I like The Ultimate Funnel sales concept, which I learned from Dean Holland. He discusses this in a more extensive marketing process called The Perfect Path. Any business can use this.
(As a side note, the Holland’s Iceberg Method training bundle available on my blog here has a training video of these concepts if you want to learn more.)
What I think is cool about The Ultimate Funnel is that it helps envision a customer’s entire journey, from being a lead to becoming a top customer.
It also helps me think about what I am offering someone at every step in the sales process. What am I offering to attract new leads? What is the first product I offer? The second? The last?
Here is the framework for The Ultimate Funnel.
The Ultimate Funnel is essentially an online sales process comprised of five specific steps customers go through when purchasing a product that any business can use.
- Lead Capture: This is where you build an email lead. To do this, give away a free gift in exchange for someone’s email address.
- Customer Acquisition: Turn prospects into customers. There is a simple but clever technique to do this without actually selling anything (I’ll write a separate post about this concept).
- Value Maximization: Maximize value for the customer and the business by offering one or more special offers for complimentary products and services to which someone can say yes or no.
- Recurring Revenue: Grow recurring income with subscription or membership offers. This can be an essential source of income for many businesses.
- Premium Products: Offer high-ticket premium products to those interested in getting maximum value. Typically, these products generate much more revenue than lower-cost products.
Not every customer will buy at each step, but taking someone through it allows the business to maximize the value to the customer and itself.
The Ultimate Funnel is part of a more extensive process for online businesses called The Perfect Path. As I mention at the top of this post, both The Ultimate Funnel and The Perfect Path are part of Holland’s Iceberg Method that anyone looking to make money online and build an online business should utilize.
Let me know your thoughts on The Ultimate Funnel!