What Exactly Is a Wealth Funnel?
It’s a process whereby someone enters our email list and the first product sold is a small inexpensive ebook or CD or something like that. They become a customer.
As we continue to earn the trust and confidence of this lead/customer, they are more apt to buy a more expensive product or service from us.
The wealth funnel allows you to earn the trust and confidence of your lead to purchase from you, from low ticket to high ticket. And, many times throughout the year, they will be exposed to many other tools, resources, products and services of all price points and may choose to purchase some or all of your offerings.
It’s a multiple streams of income system that’s going to allow you to monetize while you build your primary business.
It starts with the lead capture page aka squeeze page aka splash page aka landing page. Basically the wealth sales funnel looks like this: (we’ll use Joe as an example)
1) Joe is interested in starting his business from home but he really doesn’t understand how it all works. He’s having a hard time understanding marketing, how to do it, what to say, etc. so he’s doing a little research about it.
He comes across your ad that says:
WANT TO START A HOME BIZ?
I’ll take you by the hand
and show you exactly how
to succeed. Free info”.
2) That’s exactly what Joe is looking for. He puts in his name and email in the form on your website and within seconds he receives valuable information about marketing online. Perhaps it is a free report you’ve put together about the basics of getting started. He can see by reading the report that he needs to learn some skills. He needs to understand more about attraction marketing, having a funnel, learning how to talk to people as it relates to his business and so he buys these various products from you. You make commissions, he receives value and knowledge.
3) He continues to get your emails that offer value. In one of your emails you introduce him to your primary business. Because he already has purchased from you and you have given him value, he pays attention to your primary business and considers it. He joins. It’s a big ticket item. You’ve earned a commission and he’s ready to start his business.
4) He now needs a few more tools in his tool box. For example, he needs web hosting services for his domain, website software, an autoresponder, a training platform, perhaps a predone, ready to go wealth funnel with capture pages already in place and Traffic Geyser. He gets those through you. most all of these services require a small monthly payment, a portion of which is paid out the referring individual aka the Affiliate.
So here’s what you’ve done so far:
1) You placed an ad by way of video, article, banner ad, Squidoo lens, Hub page, etc.
2) You make some up front commissions on a few products Joe bought right away
3) You make a big lump sum from the commission of his big ticket item to join a business
4) You are making monthly residual income from each of the tools Joe needs to run his business
Now, you continue to offer high value products to Joe and the rest of your customer until the end of time.
This is the essence of a wealth funnel.
Now, putting your sales funnel creating multiple streams of income in place takes a lot of time and effort but for those who stick with it and work hard to produce a robust business system amazing things start to happen.
There are a few multiple streams of income systems you can plug into which are already set up and offer affiliate products, or you can create your own and pick and choose what products you want to offer your customers.
Article Source: http://EzineArticles.com/?expert=Debbie_Turner