Two words: the funnel.
Wide at the top and narrow at the bottom, the funnel is the perfect model to grow your business and find your customer base. The more audience members you add to the top, the more people who trickle down the funnel and become dedicated, valuable customers.
At the top of the funnel is your free content. This is where podcasts can be phenomenal tools to help attract audience members who can anonymously consume your content while they decide if they like what you have to offer. Next is the free email subscription. While the audience member isn’t a paying client yet, they are more valuable to you now than ever before
Start with a low-priced offer for a product, such as an ebook. This helps you to find your niche and to target potential repeat buyers. From here, you’ll want to move into low-priced subscriptions with a recurring monthly fee to help stabilize your income.
Further down the funnel lies the medium priced product. For me, this is my Podcast for Profit program. With some initial hard work and dedication, the product becomes scalable over time and provides a solid income base. Next comes the high priced product which typically involves one-on-one courses and in person events. These take time and effort, but the investment pays off.
Last, and certainly not least, there’s the high priced subscription. This includes mastermind groups where members pay a monthly fee to have access to your expertise. An example for me is my podcasting service where I provide a high value at a high price point.
What does your funnel look like? Text powerofpodcasting to 33444 to get a cheat sheet that will guide you in planning your funnel and empowering your business. Stay tuned for next episode for our first case study!
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