High-end Residential Client Lead Attraction Funnel

This is also called Ascending Transaction Model (ATM) which means you move your prospects from point A to point B. From their current situation to their desired reality.

Rules for creating a gift

 

  1. It is given without conditions. The Gift must be given freely, it must be perceived as valuable and timely. You must not ask for anything in return, you release the gift ‘free to the world’.
  2. It Must Be Meaningful And Well Timed. A great gift can open people to a whole new world; it could educate or entertain them. It could give powerful insights on how to remove problems or frustrations. Provided it’s offered at the right time in the right way, it should be a joy to receive.                                       
  3. It Doesn’t Send You Broke. The Gift must be low cost for to deliver; you can’t go broke giving gifts. In most cases it will be a digital gift, social media or an event experience (all of these have a very low and manageable cost per person).

Rules for creating a P4P

  1. Get your ideas out to the world. The P4P should be focused on sharing your ideas and philosophies. Not generic ideas, not old ideas, not small ideas. Share your big, unique and transformational ideas with your prospects. Ideas are cheap these days – make your money on the implementation of the ideas.
  2. Get Contact Details. A P4P should be exchanged for accurate contact information. It’s OK to charge for this product if you like and it’s also OK to give it at no charge but you must get people’s contact details in the process.
  3. Quick wins. You want to make sure that people get some sort of quick benefit from this product, preferably in under seven days. If you charge, it should be priced cheaply enough that people feel they got a very good deal considering how quickly they started to see value. The P4P should lead people closer to the decision to buy your core product but not cannibalize it. A quick win doesn’t mean that the problem is completely solved and there’s no longer a need to do more with your business.

Core Product

They are your main focus and your customers and clients can’t stop talking about them. These products are priced to be profitable. It’s OK to lose small amounts of money on gifts and P4P, but not on your core business. You’ve given people a taste of what you can do with your P4P, but now it’s time to be paid for your fair value when someone wants to access your core business. You must create a special methodology that makes your core offering remarkable. You need to push your team to be the best in your market for this type of product. It’s important that you develop enticing brochures and websites for your core product. You should raise your profile as the leader in your industry for your core product. The key is to create a full and remarkable solution to your ideal customer’s problem. You want your core product to turn people into evangelists for your brand.

Rules for creating a core product

  1. A Remarkable Solution. The core business must be a full and remarkable solution to a real problem your potential clients face. By definition, a remarkable product is something that is worth talking about. Your goal is to create your product in such a way that people want to tell their friends how good it is.
  2. Implementation, not ideas. In most cases your business will implement some sort of change for a customer or client. You will create something they couldn’t create on their own, or you will work with them closely to help them create it properly. 

Most Londoners love the experience of grabbing a sandwich from the UK fast-food sandwich giant, Pret A Manger. Pret stores are clean, the food is good, the service is friendly and you rarely have to wait too long in line. For that reason there are hundreds of Pret stores and the business is worth hundreds of millions of pounds.  Can you imagine the founders asking the question: ‘We’re going to make sandwiches; what do you think of our amazing idea?’  It’s a dull idea. No one is going to get excited about a sandwich shop. Not until it’s implemented with excellence. Even a boring idea becomes valuable when implemented insanely well. Do not fall into the trap of thinking that you will make money just by sharing your ideas. We live in a world where people already have access to ideas free of charge; they don’t have time to implement the ideas and they want to pay you big money to do it for them (or to get them to do it right). When someone has your core product, they should feel it has solved a problem or created a huge benefit.

  1. The price is right. The job of the core product is to make profit; you can break even or even lose small amounts of money on gifts and PFP, but you must never sell your core product at a loss or a break even. Consider your capacity to deliver the core product and calculate whether that volume is achievable and whether it would afford you the lifestyle or growth you desire.

Product For Clients – P4C

Your P4C should be highly profitable. Selling to existing clients is highly profitable because the cost of winning the relationship has already been covered. The additional cost of adding a P4C shouldn’t be excessive, and yet it offers an entire new range for your clients.

Often a Core Product takes the form of a package and the P4C is a retainer, subscription or recurring-revenue contract.

Your P4C creates a long-term underpinning of your business. As the number of subscribers or retained clients begins to mount up, you’ll hit a critical mass of profitable monthly revenue that can eclipse your core business. With this fourth product you should do well in business for many years to come.

Rules for creating a P4C

  1. It’s Highly Profitable. The P4C should aim to double the profitability of your business. This product is designed to be sold to existing clients so you don’t have the huge costs of building a relationship with them. A well- selected second product should have the potential to double the profit in your business.
  2. It’s different. It must not simply be more the same. If Your Core Business is accounting, your P4C can’t be more accounting in some other form; instead it could be legal services, business coaching, software, temping staff, etc.
  3. It’s logical. You don’t want to confuse your clients with a second product offering that just doesn’t fit with your brand. If you sell graphic design services, you don’t want to offer personal training as a second sale because it just doesn’t seem to make sense. The P4C is a ‘logical next step’ that shows up after you have solved the first problem. For example, after a fitness trainer helps their client lose weight, the client logically wants to buy new clothes; the fitness trainer could add a personal image consulting service to their business.

These products fit together in a Product Ecosystem

These four types of product are designed to string together and create a product ecosystem. They take a client on a journey from barely knowing your business to feeling great about doing a lot of business with you. Your potential clients will appreciate a gift that is given in the spirit of being thoughtful.  They will then want to try out something without too much risk. They might be happy to spend a small amount of money for a quick win. Your P4P is the perfect thing for them to try. Neither the gift nor the P4P should cause a drain on your business to deliver, but it has a powerful impact on the potential client. After having two positive experiences with your business, a client may now be open to spending money on your core business (core product). You can also bet that they are the right kind of client because they now have a better understanding of you too.  

If your core business is as good as you’ve said it is, your client will have other wants, needs or problems that they would like you to help them with. Your P4C will be the perfect next step. Most of the costs in acquiring a client would have already been absorbed in the previous products, so you end up earning high profit on the P4C. If you do it correctly, you will have constructed a seamless journey for your clients. They will enjoy dealing with you because they don’t feel pressured or rushed to make a big decision; they feel that each decision is quite natural and is based on positive past experiences with you and your business.

There are three key pieces of ‘glue’ that hold your ATM together. Read more here.

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