for customer Acquisition, now we say to our customers…”Since you liked THAT, you may also be interested in THIS…
Maybe offer our customer a “bundled type offer,” maybe 3 items that would be helpful in building their business or a “BOGO offer” (But One Get One Free) or a “One Time Only” offer.
As an example, you could offer a bundle of books, webinars, or a combination of both on “How to get Traffic”, “How to write Emails”, and “How to find that special offer”… and you could offer these in an attractive way to the customer, so they see the value and make the purchase.
Maybe… Approach the offer in this manner…
“By becoming a valued customer today, you have qualified for a special “TODAY ONLY”, ONE TIME OFFER! These books sold separately would cost you $12.99 each, by making the purchase today, you will receive all 3 Books for the “TODAY ONLY” low price of $25.98. Yes, “TODAY ONLY”, if you cover the cost of just 2 of these books, we will give you the third book ABSOLUTELY FREE! But You must act now before you leave this page.”
OR maybe something like this…
“By becoming a valued customer today, you have qualified for a special “TODAY ONLY”, ONE TIME OFFER! These books sold separately would cost you $12.99 each, by making a purchase today, you will receive our SPECIAL BOGO offer. Thats right, 2 books for the price of one. “TODAY ONLY”, if you cover the cost of 1 book, we will send you the second book of your choice FREE! But you must order NOW before you leave this page.”
Of Course, these are just examples. The purpose of these examples is to get your “Wheels Spinning” (A Term we use in the South that means “to get your thought process started”) Sometimes, just giving an example or throwing out an idea, makes you think… “You know, I could do This, This, and This…” (BTW, that is exactly what Mastermind Groups do… 🤔) Think outside that box, put value in what you offer, make the offer attractive BUT DO IT HONESTLY!… (You wouldn’t want to offer these books at $12.99 as an incentive to a new customer, if you normally offer them on your site for $8.99 each, as that would be misleading to your customer. When they find out (And They Will If You Do…) 😡🤬😡🤬 See Ya!
Warning: If you are Willingly and Intentionally “Mis-representing” your Products to Deceive your “Customers” to make “💰”, Congratulations! You have just become one of the UNETHICAL, DISHONEST SCAMMERS we so desperately try to avoid.
Harper Says:
Take some time to think about what Offers, Items, and/or Services you want to promote. What combinations of those offers you would like to present to your customers. What value would they have? How many Items will you include in your offer? Write your ideas down on paper and number them from your favorite to least favorite. Think as a customer, not as a Business Owner… (It’s not about you, it’s about the value that your customer will see)
Having a hard time coming up with Ideas?
Do what I do…
Look out the window and imagine what would have helped you when you first started your business.
As my Grandpa would say, “I see the smoke coming out of them ears… your wheels must be spinning!”
To seeing Dreams Discovered!
David Roper
Hi, David! I like the idea of looking at my offers from a potential customer’s point of view. What might they see? What would they value?
I’ve often heard the idea of giving great value at an easy price, but I wasn’t quite grasping what that was. Do you just give stuff away cheaply? That can’t be it.
Looking at what the customer will gain determines the value. You can increase the value they receive without necessarily raising the cost to yourself as the business owner.
I get it now!
Thanks to you and Harper!
Nakina, thanks for commenting! We will all have different customers… Some will want everything for free, some… after thinking about our products will say, “I’ll pay that I guess”, then others will see the value and jump right on it… I have come to realize, the more we understand about the product, the better we can judge the value of the offer. If I’m looking for “Flowers” for my wife… any flowers will do, If I am looking for “Roses”, the other flowers have less of a value to me… But, If I’m looking for “12 Long Stem Red Roses” I, myself, have increased the “perceived value” of the product I am looking for and what I am willing to pay because of that value… (the true “cost” of the flowers hasn’t changed)
(It’s Valentines Day! 😁 I couldn’t think of a better example)