To be successful online selling your information products, you must have a sales funnel. Every successful marketer has one, so you need one too. There are a million different ways to put together a sales funnel, but the ascension model seems to be very popular among most online marketers. In this article, I’ll explain the basic principles of an ascension marketing model and why it’s so popular.
The basic premise is to move people through your sales funnel from low to high priced products. When people start in the sales funnel, they can’t advance without buying the product in front of them. They get introduced to the first product at an ‘entry level’ price. That might be a $10 or $20 product, most likely being a 1 hour product. When they buy, they’ll be introduced to the next product, which might be a 3 hour course for $97.
After that, a 5-10 hour course ranging from $297 to $497 is appropriate for the third products. Finally, the last product in the funnel is the top product you have. Typically, this will be a 10-20 hour course for $997 and up. It could be group coaching, personal coaching, a home study course, whatever.
This model really only requires 4 different levels of products to make it work. Think of the model as a filtering process, where only the right people for you buy your best products. Obviously you’re going to have fewer buyers at each level, but the revenue gained from the higher priced products is well worth it. If you do the math with 1000 subscribers and only 20% buying from each level, the money made is nice.
The good thing about this model is it’s easy to start with. It makes the most sense because you only want people who are serious to buy your products. This model is also easy to grow with as you can add more products to each level. If people don’t buy the first product in your funnel at the entry level price, maybe they’ll buy the next one.
This model is easy to automate with email auto responder systems that do all of the work and thinking for you. This model is the easiest for consistent income. If you know where each level converts at, you can forecast your income for every 1000 subscribers to your list.
The drawback is that it takes time to get people from your starting products to your high priced programs. Depending on your niche or your business, your high end product may be your ‘bread and butter’. If it takes them a long time to get there, it may affect your overall business growth.