Interesting fact: It’s a lot easier to sell a second product to an existing customer than it is to find a new one. Keeping that in mind, it only makes sense then to plan out a product funnel that allows people to make multiple purchases from you. Instead of focusing all your time and energy in going out and finding new potential customers, you can instead focus on creating new products and serving your existing customer base.
I’m not saying you can stop looking for new customers. That’s always a smart business practice. I’m simply saying that if you create a series of related products that you can sell to your existing customer base, you can make quite a bit more profit from every single customer.
There are a few different ways to think about this. Let’s run through them and you can pick whatever strategy you think will work best for you, your business, and your customer base when it comes to planning future products.
Step By Step Product Funnel
With this product planning strategy, you help your customers or students do one thing with the first product. For the next one you then think about what they need to do next. For example, let’s say you start with product about writing your first kindle book. Your next product could teach them how to create a cover and upload it to Amazon. The one after that may be all about marketing a kindle book etc.
You see how this works. Each product builds on the next and it makes perfect sense for your customers to work through the first, then buy the second, and third, and so forth. Each product is designed to help the take the next step until they reach their final goal.
Creating Related Products On Similar Topics
If a step by step product funnel doesn’t make sense for your market, you can create products on closely related topics. For example, if you’ve been teaching someone how to blog, you could then create products on email marketing, and info product creation. As with the previous example, it makes it easy to mail your existing customer list with offers like this.
Creating Consumable Products Or Membership Sites For Frequent Sales
Last but not least, think about products or services you can create that your customers would buy again and again. Let’s say you’re a writer and you’re offering ghost writing service. You could create an offer to write 10 articles on any topic for a set fee. You could then keep marketing that offer month after month and your clients will buy anytime they need a new set of articles.
Membership sites are another great option for multiple sales. Maybe there’s a new topic you can teach each month, or some templates and cheat sheets you can create for your members.
Take a look at all three strategies for creating more products that you can sell to your customer base. Feel free to mix and match as you see fit. Then get to work creating marketing new products on a regular basis.