Secrets To The Ultimate Attraction Marketing Pipeline
Applying The Pipeline To Attraction Marketing
Right now I want to run through each of the steps of the Attraction Marketing Pipeline so it is clear in your mind and describe the purpose of each component
The crucial strategy in traditional marketing has been bringing the searching “eyeballs to the table” through advertising on TV, newspapers, radio and sent out advertising. Now if you are going to use the 3-foot rule and connect to only family and friends, etc. Oh YUK!
The good old proven method of advertising is called Direct Response from other forms of advertising is best laser targeted, can be easily tracked and includes a “call to action. This can come in the forms of late night infomercials, Google Ad words advertising, ads with 800 numbers, email marketing, direct mail and other communication mediums.
In Attraction Marketing, you want to have all your advertising and traffic generation to have a direct response component, whether it be Search Engine Optimization (SEO), Pay-per-Click (PPC) Ads, article marketing, email marketing, video marketing, magazine adds, or any other type of marketing that will be designed to tell or guide the reader on what to do next!
That really becomes the key to any successful sales process!
It does not matter how good your presentation is, how many bells and whistles your marketing campaign is, it is strongly advised that you ‘ask for the sale’. Seems rather obvious, right!
Most marketers emphasize emphatically suggest that that you don’t ask the prospect, but tell your prospects what to do next! People want to be told what to do next so take on that leadership role!
Prospects are concerned about their problems and how they can solve them, and are so concerned to resolve those issues, that they do not concern themselves with your company, your brand, your product (not yet), or any features of your business. The prospect is more concerned about what ails them and not whether you make a profit.
So your concern through your advertising makes it clear that you are solving their problem, (i.e. better health, better solution to their problem and to save money, etc.) These are the factors that will prompt the prospect to respond.
Focus on the prospects pain, and they will respond to your ad.
Since you are addressing their main problem directly, it allows you to posture to “tell” them what to do next.
Step 2: Capture Page Opt-in! How to Build Your Online Subscriber Base
The prospect arriving at your Capture Page, is the page where your prospects arrive and request more information by submitting their information; usually their name and email address.
Your website or blog exists for one reason only: To capture the visitor’s contact information! This page adds people to your list every time a visitor fills in the short form and submits their information. Now that we have their information and they are now on our list we can follow-up with them via email and begin building that relationship informing them about our services and products by marketing to them and eventually monetize them.
Obviously the most important part of your Attraction Marketing pipeline, therefore you must have one! Now that the prospect has given you their information, starting off, less is more. Using tact we want to remember that the capture page is designed to be ‘pain and benefit” driven ads and only offer the solution your capture page suggests in exchange for their contact information.
The prospect’s choice then is: a) pot-in to solve the problem, or b) get out and not offer the marketer their information.
Once they submit their information, they are plugged into your autoresponder list and your continue to communicate with them, educate them, build a relationship, and market to them until they purchase something or they opt out of your pipeline. One can also re-direct them to other websites you might have.
Step 3: Front-End Offer – How to Break Even Before You Offer Your Primary Products or Opportunity
In any business the obvious concern is breaking even on your marketing & advertising budgets. The questions that arise is how do we know if our ad is working and which ad preformed the best and which one was a complete waste of money?
The direct response marketing industry on the other hand has always been very good at measuring their return on investment (ROI), because hey directly market to a list and see the total returns of that particular list. Obviously, tracking becomes the key ingredient to streamlining market costs.
Using Direct Mail as an example, where if you have a list of 2,000 people that you obtain from source #1 and you direct those people at a cost of $6 per person, you therefor can measure what the response rate and sales conversion are for that list. Say 400 expressed interest, and 100 bought what you sell. The response rate is 20% which is great because now you have a list of 200 people who have a history of interest, (i.e. they are warm). In addition 100 people out of the list bought from you. Selling them a $200 product, then you generate $20,000 in revenue. And at $6 per person in marketing, you spent $12,000 in marketing and pulled in an $8,000 profit.
If source #1 continues to give you leads which have the 40% conversion rate, discussed above, and then you will know what to expect as long as you continue tracking results. It is very important that you keep tracking your results because as one source dries up you should be receiving leads from multiple resources to keep on top of the market trends.
Consider The ‘Self-Funded Proposal’
On occasion I may be difficult to get an initial sales conversion rate and is especially true when you may be marketing an expensive product or if there is a high point of entry for your opportunity. In our example above we know that there are at least 20% of the people we mailed to whom are interested but may not be ready to commit due to cost or other reasons.
In this situation, a ‘Front-End Retail’ product would come in handy. It would definitely be easier to market a $20-$50 product instead to someone than it would be to get them to commit to your more expensive product, service or business opportunity.
Find the buyers and market to them Free!
Consider marketing an inexpensive product on the front end, so that you give people an opportunity to do business with (a test drive), without making a big monetary investment. Let’s say if ½ of the 20% who responded (10% of total list = 100 people) decided to buy a front-end product at $50, then that is equal to $500 in front-end revenue, which completely covers the marketing.
Then you have the opportunity to ‘up-sell’ these customers to your primary product later on and potentially have 100% profit margins or higher. The income from the front end retail is doing two things:
1) pays for your marketing,
2) identifies the buyers on your list.
The goal is to have this income cover mot, if not all, of your marketing cost. What this means is people are essentially paying you to become a LEAD for your primary offer!!!
So instead of buying leads or buying lists like many professionals do, one can get paid to generate their own leads – very hot leads, who have demonstrated a willingness to buy.
Build A Relationship With Buyers
Front-end products provide you the opportunity to prove yourself as a marketer first and then build a relationship with your NEW customer. Experience has shown that is always easier to ‘up-sell’ an existing customer, than it is to sell to a cold contact. In the retailing market, marketing a lower entry product allows the marketer to identify the buyers and then invest more into that relationship and build trust.
Also consumable products have a very good option as a front end product especially when it comes to nutritional supplements, since they are very inexpensive to manufacture and have a high-perceived market value. An even, easier product to market, which you can create in less than an hour and sell for $40, are information products.
Information Products – Low Cost, Big Returns
Many Internet marketers have found that marketing an informational product is one of the best things to do. The real benefit of marketing an information product is the high profit margin which typically ranges between 75% to 100%. Physical that require physical labor to produce tend to have a much lower profit margin due to changing labor costs.
So what if you consider marketing an informational product, you must match the topic of the information product to the needs of the prospect.
Consider being in the Life Insurance industry, and you write an informational product about purchasing a Life Insurance Policy, investing in Mutual Funds and how to chose the right Life Insurance Policy for yourself.
Consider the type of information your ideal client would be looking for, because clients are interested in paying Today for information sooner than going through the long hours of research and web surfing to find it. In bookstores there are countless books on the topic of “[Blank] for Dummies” books do so well in bookstores. Customers prefer to learn how to do something before they fully engage and are willing to pay for information from a good source.
Just consider that 92% of individuals that go online are really seeking for information, so it is your best interest to serve them with free or very low priced information that will lead them to a relationship and then, your primary offer.
The extremely key notion here is to provide that individual with awesome value, even though they may or may not buy into your back-end offer. It’s that standalone nature of your first offer that can ignite the true trust.
Now you may not have an information product or do not have the time to create one, you can always promote other people’s products via affiliate marketing. Just go to ClickBank.com to find a product that will pay 50% to 85% commission and remember signing up, as an affiliate is free. So consider taking advantage of affiliate marketing because an MLM, Mike Dillard’s Magnetic Sponsoring course converts like magic or you can promote Fernando Ceballos’ and Raymond Fong’s “Attraction Marketing Formula”, via ClickBank as your front end.
Step 4: Building Relationships via Communication Through Newsletters That Provide Education and Passive Selling
So can you ever remember the experience of a relative who has started a MLM business and have them approach you either to sell you something or have you join the business. The annoying part is that you know the reason that they are talking to you is to “sell” you on the product or business. Immediately this builds up resistance within you and you slide to the background to avoid the “the pitch”!
The question becomes from the previous section how do we sell anyone on a front-end product? It is difficult enough selling the primary opportunity and now I’m going to have trouble selling another product? Does this make sense?
Listen carefully and give me a second chance. We know in advance that the selling process scares the average person to death; both on the receiving and the giving end of it. What happens here?
We avoid the person starting this new business as do others for the next few months and wait for them to crash and burn with their new business. During this time you buy the same type of product from another friend/relative selling from somewhere else, (vitamins, energy drink etc.). The hope is that the previous relative that came to you in the first place have given up their business and your relationship will have returned to a normal relationship as before!
The amazing thing that happened here are that you knew nothing about your relative’s business or product but automatically rejected what he/she was offering, as did others. Then you go and purchase the same type of from a store owned by a multi-billion dollar family, instead of purchase it from your relative who needs the money a little bit more. Where are the logic and the compassion here? So what has happen here was:
“ People do not like to be sold, but they LOVE to buy.”
Our guard goes up when we feel someone is trying to sell us something as our minds and ears shut off. The relationship is irrational on both ends and you miss out on what could have potentially been a complementary product/service and the relative has burnt out from all the rejection and they ‘quit’ giving a sense of relief by all parties involved.
So some of the Big stores such a Sears have proven that people still love to shop and buy! Many successful businesses have figured out that inviting people to shop is easy, as long as it’s their idea to buy. So marketing to people and getting them to buy have found out that it is much better to bring people to your product or service by educating them on the BENEFITS over time, than it is to shove a bottle of Energy Drink in their face and say, “This is good for you. Buy it!”
Using an education process:
- A marketer is providing value to your prospects by educating them, whether they buy your product or service.
- A marketer is building a relationship by providing this value, which grows to trust, respect and a leader status.
- You the marketer become a leader moving them towards the solution you offer, as people want to be lead so be bold and do not be timid.
- As a marketer you are relieving the pressure on yourself or the prospect and allowing their need, want or desire to motivate them.
Experience has shown that long-term customers usually are people who make the buying decision on their own. Stating it another way is that customers convince themselves and you do not have to convince them.
In training materials, personal development training circles, the term ”enrollment” is defined as the process of making other people feel “moved”, touched or inspired” by your valuable content or in other words your, “influence”.
Communicating with your prospects about their pain and offering a solution through a consultative role is enrollment. Enrollment is the influence you want your sales process to develop starting by building a relationship.
Building real long-term success, especially online, relies heavily on building good relationships between vendor and customer. This process can almost be completed automatically as you will see through the detailed strategies reveal through the following steps of this blog!
Step 5: A Product On The Back-End – Making Big Money With Online Marketing
As you probably have figured out any product or service that serious prospects will buy, often a substantially larger product, will happen once they have purchase a product or service from you before as they’ve bought into you.
Here is where the big money is made, since you have built this sales funnel in the first place, where the “relationship building” actually pays off. These are not just any customers, but real fanatical customers that have gotten to know you, trust you, and love you! Since you have genuinely made their life better and look forward to buy from you again they have become locked-in loyal buyers who love what you stand for, love your ‘front-end’ product and become loyal customers of your business.
A good principal to follow is to exceed their expectations and over deliver on the ‘front-end’ by making sure your retail product or service is 10 times what you sold it for, thereby preventing any skimping on your front-end product and eliminating the lose of any prospects forever. Giving your customer this value, your customer is ready to invest more money into you and your system providing you a perfect time to offer your primary business opportunity.
Most often we would offer our customer our #1 choice in your back-end product selection, however it’s not the only option. Some other basic options that you can implement is:
- Training course or seminar
- Affiliate Offers – Clickbank.com, cj.com or linkshare.com
Well what about the people who, for whatever reason, cannot join your business opportunity but they still absolutely love you and want to benefit from your experience?
So get creative, such as creating your own ‘back-end’ product such as a training course, tele-seminar or webinar series would be a nice way to profit from those folks. The only disadvantage to this obviously is the time it takes to create a quality product or prepare for a seminar. On the other hand the large advantage is the ongoing profits your product would yield again and again once it’s done.
Now creating a ‘back-end’ product may cost anywhere between $50, $150, $300 or even $1000+. As stated before make sure that its value is at least 10 times the price. If this situation happens, you can continue to up-sell your customers and they will be happy to buy more, because of the value they continue to receive.
Remember, your job is to offer your subscribers solutions even if they don’t become a client for your primary business. Give your customers options and let them decide. The beauty about this is that now you have a way to monetize customers who are not physically able to benefit from your services because of location or any other reason. But they can certainly benefit from your expertise. – Fernando Ceballos – The Attraction Marketing Formula
The second option is to promote an already existing quality affiliate product. Many marketers and professional have created quality products for just about any industry and as mentioned before commissions on these products can be between 40% – 85%.
For back-end products, check out the clickbank.com, cj.com and linkshare.com because becoming an affiliate marketer is free and easy. Being in the direct sales or network marketing industry one of the best converting back-end products that I’ve ever seen is MLM Traffic Formula by Mike Dillard. Go and check the resources for more information.
So as you market these products and build your list, you should never run out of products you can promote. Just remember to always invest in the product and be sure you vouch for the quality of the product and don’t let your greed blind your judgment on the quality of the products.
The Obvious Question Becomes How To Offer Your Back-End Product or Service To Your Customers
Okay we have covered some of the ‘back-end’ basics so lets get to the important task of marketing to your pipeline, building your list.
The next step is getting your back-end offers in front of your prospects, so with in ALL your emails give your prospects the opportunity to passively opt-in to information about your “back-end” product or primary business services.
Include, all your ‘back-end’ offer in your educational materials and emails through real life examples. Think of an example where you were able to train one specific down-line member go from broke and down on luck to being successful in the exact business opportunity that you are in. Using real life experiences assures the reader or prospect that you are callable and talented network marketer who is a great leader and mentor as well. Your stories and testimonials are great ways to both educate and plug your ‘back-end’ services.
Keep your emails more generic, wrapped up in stories and content filled!
So to review the Magic Slot Machine:
- Continually drive traffic to Your Capture Page.
- Your Capture Pages will Capture People’s Information and Start Building a List.
- Creatively use Email Marketing to Build Relationships with your List of Prospects.
- In business costs do happen so Offer a Front-End Product to Cover Your Marketing Costs.
- Offer your prospects Your Primary Products, Services and Opportunity in Two Ways:
- Create a Passive Link at the Bottom of Your Emails.
- Be sure to use the Real-Life Examples and Stories, Where You Weave Information About Your Services into the Email Newsletter
6. Review your results and Keep Focused and Committed.
Okay folks, that all for now! Simple, easy, creative, clever and Perfectly Legal!