I've been working with several clients recently on the notion of creating a marketing funnel, also called a sales funnel, sales pipeline, or marketing platform, depending on what business you're in. If you imagine a funnel, wide end at the bottom, and gradually narrowing as you go to the top, this is the sales pipeline through which potential, current and former clients travel in their business relationship with you. The idea is to get prospective clients in your target market to enter the funnel and become repeat customers by purchasing various goods and services from you at increasing price points.
What I see quite often (a marketing blunder for which I am also guilty) is that most service professionals have one item in their marketing funnel -- their 1:1 service, whether that's coaching, virtual assistance, web design, copy editing/writing, pest control, landscaping, professional organizing, financial planning, etc. They offer absolutely no other way for someone in their target market to sample or benefit from their expertise.
My clients typically get stuck in one of the following marketing scenarios:
1. They've hit the 1:1 service ceiling in some way. They either have a full schedule and can't take on additional clients without expanding hours or hiring help, or they don't want to work as many hours in providing individual client assistance (i.e. they're tired of time for money)
2. No one is buying the pricey 1:1 service.
So, then, what's an independent service professional to do? Map out your marketing funnel.
Your marketing funnel should have 9 layers, as outlined below. Please note that these price points aren't fixed but are merely established as a guideline for you to establish your own price points with your target market based on what your target market can afford to pay or will pay for your type of service. The price points refer to your total customer purchase. For example, if you sell an ebook/audio package for $399, the total purchase price is $399. If you have a monthly subscription service, like for a monthly consulting retainer that runs $700/month and your client has agreed to pay for one year, your total customer purchase is $8400.
1. Target market layer: As much as I had to disappoint you, your target market isn't "everyone", even though I'm sure you provide a wonderful service of which "everyone" should take advantage. Going for this shotgun approach rather than a laser marketing approach will make your marketing very difficult and permit the wrong people to enter your marketing funnel. So, you need to put a screen on your marketing funnel and ensure that only your target market enters.
2. Entry layer (free):
Solar Stock Pick - EVSO - Sponsored Link
Ad - Solar Energy Growth Investment. Stocks, Trading, Investing. Alternative Energy.
U.S. government takes on bigger role in mortgage market
Japan's Nikkei stock average jumped 3.4 percent and Hong Kong's Hang Seng index surged 4.3 percent. In morning trading, Britain's FTSE 100 jumped 3.81 percent, Germany's DAX index rose 3.21 percent, and France's CAC-40 surged 4.44 percent. U.S. stock
News Minute: Stocks surge...Ike pounds Cuba...Some Floridians not worried...Cheney likes Palin
Fannie Mae and Freddie Mac. The Dow jumped more than 300 points in the first few minutes of trading. Stocks overseas had earlier rallied on the news. CAMAGUEY, Cuba (AP) - Though Hurricane Ike is now a category-2 storm, the narrow streets in eastern Cuba
Machinists' wrench
the past two days, Boeing, the union and the federal mediator worked hard in pursuing good-faith explorations of options that could lead to an agreement. Unfortunately the differences were too great to close,' Carson was quoted as saying. Boeing's last
Greenback gets a lift from Fannie, Freddie bailouts
housing market and seemed to renew global investor confidence. The 15-nation euro bought $1.4200 (U.S.) in European afternoon trading, compared with $1.4243 in late New York on Friday. The euro has not traded below $1.4200 since last October. The U.S.
Multibillion-dollar pinch
Va.-based company to pay $69.50 a share, a premium of 28.9% for UST shareholders, based on a three-month trading average of $59.30. The purchase price includes about $1.3 billion in assumed debt. 'We are excited about this strategic and financially
Don't base longer-term bets on market rally
markets were already soaring on the news, with the French CAC-40 index surging 4.8 per cent in late-day trading and the U.K.'s FTSE 100 index jumping 3.8 per cent. Behind this sudden reversal in the relentlessly negative stock market sentiment of the
Connectivity problems plague bourse
Also Monday the Johannesburg Stock Exchange, which uses the LSE's SETS electronic trading platform, halted trading after experiencing similar problems. A spokesman for the U.K. exchange said some customer had reported problems connecting to the market
Market Springs to Life on Frannie, Freddie Bailout
11,548, and the S&P 500 was gaining 31 points at 1274. The Nasdaq added 47 points to 2303. Trading during the previous, Labor Day-shortened week was marked by high volatility and uncertainty about the economy's future. A drop in crude-oil prices failed
UpDown.com Announces Additional Funding from Investor
million investment from Switzerland-based angel investor Joachim Schoss. Dubbed by mainstream media outlets as fantasy football meets the trading floor, UpDown.com was launched by three Harvard entrepreneurs in September 2007 and currently has more than
Progress Apama CEP selected by Bank of China International
Holdings Limited (BOCI), the wholly owned investment bank of Bank of China, has selected the Progress Apama Algorithmic Trading Platform to strengthen its investment banking infrastructure. Stephen Chan, Managing Director, Head of Planning Division, of
Robotic Knee Surgery -- In-depth Doctor's Interview
Richard Levitt, M.D., an orthopaedic surgeon, explains the MAKO, a new, robotic surgery for osteoarthritis. What is osteoarthritis and how many people does it affect? Dr. Levitt: Osteoarthritis is a name that is thrown around a lot, but it's basically
Northern Trust Launches First Dedicated Japanese REIT ETF (NYSE Arca: JRE) in the U.S.
be based on the Tokyo Stock Exchange REIT Index. NETS(TM) Tokyo Stock Exchange REIT Index Fund (Japan) commenced trading on the NYSE Arca Exchange today under the ticker symbol JRE, granting U.S. investors the opportunity to invest in the Japanese real
Sittin' Down with Sonny
Designers of High Fashion Enter the Age of High Tech 1 hr ago As Crisis Grew, a Few Options Shrank to One 1 hr ago Voter Registration by Students Raises Cloud of Consequences 1 hr ago
Fannie, Freddie shares tumble after bailout
mortgage-backed securities research at Deutsche Bank. Freddie Mac shares tumbled more than 50 per cent in Frankfurt when trading began on Monday. Freddie and Fannie, which serve a government mission to support housing, were put in a conservatorship that
Photos: Taylor Swift's Limited Edition Pre-Sale Launched Exclusively Via the Bandbox '100% Back for Free' Distribution Platform
environment and adopt a highly beneficial direct-to-consumer sales channel, Bandbox offers a compelling alternative to the proprietary, in-house options labels are considering. Aside from its strong technological advantages, Bandbox's core appeal is that
Texas Instruments Piccolo(TM) 32-bit microcontrollers bring real-time control for greater energy efficiency to cost-sensitive applications
of the small size and price that they offer our customers. They also double the number of C2000(TM) options and build on TI's growing MCU portfolio.' Real-time control drives energy efficiency across many applications Piccolo F2802x/F2803x controllers
Initial plans submitted
architects to provide insight on room design. 'I think the board has done an excellent job of providing options,' Riedel said. 'I think both of these schools will be assets to the district and provide much-needed instructional space.' The board is
UpDown.com Announces Additional Funding from Investor
million investment from Switzerland-based angel investor Joachim Schoss. Dubbed by mainstream media outlets as 'fantasy football meets the trading floor,' UpDown.com was launched by three Harvard entrepreneurs in September 2007 and currently has more
Doha: Agricultural negotiations and the Hippocratic oath
the absence of a continuous supply of foodstuffs of which grains are a major component, people die. A trading system that does not take this issue into account is likely to run into problems as countries resist becoming dependent for their food on a
Knight Capital Group to Present at Lehman Brothers Global Financial Services Conference
and trade execution services in nearly every U.S. equity security and a large number of international securities, futures, options, foreign exchange and fixed income. In Asset Management, Knight owns a 51 percent stake in Deephaven Holdings with
Altria to buy UST for $10.4 bn
from Goldman Sachs & Co and J.P. Morgan for the deal. UST shares were at $68 in premarket trading on Monday, up from Friday's New York Stock Exchange close of $67.55.
Supply: Solar Products and knitting cloth
Ningbo Gelis International Trading Co., Ltd. has two factories, producing solar related items and the knitting cloth. The Solar Products include: 1.solar panel series(Mono-crystalline and Poly-crystalline) 2.solar lights series(solar lawn lights, solar
Sustainable Power Corp. Moves Forward With Strategic Alliance With Pemco Energy AS
Africa. About Pemco Energy AS Pemco Energy AS is part of the Pemco Group which is a European trading and industrial group with manufacturing, distribution and sale of oil and chemical based products. The group is represented in 18 countries, and has a
Gov't takes big role in mortgage market
Japan's Nikkei stock average jumped 3.4 percent and Hong Kong's Hang Seng index surged 4.3 percent. In morning trading, Britain's FTSE 100 jumped 3.81 percent, Germany's DAX index rose 3.21 percent, and France's CAC-40 surged 4.44 percent. U.S. stock
Glitch halts a vibrant session
The London Stock Exchange ground to a halt on Monday as its trading system was hit by a embarrassing technical glitch. The suspension came after some LSE clients experienced difficulty accessing market data, leaving traders virtually blind. Just before
US stock futures jump more than 2%
troubles of some homeowners who have fallen behind on their mortgages. Dave Rovelli, managing director of US equity trading at Canaccord Adams in New York, said while the plan boosts confidence in sectors like financials and home builders, it doesn't
BeaconEquity.com Issues Technical Trade Alerts on Renewable Energy Stocks: IBOT, VSE, AVR, SIAL, HPC, LZ
announces the availability of Trade Alerts on stocks making news today. Investors can view all of the daily trading notes for free by visiting: http://www.BeaconEquity.com/m Today's Trade Alerts include: Industrial Biotechnology Corp. (Pink Sheets:
Dow jumps more than 300 points in opening minutes
troubles of some homeowners who have fallen behind on their mortgages. Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams in New York, said while the plan boosts confidence in sectors like financials and home builders, it doesn't
China Green Agriculture, Inc. CEO Announces Summary of Operations and IR Plans
for 2008 and 2009. Dear Shareholders: As China Green Agriculture's registration statement was declared effective in August and trading activity has increased, I would like to take this opportunity to provide an update on the Company's recent developments
Bolling: Two Homebuilders Worth a Look
but the thought process went as follows: These guys are really reporting more bad numbers. ... Hovnanian is trading at $6.50! That was a $70 stock not too long ago. ... I know Ara Hovnanian personally, and he is a straightforward guy, an honest guy who
This is your free offering that you provide on your web site in exchange for a prospect's contact information -- a free newsletter, ebook, special report, ecourse. etc. This freebie serves as your introduction to prospective clients so that they can begin to get to know, like and respect you, which are the progressive steps necessary before they'll decide to buy something from you.
3. Introductory layer ($5 - $150): This is your lowest price point at which someone can purchase your expertise. You can offer ebooks, special reports, subscription ecourses, audio products, teleseminars, etc. Most of your offerings at this level should be information products that require little, if any, of your individual time.
4. "Not Quite Newbie" layer ($150 - $450): This is a higher level price point at which you can sell more in-depth versions of the types of information products listed above that showcase your expertise. You may provide some of your time in your offerings at this point, but only in a group setting, like a teleseminar series, discussion forum of a membership subscription web site, or group coaching/consulting.
5. "Experienced Newbie" layer ($450-$1000): At this level you may be providing a bit more of your time in group settings, or offer items like home study courses or special packages that bundle several of your products together.
6. New Expert layer ($1000 - $3000): You'll begin to offer your 1:1 time again at this level. whether it's to offer some open office consulting hours each month as an addition to some type of action group you're leading, or to create a short-term service retainer.
7. Expert layer ($3000 - $5000): Clients at this level will buy exclusive group time with you not readily available to the public, like a bootcamp conference on a particular topic or a year-long service retainer.
8. Master Expert layer ($5000 and greater): This is the level at which a client is paying handsomely for some type of 1:1 time with you, whether that's a year-long commitment of coaching, consulting, mentoring, advising, etc. Only a few clients going through your marketing funnel will buy at this level.
9. Well-educated client outcome layer: After traveling through your marketing funnel, you should now have a bevy of loyal, dedicated customers who return again and again and make referrals to you because of the value and results they received from participating in your marketing funnel. You'll need to continue to add and update your product offerings, as this well-educated client may travel up and down the funnel again as his needs change.
What do you offer in your business at each of these layers? Take out a piece of paper and jot down these price points and fill in the blanks from your current offerings. Where are the holes? How can you plug the holes? Creating a marketing funnel in which members of your target market can buy your expertise at several different price points will increase your exposure to larger numbers of your target market, ultimately bringing you more clients willing to go through the marketing funnel experience.
Copyright 2006 Donna Gunter
Online Business Resource Queen (TM) and Business Coach Donna Gunter helps self-employed service professionals learn how to get more clients online. To sign up for more FREE tips like these and claim your FREE gift, TurboCharge Your Online Marketing Toolkit, visit her site at http://www.GetMoreClientsOnline.com. Read about running an online biz at our blog, http://www.getmoreclientsonlineblog.com
