Читать книгу 99 Marketing Mistakes - Kenyon Blunt - Страница 20

Mistake #14

Being A One-Trick Pony

Is your small business a one-trick pony? When someone buys from you, do they come back? A one-trick pony in urban lore is someone with only one talent or expertise. In Lean Marketing, repeat sales are the lifeblood of small businesses. They’re especially difficult to come by if you only have one product or service.

There are two requirements for recurring revenue. First, you need more than one product or service at increasingly higher price points. Second, you need to nurture your customers and prospects until they’re ready to buy. When you have a process for nurturing customers, the result is a predictable stream of leads.

The Value Ladder

The concept of a Value Ladder is critical because you can’t be a one-trick pony and get recurring sales. A value ladder illustrates your products or services in ascending order of value and price. It enables you to target leads with the most relevant product and offer upsells from one product to the next. You may think that a value ladder applies more to online businesses, but that’s not the case. A value ladder applies to any company.

Mapping your value ladder

There are many ways to build your value ladder, but an excellent place to start is with your core customer. What do they want from your product or service? In general, you start with a free offering that a prospect gets in exchange for their email address. It’s called a lead magnet. They are then offered additional products or services in ascending order of price and value.

Tiers in a Value Ladder

The illustration shows multiple tiers of offerings. By adding additional levels, at various price points, you have a higher chance of giving customers exactly what they need. Here are the tiers in a value ladder:

 Lead magnet. These are free offers designed to capture the prospect’s email address. Examples include white papers, checklists, templates, videos, coupons, etc.

 Front-end offer. Low to mid-range products or services that build trust with the customer while they receive more value. The price is usually less than $100. Books, courses, and productized services are good examples.

 Middle-tier offers. The next step up the ladder is higher-end offerings designed to make a profit. Examples are customized products, packaged services, or group coaching. Often there are sub-tiers, one with offers under $1000 and another from $1000 to $10,000.

 Back-end offer. A back-end offer is the most valuable thing you sell. It could be an elite group, exclusive membership, annual engagement, or executive retreat. High-end offers priced at $10,000 or more occur frequently.

 Continuity program. A continuity program is something that keeps you in touch with your customers regularly. It’s not a newsletter; it’s something you bill for each month. Continuity programs take the form of software, membership sites, or ongoing coaching. They range from $10 per month up to several hundred dollars.