Imagine the situation: a girl enters the room to eligible bachelors. She is beautiful, smart, successful, dreams to be happy in marriage and to have children. So does this mean that 9 out of 10 men will immediately rush to offer her a hand and heart?
Why you need an automated sales pipeline
The example with men clearly shows the psychological principles that work in business too. Therefore, you cannot act abruptly. Otherwise, buyers will go away.
A well-created pipeline allows you to gain the clients' trust and encourages them to buy your product. For example, an educational course or training. This tool allows you to increase profits without additional costs.
6 key components of the product pipeline
1. Lead Magnet
The first necessary thing is a "magnet for buyers." It means offering a certain thing for free (for example, a checklist). A person only needs to leave his contact details to get access. It will not be possible to earn money on the lead magnet, but you can get valuable data.
2. Tripwire
Tripwire also helps us build relationships with the client. However, the tripwire already needs finances, albeit an insignificant sum. Your task is to offer a potential student something valuable at an affordable price. At the same time, the offer should be so attractive that a person will reject all doubts and choose your training!
It can be a webinar on the actual topic or even a mini-course. The last one was offered by the online school Womenbz.Education. They sold unique mini-courses, which were enjoyed with wide popularity. The secret of success is simple: after buying a tripwire, a person starts thinking about buying a more expensive educational product in hopes of gaining valuable knowledge.
3. Main Product
The first two actions are aimed at what is your main offer. With the main product, you receive the first serious funds.
4. Revenue Enhancement Products (Maximizers)
They are sold together with the main product (upselling). Usually, the creators of online schools do not consider this option, but in vain! Offering an additional product can significantly increase the income of the educational platform. In particular, a homework checking by the curator or a 30-60 minutes consultation with the course author can act as an additional product.
Upsales are very important because it is an effective way to get a profit.
5. Backend Product
This is the most valuable offer. It is a shadow good that is not selling openly. However, this one turns an ordinary student, of course, into a fan!
6. Return Path
This option depends on the type of business. However, it is possible to create the return path for educational platforms. For example, you can sell membership in closed clubs for a relatively small monthly fee.