If you’re new to online marketing (or fairly new), here’s how we “internet network marketers” make money.
Step 1: we build a list. Ok, I’ve shared that step with you in Commandment #4.
Step 2: We market a suite of products to that list via what’s known as a “marketing funnel”.
What is a marketing funnel?
Well, in its simplest form, I want you to think of a grocery store.
When you go to a grocery you find more than one product, right? In fact, you may find several different brands of one product, right?
Well a “marketing funnel” is very similar, it allows you to offer more than one product to a “potential customer” who is interested in what you’re teaching, so that you can make lots of money.
Let’s go back to the grocery store example…
If a grocery store customer was interested in purchasing milk but the store only carried orange juice, the customer would leave, right?
They’d go buy their milk (a/k/a “spend their money”) elsewhere.
If you’re a network marketer and you’re only offering your network marketing opportunity or products to your leads, you’re the grocery store that’s only stocked with orange juice.
If your lead doesn’t want orange juice, they’re out the door. If you’ve paid for that lead, you’ve just lost money. That’s bad. : (
But what IF you had a grocery store full of different products?
So that if a lead came in for milk, but once they passed by the OJ section, they decided that they also wanted OJ, you’d make money on the milk and the OJ. If they only wanted OJ, that’s cool too- you made money on that lead.
This is why you need a marketing funnel.
You need a way to make money from your leads even if they aren’t interested in your business opportunity.
Otherwise, if you keep buying leads who only want milk and your store only sells OJ, you’re going to lose a lot of money and your store won’t be open for very long. : (
Having a marketing funnel is absolutely essential if you want to make
a sustainableand sizeable income online. Period.
A marketing funnel is the only way to protect yourself if you end up deciding for one reason or another that you want to leave your current business opportunity, or if your opportunity goes out of business.
Let me be brutally honest…
If you’re only promoting your primary business opportunity, you aren’t the CEO of your own business. You’re nothing more than a commissioned sales rep.
Rich and I created our own products.
We own our own list.
If our primary business opportunity goes out of business tomorrow- no sweat.
We’ve got plenty of other income streams to rely upon.
This is just the beginning.
Now, a marketing funnel is far more than just having a store that’s fully stocked with lots of different products, it is also a means of ensuring that you can collect as much money as possible from an interested buyer.
So, for example, some buyers that come into your marketing funnel have a lot of money to spend.
Let’s say they have $10,000 of start-up capital that they’re willing to invest in starting their own business.
If your business opportunity only costs $500 and you don’t have any other related products or services to offer them, you’ve left $9,500 on the table.
If you have a fully developed marketing funnel, you would have a low-cost product (under $100), a mid-cost product(s) ($100-$500) and a high-cost product(s) (over $500) to offer them, in addition to other back-end offers like affiliate programs, continuity sites, etc.
So, for example, I have products ranging in price from $39.95 to $40,000.
I’m not going to leave any money on the table…. are you?
A marketing funnel is the answer, my friends. This is how you ensure that you aren’t leaving money on the table.
There’s a whole lot more that goes into building a marketing funnel and my new course, The Beginner’s Guide to Building You, Inc. will go into more depth about how you can begin building your marketing funnel. So make sure to sign up for the early bird notification list below.
Those who join my marketing team will learn step-by-step exactly how to create their very first marketing funnel. To apply to join my marketing team, go here.
Now, onto the controversial part of this commandment…
Now, there are several internet network marketers out there who jumped back into building a network marketing team, and have since turned their back on attraction marketing, You, Inc. and everything else that they DID to become successful in their network marketing company.
This really annoys me.
They know that building a marketing funnel takes time (because they know how long it took them to get their funnel in place), so they tell their downline to just build their business by talking to their warm market and other offline tactics, and “not to worry” about the online attraction marketing thing.
You know why?
The whole reason that they climbed to the top of their company is by marketing to the LIST that they built using attraction marketing. In fact, they probably used “attraction marketing” and “online marketing” to get you to join their opportunity.
But they want you to do what they SAY not what they DO.
That’s a bunch of bologna!
But here’s why they are doing it….
As your upline, who benefits monetarily from your efforts, they don’t want to wait for you to build a list. Despite the fact that from a savvy business standpoint, putting all of your eggs into one basket is completely foolish, they only care about your producing in this company, so they make money.
When push comes to shove, if the company shuts down and you have to start from scratch… they’ll just say “oops, so sorry, why don’t you just join me in XYZ company.”
If you want to build a sustainable business online, you need a marketing funnel.
For the quickest money, you should absolutely talk to your warm market. I teach my team to do the same thing.
However, to build a savvy business that YOU own, as opposed to being a sales rep, you should be dedicating some of your time to creating a marketing funnel so that you aren’t leaving money on the table and you have multiple streams of income in the event one or more streams run dry.
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