The sell your knowledge funnel process is an excellent illustration of how to build a business selling information over the internet. Once you understand it, you will know exactly how to build your business online.
If you are familiar with a funnel, you know that it features a small opening on the bottom and a large opening on the top. A funnel allows you to place a large volume on the wide side and a small volume comes out on the other end. The difference in volume is directly related to the differences in size for each of the various sizes.
This funnel is exactly how the process that you use to make money on the internet works. It is easy to sell your knowledge if you are offering it for free in a report. It becomes a little more difficult when you charge $10 for information. It becomes even more difficult if you are charging $37 or $67 for additional information. This is why you need to have multiple products in your eBook business.
Why do you want to set your business up to sell your knowledge like this? You do so because at the top of your funnel is where you are going to have the most amount of people. As you continue to move through the funnel you are going to have less and less people. Generally speaking more people will buy your $10 eBook than your $500 home study course. This is because when you charge more, it requires a higher level of commitment.
As a result, it is important that you take the time to build confidence in you in the mind of your customers. You need to demonstrate to them through your marketing process when you sell your knowledge that you care about them and not just their money. The key to these online business opportunities is to build trust in the mind of your customers. This will help them to understand your message and they eventually become promoters of your message, which is how you find affiliates.
This is exactly how the funnel works in your internet marketing business. As you begin your real online business, your main focus is to find something to sell. If you can do that, you know you can make money. That being said, the business owners who recognize this process will make more money and will have more customers doing higher value transactions with them because of this. As the needs of their customer, they are able to meet those needs.
By focusing your efforts on providing value, you will build up the level of trust that your customers are willing to invest in you. Your product portfolio funnel should illustrate this by including escalating values of products with escalating price points. Now you should not expect to have this coming out of the gate. However, you do want to have this as something that you can shoot for and build towards, because it is absolutely essential if you want to build a big business when you sell your knowledge.
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Copyright Stephen Beck, 2009
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Stephen Beck teaches entrepreneurs how to start an ebook business. Get his three free videos on http://8weekstoprofits.com so you an start now.
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