Now that you have an ample amount of leads from you Lead Magnet and bunches of customers who have purchased a low-dollar item with you, the next step in your funnel is to sell these people a higher-priced product.
We call that your Core Offer. And this is where you’ll start to make some money!
You most likely already have a Core Offer. It’s your flagship product or products.
The mistake that many businesses make is trying to sell their Core Offer to cold prospects,i.e. people who have never heard of you. This almost never works because your Core Offer is too expensive. It’s too big of a commitment for someone who’s making their first purchase with you.
You need to build some trust first and follow the proper sequence.
And that’s what this funnel process does, it turns cold prospects into warm prospects and warm prospects into customers. Because those customers will be much more receptive to your Core Offer.
Often, simply adding a Lead Magnet and an EPO is enough to explode your Core Offer sales.
As long as you over-deliver and provide immense value with your Lead Magnet and EPO, your customers will be highly interested in purchasing your Core Offer.
And here’s something to keep in mind:
In some cases, sales from the Core Offer will make you profitable. But it doesn’t have to. If you follow through on this funnel process, you could take everything you make from the Core Offer and reinvest it to acquire more customers.
Again, this is how you become unstoppable. You build a system in which you can spend more to acquire a customer than your competitors. That means you’ll be able to acquire more customers and generate more profit in the long run through future transactions.
Compare that strategy to what most companies do—which is trying to make a living from selling their Core Offer.
But you? You don’t need to make a dime from your Core Offer.
As Jeff Bezos once said, your competitor’s margin is an opportunity. It is your opportunity to, for example, spend more on traffic acquisition, conversion rate optimization, or increase the value of your offers.
It might stun you to find out that many of the most successful businesses in the world make no profit until they reach the next 2 stages, Profit Maximizers and Return Path.
Here’s where things get very interesting…