Reverse Funnel Training
In this training, I am going to give you an introduction to the exact price points, and what to include in your reverse funnel.
Now, in your case, you don’t have to use these exact price points, so this is just going to be an example.
What you’ll be able to do in your business is to take this example and compare it to what you have in your niche. You may think about what your competitors are offering, although that’s not normally the way that I like to think about pricing, because you’re positioning yourself as the only expert that is the very best in the world at doing X, Y, Z. And when you’re the only expert in the world that can do X, Y, Z, you can charge more than anybody else, because you’re the only person in the world that can do it.
It creates an incredible level of scarcity for you. You’re the only person in the world that can do it, so if someone wants to learn what you know, they must purchase it from you. By default, therefore, they must pay your price. It gives you an incredible amount of pricing control when you position the way that I’ve been teaching.
The first thing that we want to do is just take a look at some sample price numbers. We’re going to start from the reverse part of the funnel, so the top of the funnel and we’ll work down.
You’re going to start out with the ultimate package, it’s going to be priced anywhere from $5k, $8k, $10k, $12k. Some people have $25k, $50k ultimate packages. It’s an ultimate package. And it can contain ultimate level of access with you. It can have 10, 15, 20 hours of 1-on-1 access. It could have some live time in your town. It could have a component of small group of mastermind coaching. It could contain an incredible amount of training. It could contain unlimited access to all the trainings you create in a year. It could have a wide number of different things in it.
Now, the allure to the ultimate package for you is that frankly hardly anybody will purchase that ultimate package. If someone does, you deliver it. It’s a good day. But if they don’t, what happens is when they view your next package down, for example a $2k complete training program that contains all of the same training as the ultimate package, but doesn’t come with unlimited access to you. Or 1-on-1 access to you or whatever would be in your ultimate package. That’s the only difference.
So they’re getting an $8k discount, to get the exact same information. So the information is valued at $10k, and it’s legitimately valued at $10k, because it’s for sale at that price.
You’re marking it up $1500, $2000 perhaps with a payment plan. So you have a payment plan, $2k, with a payment plan of 7 payments @ $277 or 7 payments of $297 whatever works out.
When you’re working with a reverse funnel, and you start at a higher ticket item, and you’re working down, you create an incredible level of power for that $2k package because it’s being compared to a $10k package. If instead you’re working with a regular funnel, where you start out with say, a $100 product, and then $1k product, and then a $2k product, your client has to justify that that $2k package is worth 20 times the $100 package. How do we do that? That’s pretty difficult to do.
You probably packed lots of information into the $100 package to prove that you’re really good so that they’ll buy more from you in the future. So essentially you end up shooting yourself in the foot because you’ve done such a phenomenal job of over delivering on the $100 package, that you have to over deliver by a factor of 20 times for your client to believe that the $2k package is worth $2k. Because they feel like they ought to be able to buy 20 times as much information as they purchased for $100 initially.
When we reverse the funnel, and they don’t have that $100 comparison, they have a $10k comparison, that same $2k package feels like, sounds like, a bargain.