One thing that many coaches, speakers and other expertise-based business owners seem to have in common is a lack of understanding a basic concept of marketing: The Marketing Funnel.
The idea of a marketing funnel, sometimes called a product funnel, marketing pipeline or product pipeline, is this:
- At the widest point of the funnel, the mouth, your business draws in prospects. This is where you have your attraction tools — your bait or lures that attract suspects and prospects into your business.
- In the middle of the funnel, you have your mid-prices products and services.
- At the end, the smallest point or spout, of the funnel, you have your highest-ticket products and services.
The idea is to get as many people to go through the funnel and come out the other end. The problem is … (more…)