What Is A Funded Proposal?
In this article you will read what funded proposals are and how to use them to do three things simultaneously. Number one, find your best customers, number two, boost your main product or services sales and number three, give you an unlimited marketing budget.
To give you an overview of what a funded proposal is and how it works let me show the natural flow of information between your side and your visitors that visit your site. I’ll breakdown each step for you in this article and a question you maybe asking yourself as you read this is, “How would this work for my particular business?” The good news is that funded proposals will work for all sorts of businesses and that is the topic for this section of the Internet Marketing for Business Owners website.
First, let’s go over the basics of what funded proposals are and why you want to have one. Here is an overview. Somebody visits your website, you give them a little information and build some communication with them and then promise to give them something they want if they give you their contact information. This is usually how you build an email list, once they’re on your email list you send them information where you introduce your funded proposal product to them.
A funded proposal product is usually an inexpensive and when I say inexpensive I mean say under $50. This is usually an inexpensive package of information that when someone buys it goes into detail about a particular topic and by the time someone finishes it they’ve got a lot of good information on the main product or service you offer and they’re much more inclined to do business with you.
Now, that’s an overview. An example will help you see exactly what I’m talking about. This is my real estate investing website. I’m looking for people who want to become real estate investors. When somebody comes to my site they get some basic information on real estate investing and I promise to send them more information via email if they sign up for my email list right here.
Once they sign up they are redirected to this page that talks about a report I sell called ‘The 7 Great Lies of Real Estate Investing.’ Anybody who is interested in real estate investing to get on my email list would likely be interested in this report. My site visitors can buy this report for $39 and it details the common mistakes new investors make when getting into real estate investing.
By the time they purchase the report and are done reading it, not only have they received a lot of good information on how they get started in real estate investing but they’ve been given many reasons to join me in real estate investing in particular and thus my real estate investing business grows. Now, do I get rich off of selling little $39 reports? No, absolutely not. Why do I do it then? There are two reasons and you’ll want to pay very close attention at this point because these are huge.
Number one: I sell this because it gives me a chance to really get someones attention. If someone pays good money to buy a report from me chances are good that when it arrives in the mail they’re going to pay close attention to everything it says. If they got this information for free they’d probably ignore it. Since they pay it almost $40 they pay close attention. Getting someones close attention is hard to do nowadays and having them spend a little money is a great way to get it.
Number two: These little reports pay my marketing expense. Now, here’s what the big deal is when it comes to funded proposals. Let’s say it cost me a dollar in advertising to get someone to my website just on average. If I have 40 visitors I have paid $40 to get them there. These 40 people may not join my email list and if they do they may never join me in real estate investing.
Let’s say that on average one out of every 40 site visitors buys my Seven Lies Report for $40. How much did it cost me to get those 40 visitors? In effect it cost me nothing. I spend $40 and I made $40 so at the end of the day I haven’t lost any money but I’ve got 40 new potential real estate investing partners. If I spend another $40 the next day and one person buys the report, once again I haven’t lost any money but I’ve gain 40 new prospects.
This little report pays for my marketing so if I spend $100 the next day or $1,000 the next day I make that money back and have all those new people to work with. How long can I keep that up? Pretty much forever and I’m not running out of money, my marketing is paid for. Not only do I have unlimited funds for marketing but I’ve got something else too. In addition to getting people’s attention when they buy my report, the people who buys something small like this report are the people who I want to focus my attention on.
Anybody who will put even a small amount of money into their investing career by buying my report has shown me using their wallets that they are more serious about investing than the people are who will never buy anything and are just looking for free information. My best potential investors are rising to the top, they’re reading my report which builds their trust in me and they come back more excited to work with me than ever. This increases the success in my main investing business and my marketing expenses are paid for.
This is a beautiful thing and with a few modifications any business can use the funded proposal model to shoot their marketing into the stratosphere and find their best customers to increase their bottom line. If you grasp the concept side I’ve describe here then we’re ready to move on into the details. Thanks for joining me and I’ll see you in the next article.