Discover a simple yet powerful marketing funnel strategy that will increase your success rates and turn customers into raving fans.
What You Will Learn
The Easy Way to Build Sales Funnels that Convert
Let’s imagine I move in next door to you. The afternoon I take possession of the property, I knock on your door and we meet for the first time. Without even introducing myself, I ask:
"Can I borrow $10,000 from you? I’ll promise I’ll pay you back next week, with 10% interest."
What’s your reaction? You will probably slam the door in my face. Maybe you will call the police and tell them there’s a lunatic loose in the neighborhood. You’re certainly not going to jump at the deal, are you?
Yet it seems like a great offer. This time next week, you’ll be ahead by $1000! Why wouldn’t you want that?
The problem of course, is that you don’t trust me. You don’t know who I am, and you certainly don’t know if I’m good to repay a big loan plus interest within seven days. So you would be stupid to risk your money on me.
Now let’s change the scenario a little. Let’s imagine I come round to you house carrying an empty gas can with a sorry tale to tell:
"I’m so sorry to bother you, but the thing is my car is out of gas. I’ve got no cash on me, and I need five bucks so that I can take this can to the gas station and fill it up. If you don’t mind, would it be possible – I know it’s really cheeky to ask - but…do you think you could maybe lend me five dollars? As soon as I can get to an ATM, I’ll pay it back with interest."
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I know you’re a nice person, so I guess you would most likely agree to lend me five dollars. After all, it’s a small commitment. Even if I never repay it, you won’t be that much out of pocket. And you get the benefit of showing your new neighbor how helpful you are. So you agree to help.
One hour later, I knock on your door again. I not only repay the five bucks, but I insist on giving you 50 cents in interest.
Now your opinion of me has risen significantly, right? You can see that I’m a guy who keeps his promises. So if I came back to you a few weeks later with another sob story and asked to borrow fifty bucks, there is a very good chance you would agree.
And when I repaid the fifty bucks within 24 hours with a five dollar bonus, you would be very happy. In fact, you might be hoping I come around soon to borrow some more money. After all, you don’t get those interest rates at the bank!
As long as I kept repaying you promptly with interest, you would probably be happy to lend me increasingly large sums of money – maybe $200, then $1000, then $5000. And if I finally came round and asked for $10,000, you would probably have a big smile on your face and the money already packed into a briefcase ready to go.
The Pyramid of Promises
So what’s changed? At the beginning of the story, you had no intention of lending me any money whatsoever. Now we’re at the stage where you are really keen to hand over large sums of cash.
The difference is my track record in our relationship. I have proved that every time I make a promise, I deliver on that promise. It always turns out to be a good deal for you. Each step of the way, the promise has become bigger – but the payback has become bigger in return. You are happy to make increasingly large commitments, because you are confident you will come out ahead. You will get out more than you put in. We have a relationship that you are now very comfortable with.
This is what I call the Pyramid of Promises. And this is exactly what we need to deploy in our online marketing. Selling to cold traffic is certainly possible, but it’s not easy.
When you build a solid relationship with prospects and enter their ‘circle of trust,’ everything changes for the better. Your cost per acquisition plummets, your conversions rocket and your profits accelerate. And you can make all of this happen when you implement the Pyramid of Promises in your sales funnel.
Let’s say you are selling online training. Your sales funnel might be built around a Pyramid of Promises that looks like this:
At the top of the pyramid, the promise is small – and so is the expected payback. As we move down the pyramid, the promises grow substantially larger, but the paybacks grow in proportion.
As you move prospects down the pyramid, you are getting deeper into their circle of trust in this sequence:
- 1They become aware of you
- 2They get to know you
- 3They find they like you
- 4They begin to trust you
- 5They begin to trust you
The Importance of Keeping Your Promises
If you follow this strategy you can hardly fail…as long as you remember one vital thing:
You must keep your promises every time.
Like any new friendship, your relationship with a new prospect is fragile. It can only prosper and deepen if you deliver what you promise every time. Better still, deliver more than you promised. Surprise people with unexpected bonus content, additional tips or small gifts. When you pay them back with interest, they will love you forever.
So if your lead magnet promises ‘five tips you can action right now,’ add a great bonus tip and make it six. When people attend your webinar, reward them with a free PDF that complements the presentation with additional, actionable strategies.
Remember though, it only takes one break in the chain to make it collapse. Your sales funnel is only as good as its weakest link. If your lead magnet turns out to be nothing more than a sales pitch for your product, you have broken your promise. You will be ejected from the circle of trust never to return.
Worse still, this prospect may react negatively to future ads from you, hiding them or choosing not to see any advertising from you. This has a negative effect on your Relevance Score, pushing up your cost per click and reducing your reach. Just a few unhappy prospects can turn your campaign into a train wreck.
So be sure to keep your promises – the future of your business depends on it. To find out how to do that, get in touch and we can talk it through:
Implementing the Pyramid of Promises
How you stack up your Pyramid of Promises will depend very much on the nature of your business and what you are selling. But to get leverage, you should be aiming for premium pricing and higher-ticket sales.
The higher your prices, the deeper your Pyramid of Promises needs to be. Getting a prospect to pay $10 for an eBook is one thing. Persuading them to part with $1000 for a coaching program is something else altogether. But if you build your pyramid the right way, people will be fall over themselves to hand over their hard-earned cash.Enter your text here...
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