Post by shikapatho on Oct 18, 2023 1:01:09 GMT -6
I learned this concept from Russell Brunson, one of the greatest online sales experts in the world.
This concept is important not only for those who work with Digital Marketing, but for those who have a company!
It is called the value ladder, because at each step of this ladder, you have a product (or service) that generates more value for your customer.
A concept similar to a product conveyor belt, but I like to see it this way more, as it is more of a view from the customer's perspective and not just the product.
The more value you generate for your customer, the more money they are willing to invest in your products/services.
If you have multiple products and whatsapp database services to offer, you can make one sales funnel feed another sales funnel and create a purchasing cycle.
Selling more than once to the same customer is a much more profitable way of working.
Here in our tests, in some campaigns we achieved 15x higher conversion when trying to sell to someone who is already a customer, than selling to someone who is not yet a customer.
This is exactly why you must have more than one product/service to build a solid digital business.
Bait, frontend, middle, backend, are the technical names for products/services that range from the cheapest (in some cases free) to the highest value.
Every time you solve your customer's problem with a product/service, a new problem arises.
Let’s look at a practical example from the financial market:
You can offer a free Ebook on “How to Use the Stock Market to Retire 20 Years Early.”
This guide will help people discover that there is a better way to think about their financial future.
But once you discover this, your potential client will need help with the first steps, opening a brokerage account, sending money, and all the technical aspects of buying a share.
A product that teaches you how to buy your first share and lose your fear of investing can be an excellent way to start helping your client with their first steps.
This concept is important not only for those who work with Digital Marketing, but for those who have a company!
It is called the value ladder, because at each step of this ladder, you have a product (or service) that generates more value for your customer.
A concept similar to a product conveyor belt, but I like to see it this way more, as it is more of a view from the customer's perspective and not just the product.
The more value you generate for your customer, the more money they are willing to invest in your products/services.
If you have multiple products and whatsapp database services to offer, you can make one sales funnel feed another sales funnel and create a purchasing cycle.
Selling more than once to the same customer is a much more profitable way of working.
Here in our tests, in some campaigns we achieved 15x higher conversion when trying to sell to someone who is already a customer, than selling to someone who is not yet a customer.
This is exactly why you must have more than one product/service to build a solid digital business.
Bait, frontend, middle, backend, are the technical names for products/services that range from the cheapest (in some cases free) to the highest value.
Every time you solve your customer's problem with a product/service, a new problem arises.
Let’s look at a practical example from the financial market:
You can offer a free Ebook on “How to Use the Stock Market to Retire 20 Years Early.”
This guide will help people discover that there is a better way to think about their financial future.
But once you discover this, your potential client will need help with the first steps, opening a brokerage account, sending money, and all the technical aspects of buying a share.
A product that teaches you how to buy your first share and lose your fear of investing can be an excellent way to start helping your client with their first steps.