When customers buy your product or service they enter a “Sales Funnel” or “Customer Retention Path” where they receive regular mailings selling the backend products.
I’ve studied sales funnels/customer retention paths for years and there is a science to them. They all involve a lot of testing and take time to implement, but once they are fine-tuned, they create HUGE customer lifetime value.
That lifetime value often makes the time and effort it takes to set up a Customer Retention Path more than worth it.
I have a number of different clients who sell introductory courses that teach how to use a particular investment technique. The backend usually consists of some kind of continued subscription to a website or newsletter that provides the information needed to implement the program. Then there might be various video programs, advanced course modules, advisory services, coaching, or even live seminars that are available for purchase.
A Successful Customer Retention Path
In order to create a successful customer retention path, you need to know what products to offer, what order to offer them in, and what price points to use. It takes dedicated trial and error to get this knowledge, but a well-designed … Read the rest
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