Sell Futures, Not Features
How to build marketing funnels for your customers and charge good money for it. We motivate marketing agencies to sell more marketing funnel services to their clients, increase their prices and create multiple scalable income streams.
Mike Killen is the founder of Sell Your Service. He gives marketing funnel agencies the confidence to create multiple scalable streams of income, to free them from the crushing constraints of the traditional out-dated agency model. Mike is the best selling author of From Single To Scale, Universe Fuel and Five Figure Funnels. He believes that most people don’t live the life they want or deserve due to a lack of confidence. he loves what he does and his Long term goal is to get confidence training in school curricula.
In this Episode, I am talking with an awesome guy, Mike Killen on How to charge good money for your marketing services. He talks about selling futures not features. I'm where I'm at right now because of funnels, I'm gonna let that let that be known! Hear how Michael can help you understand the benefits of Funnels.
Takeaways From This Episode:
- What a basic funnel is and how it delivers value to your base.
- The first rule of selling marketing funnels - is don't call it a marketing funnel.
- Understanding the differences between advertising and marketing.
- What should we charge for marketing funnel?
- So, how does a funnel benefit my customers business?
- Finding those Emotional triggers.
What is a basic funnel is and how it delivers value
Michael talks about his little pitch that he gives about marketing funnels. It doesn't matter if it's websites, email, social media or none of that - forget about the tools - all we're trying to do is find a bunch of people that don't know that you exist, and pull them through and turn them into happy, profitable, repeat customers who refer you to their friends. The reason he say those specific for happy, profitable, repeat clients who refer us to their friends, is because those are the four metrics that really measure. Does yourssales process work?
Another thing that we found out over there is the fact that you know, when you're building these funnels, you really need to get out of the habit of calling new marketing phones, you have to understand that these are operational funnels as well.
I don't have a percentage, but it's a sizable percentage of my first agency's business, you know, revenue was around, you know, taking care of those repetitive mundane time suck tasks, right? the automation of billing and then we just all a million different the automation of password or everything. I mean, it's a million different things you can do that literally and I'm not kidding. You can Consume 3040 50% of an employee and when you automate that the human error aspect goes down. Everything gets better!
The First Rule Of Selling Marketing Funnels - Is Don't Call It A Marketing Funnel.
Little secret - you don't sell marketing funnels. The first rule of selling marketing funnels is don't call them marketing funnels. We talk about what most marketing businesses, if they employ automation, or even just sales, general marketing and sales, they do it correctly. They're in the business of operations and productivity. There are some massive companies that have tons and tons of leads coming in but 90% of them are garbage. They are wasting time and money. That is when I started talking about automating the process to weed out the garbage. There is a qualification process that can literally find you like three more hours a day and give you the good leads. Hear how Michael says that's a marketing funnel in the broader sense of the term. He breaks it down this rule of selling marketing funnels and how to save money and time.
Understanding The Differences Between Advertising And Marketing.
Lot of people do not fully understand the difference between advertising and marketing. If you don't understand that, then you're going to be super confused by the whole marketing funnel. Everything you send is actually marketing. That's why successful companies invest so heavily in marketing. They can control the outcome and they understand what called the "time to close".
Michael's definition of a marketing funnel doesn't include any tools. He explains that if you are at an event and and your iPad broke, your phone broke, you would go grab a scrap of piece of paper to get their information. We do not need tools but we do need to qualify every single person that comes through and put the data in later.There's tons of tools that can move them through the process but hear Michael's process and true definition between advertisin and marketing. He has a plan!
What Should We Charge For Marketing Funnel??
As much as you damn well can! Michael says he actually doesn't think it matters how much you charge until you can answer how much do you want to make? If you say to a business owner, "Do you want to earn $100.000 a year and they go Yeah, that'd be incredible". Well, that means that business probably needs to turn over $250,000 and that means that you probably need to charge around $25,000 per customer and adverage 10 customers a year. But, in reality, you need to flip that. When you understand how much you want to make, it throws up loads of other questions. Pricing is such a funny and tricky process, but it can also be very simple. I am talking about productization! When I hear what we should charge for a marketing funnel, the first thing that pops in my head is how much value does it bring you and the target audience right now? Hear Michael and my answer to pricing.
So, How Does A Funnel Benefit My Customers Business??
So, the number one thing Michael talks about is selling futures, not features. That means selling marketing funnels all based around benefits. The key to understanding a benefit is really just understanding the future that the customer wants? What are they wanting? In fact, on this show, we mention two or three benefits, all dealing with - productivity operations -Time saving and Money making.
The key word is benefit. We talk about marketing being a huge component for a business. I am marketing guy, I mean, it's probably one of the most if not the most important aspect, but there is still 60,70 or even 80% of other business and opportunity out there. Whenever you sell funnels, you are openign up those benefits and sales. We are talking about benefits for you and your clients.
Another thing I have learned is that in the first three to five minutes with a new prospect, they will tell you exactly what they need if you just shut up and let them vent. They have had this pinned up emotion going on for months, years or whatever and without fail within the first three to five minutes, just ask a simple question and then sit back and shut up. They are about to vent. By shutting up in the first few minutes and just taking notes, I promise you those emotions that you write down are the things you need to close the deal. They literally gave you the exact words you need to close them on $100,000 project in the next 30 days.
This is a really good reminder that those benefits are emotionally charged. Don't overcomplicate just listen. If someone says, "I just really want to feel confident in the direction of my business". You say, "Great, I can help you with the core benefits to start feeling more competent and more confident. People will pay for those positive emotions. You are building confidence and showing you understand what they need.
Finding Those Emotional Triggers
What we are talking about are human triggers. It is called emotional hooks or psychological hurdles. If we understanding the emotion behind decision making, we can understand the prospects pain and help them where they need help.
Sophisticated marketing minds will tell you 100% of the time, it boils down to an unbelievably rudimentary simple emotion. They might try to check off the boxes logically to validate the emotion - but make no mistake about it - bring it back to that emotion every time and you'll win the sales game.
Final Thoughts On Funnels Selling!
We want all agents out there to open up your horizons a little bit. Open your mind a little bit to the possibilities of making extra money by selling funnels. Truly understanding the benefits of funnels is a true game changer.
Check out Michaels https://www.amazon.com/Five-Figure-Funnels-Marketing-Experience-ebook/dp/B08CKYHNN9. It's out on on Amazon!
Also, check out Sell Your Service private mastermind and all the free training videos.
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