I attended a leadership conference this past weekend, and part of the conference was attending a sales marketplace where the attendees had the opportunity to sell each others their products and services. What had been suggested is that in order for one to be successful, you should have a broader funnel and that in the upper part of your funnel you should have something that will attract lots of people. Makes sense to me. Now while I agree that the more opportunities you have and the more options you have to offer a person, you do have a greater chance of selling them something. That is – IF selling to them is what you have in mind. I choose my words carefully in the sense, when I am working with my potential clients, I have to 1) find out what there needs are, 2) what there goals are, and 3) do they have a financial plan to make it all happen.
Now I went to the conference with an open mind so I can learn more ways to increase my income streams. I know that my current product does suit the needs for many and can help a lot of people increase their branding and exposure. Most small business people would agree that they have a challenge of reaching multiple people every month in order to sell their product or services. On average, a company can reach 100 people per month more or less. With my product, I have a way to reach their target audience at an affordable price and reach THOUSANDS per month in a print and digital format. Now while I was there I was speaking with a member of the millionaire club, he suggested that I 1) give my product away for free in order to broaden the top part of my funnel – yes I said free — even though my offer was 1/2 off my 12 x rate for 3 months…. I must lost mind momentarily – at that price I lose, lose After deep thought I concluded that my product is not for everyone and I am ok with that! If people can not see that I have access to over 100,000 women a month, and woman are the ones who make or influence the decisions, and these are the target market that they are looking for – this is priceless!!!
Now I always offer my clients the best price I can, but know, I have a family to feed and bills to pay also, but more importantly, I always give them more value then the cost of their ad. For example, editorial – a chance where our writer will tell their story to our readers, a trendsetter spread (4-6 page photo shoot)- your product is all you supply and we do everything else – how much would it cost you for you to hire models, hire a photographer, get a location and shoot for 4-6 hours? I am ok that what we have is not for everyone, and it is my duty as an ethical person who wants to serve (not sell) as many people that I can, and actually be a serve to them and be an extension of their marketing arm. A person once told me, that if you do not value your product and get your self off of the “sale or deep discount” shelf, you will never get the full value of your product.
Today, I have reanalyzed the process of the selling funnel and have decided, 1) you have to know your product and what value you offer, 2) your product is not for everyone 3) you must be OK to say that you can not give it away for free – but do offer VALUE (not the same) 4) take yourself off of the deep discount shelf – I deserve the value of my product – I work hard, and I am sure you want your prices for your services also.