Paddy Sharma - Paddy Sharma's Using an Effective Sales Funnel to Create Multiple Income

Paddy Sharma - Paddy Sharma's Using an Effective Sales Funnel to Create Multiple Income

In business as well as personal finance, creating multiple streams of income is an important strategy. It only makes sense. Many entrepreneurs rely solely on one source of income. They may have a main product, service or business that they promote, and that's it. First of all, having only one income stream, leaves a lot of money on the table that could be in your pocket. But even more importantly, with just one stream of income, you are vulnerable if circumstances change and something unforeseeable happens that impacts your ability to earn in that particular market or field.

It is well established in the marketing industry that it is much easier to sell to an existing customer than it is to acquire a new customer. A diversity of income streams gives you more opportunities to leverage your list of existing customers. For instance, anytime you have a new offering, product, or affiliate, you can promote it to your list. If you never bring in new opportunities for income, you are missing out on potential income.

Multiple streams of income can exist in your business in the form of an effective sales funnel. An effective sales funnel takes your customers through the process of exposure to your products and services. You may think of this as a sort of sales progression. First you may have a high value, no cost, opt-in offer. Some of the most successful sales funnels have this free entry point. You want to provide overwhelming value at absolutely no risk. This gets them into your sales funnel. Next, you may want to offer a relatively low cost item. Gradually offering higher priced items until you may offer your primary product or service.

Now, of course, you don't want a web page that has a hundred different items for sale. What you must have are sales processes in place that develop a relationship with your customers. Every customer in every market has different needs. Your job is to make sure you provide exceptional value and offer exactly what your customers want. Over time you will introduce them to various products, offers, and services throughout their relationship with your business. In this way, you are both developing the relationship between you and your customer base while creating multiple streams of income into your business.....

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