Is Your Sales Funnel Bleeding Money? Try This…
You work hard to build your sales funnel. You’re buying traffic, but your funnel isn’t converting well enough to fully pay for that traffic.
Which means, you’re in the red. Yes, you are building your list, and yes, over time you will recoup your money from your list by promoting other products.
But wouldn’t it be great if you could get your funnel in the black NOW, so that you can buy all the traffic you want and build your list as fast as you want?
Think of a big house – one that you love, but it costs too much on your income. What do you do? You take in a renter or two. They are paying you to stay in your house, and you now have no trouble making the mortgage payment each month.
Surprisingly, you can do the same thing with your sales funnel.
Take a good look at your funnel for places where you can accommodate “renters.” For example, if your backend offer isn’t converting as well as it should, how about renting out that back end offer to another marketer?
If that marketer has an offer that converts really well, and it’s a good match for your funnel, then this makes total sense for the both of you.
Now here’s a little trick: Let’s say you run your traffic through three different offers after they sign up to your list. All of these offers are on a related topic, in line with the subject of the lead magnet that got them into the funnel in the first place.
But if they turn down all three offers, then renting the exit splash page to another marketer with a product that is DIFFERENT for your offers could work really well.
For example, you offer a lead magnet on social media marketing. Your offers are all directly aligned with social media marketing. But for those who don’t buy ANY of those offers, something that is different (but not too different) might do better.
Obviously, this offer would still be marketing-related, but it could be ANYTHING else that is marketing related. Of course, you’ll have to test this out. Do a one-week trial run with your “renter” and see if it’s a good fit. If not, find someone else.
You can rent out any space you like, whether it’s the first upsell, the exit page, a link on your download page and so forth.
How much should you charge? Enough to put your funnel into profit, or a little bit better. If your renter makes a killing, that’s fine. The point is to get you into profit. Then you can buy all the traffic you like and build that list quickly.
Your real profit comes from the list, not the funnel.
Selling this offer to established marketers isn’t difficult, either. Simply send them an email letting them know what you have. It’s an offer they don’t see every day – at least not yet – and it will spark immediate interest with some marketers.
Like anything else, it is a numbers game. Plan on approaching or emailing about 5-7 marketers to get 2 who are really interested, typically one of which will say yes.
I know of one fellow who’s been doing this for a couple of years now. He built a funnel in a new niche, one he was dying to enter. But for whatever reason, he had a devil of a time getting the funnel to pay for itself.
Finally, in frustration, he sent out a blanket email to 14 marketers that he personally knew. Granted, he already had the contacts, so this part was easy for him.
10 of those marketers expressed interest, and he wound up building a second, similar funnel to accommodate the demand.
He has two upsells after his squeeze page. The first is for one of his own products, and the second is rented out to another marketer. Then on the download page he rents out three different spaces to three different marketers.
Finally, he sends a ONE TIME ONLY offer to his new subscribers via email. He makes it VERY clear that this is the only time he will ever send such an offer on behalf of another marketer, but this offer is so good, he just had to let his new readers know about it. (You know the lingo to use.)
Because he makes it clear that this is a one time only thing and he won’t be spamming his list, no one gets upset.
And between his own upsell, the upsell he rents out, the three ads on the download page and the ‘solo ad,’ he makes a good chunk of money.
He’s now able to buy more expensive traffic and still be in the black at all times. And this better traffic is more targeted and results in more sales from his list.
Talk about a win-win-win situation. He took something bad – a funnel that frustratingly was not paying for itself – and turned it into a way to build his lists even faster and with better prospects, while still making a small profit on his funnels.
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