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See on Scoop.it – Small Business Development

What is a Funded Proposal?

(A detailed Explanation and The Benefits of The Funded Proposal))

So first of all, what is it, right?

“A Funded Proposal is a marketing plan that you can use to sell an inexpensive information product to your target market” – Magnetic

Sponsoring

This serves 2 purposes –

You gather highly targeted and qualified leads or customers.
You make an immediate sale and income that instantly funds your marketing costs.

The reason why the funded proposal produces highly targeted and qualified leads or customers is simply because –

By pulling out their credit card and buying your inexpensive information product on the front end, they have qualified themselves to be potential customers of a high-end product on the back-end.
By buying a product, they have basically raised their hands and said, “Yes, I am interested in what you are offering” and are therefore, now target customers or leads.

How It Can Catapult Your Business
As an Internet Entrepreneur, you’re going to have to spend money in marketing to bring people to your sales pages BUT you also want to spend your best marketing dollars on those leads or potential customers who have the greatest chance of being paying customers.

You don’t want to spend all of your marketing dollars on just anyone that want to take a look inside your store (i.e. opt-in to your sales page) because chances are they may just be curious about what you have and are not serious about buying.

You’ll end up broke before you know it!

Here is where the funded proposal system is an excellent plan to get you the targeted customers and sales you want.

How A Funded Proposal Works
Let’s say that you have a 15-video training course on How to Create Your Own Vegetable Garden and you are selling it for a one-time payment of $297 – this is your back-end product.

Well, first of all you need leads that are either interested or serious enough about creating their own garden, so hopefully you’ve done the homework required to make sure you get leads to your sales page.

Now that you have potential customers coming over to your sales page, you lead by offering something “Free” so that they opt-in to your sales page and you can collect some information from them like their Name, email and phone number.

This can be something like a 3-part audio interview with Health and Nutrition experts on the danger of eating non-organic Vegetables.

A key component to remember here is to offer something of extreme value.

Now they are leads, it’s time for your Funded Proposal!

Since your potential customer now knows the dangers of eating non-organic vegetables, you can now offer them paid product. In this case, you could offer something like a $25, one-hour video on the Nutrition factors that, pesticide free, vegetables provide for a healthier life.

Again, this is just an example. Some people may buy this $25 product before buying your 15-video Garden training course and others may go straight to the course, bypassing the $25 product.

The key thing to remember here is that you are gathering highly targeted and qualified potential customers on the front end with an inexpensive product and are also reserving your best marketing dollars for these customers on the back-end to market your higher-end product.

The potential customers you want are paying for your marketing ads to find them and qualify them – How cool is that?

Mastermind: Now that you know what is a funded proposal, what do you think about it? Is this something you can see yourself using in your business? Have you used the funded proposal system before?

See on www.internetentrepreneurconnection.com