Your Minimum Viable Funnel - The Starting Point For A Successful Sales And Marketing Funnel

Key Takeaways

hi miles Beckler here miles becker.com and in this video we're going to talk about your minimum viable funnel now what is a minimum viable funnel it's kind of an adaptation of the minimum viable product idea that comes from the Lean Startup and the $100 startup the idea is don't spend too much time adding on bells and whistles and fancy stuff put together the minimum version of your product and see if the market wants it and then if they like it buy you iterate and make it better and better if no one buys you go back into the lab you kind of change your approach you change your market and then you try again with another minimum viable product so we're taking that same concept and we're applying it to our sales and our marketing funnels we want to put out the most basic funnel we can that still has a high likelihood of success and we want to run traffic through it to see how it performs does this work does the audience that we're targeting actually take action on the messaging we're using if yes we can iterate and tweak the funnel we can add components to it or get into conversion optimization if it's a total flop out of the blocks great we just learned that that doesn't work and let's go put out another minimum viable funnel and you keep trying them until you get one that really kind of comes out of the box and works pretty well and you then work with that funnel to optimize it and make it better and better the whole time the big side benefit for you is you're building a list with all of these so the whole time you'll be growing your email list which is the most valuable asset for your online business so the other benefits of doing the minimum viable funnel versus spending a bunch of time and building it all out fancy shiny with bells and whistles it's not going to cost you that much you're going to save a lot of money putting together a two-page funnel and running some traffic versus spending weeks or months and thousands of dollars building out a complex funnel before you know if it work works so it's really important to test our ideas before we invest too much and it's going to save you time this is going to quickly allow you to realize or know with actual data from cold traffic does the people I think will want what I have do they actually want what I have if the answer to that is no great let's learn that as quickly as we can so we can either a change our audience or B change our offering cool so let's jump into it I'm going to and draw it up on the Whiteboard and show you exactly what you need for your minimum viable funnel and the first page is your opt-in page so the opt-in page is just uh it's really easy to set up I use either Thrive themes or clickfunnels for the optin page and you just pretty much have a headline which offers something and then the opportunity for them to enter their information so we're going to go with the free video reveals the secret to blink then there's the email area and then there is the button so really simple right and it can be this simple and I recommend you start with it being this simple the blank up here is ultimately your target Market's biggest problem so our offer is with our opted page that we're going to give them the secret to solving their biggest pered received problem all they have to do is enter their email and click submit that's it so once they do enter their email and click submit two separate things happen number one they go to another page and we will cover what's on that page here in a moment but number two and this is the the most exciting and valuable part is they get put on your email list and they go into your autoresponder and your autoresponder will follow up with them for as long as you set it up once they opt in you have the legal right to follow up with them as often as you'd like forever until they unsubscribe and that is really the power of your funnel and that is really the engine that drives your business because your email list is effectively your distribution system so when they get on this email list we follow Gary Vayner Chuck's jab jab jab right hook concept and in this concept that's the name of his book highly recommend reading that the Jabs stand for giving and the right hooks stand for making an offer right so when they're on here our autoresponder sequence needs to give give give offer now notice I did not say give give give get because you don't get to get from them you can present them with offers to solve their problems if you've built enough relationship if your copy is good enough if they realize you can help them achieve their goal of solving this problem or kind of moving towards their their ultimate dreams and desires they'll purchase from you if not you keep this process going right that we don't stop here we have more emails and then we give give give and then offer give give give offer you can mix it up three three gives four gives two gives but you always want to be sure you have an interval of several giving based emails more content that's going to help them understand how to solve their problem proves you're an expert it helps you build a relationship it gets them to know like and trust you so you become a trusted advisor and then they're more likely to purchase from you so that all happens automated you set it up once I use aweber right now for this and they manage all of my emails for me when they reach this next page we need to deliver on this Pro on this promise we gave them here and there's two different ways that happens the first way is if you have your own products if you are a if you have a membership course an info product course even if you have physical products essentially if you own and control the checkout page this will work one way if you're an affiliate it still works it just works a little bit different so let's look at that so it says watch the video now right and then there's the video on this page and then there is a button here so first we're going to look at this if you are an information marketer if you have a membership program or a physical product this video is going to actually truthfully reveal the secret we always have to deliver on what we're talking about and what we promis to people if you don't deliver if you skip that step there's no way anyone's ever going to purchase from you so the first thing we do is we do actually reveal the secret to them and generally speaking secrets are conceptual and within the idea of a secret there's a lot of Little Steps so you're able to transition in this video from here's a secret this is exactly how it works to and then here's all the little steps that are involved and all you got to do is AB BC 1 2 3 ABC 1 2 3 and by the time that they realize everything that's involved in solving their problem they're a little bit overwhelmed and at that moment you can offer them your membership program your product your info product that either takes them by the hand and walks them through every single step and you will help them get through the problem like you've helped hundreds of other people is really simple but I just I got to really stress this point one more time you have to actually give the value you have to give them the secret first and then you transition into how your product or membership system will help them do that more quickly and you'll hold them by the hand you'll walk them through the whole process and then they click this get it button they go into your shopping cart they check out and boom you've made a customer at that point in time if you're an affiliate marketer this is the same sort of system as what you want to build the only difference is you need to go to ClickBank or wherever your affiliate Marketplace or network you're joined with and you need to find an affiliate product that reveals a secret in their video sales letter so essentially you just are relying on an affiliate to or a merchant excuse me to create this for you and this video becomes you actually taking out your cell phone and actually introducing yourself something to the effect of what I'm going to do here in a moment so it would be hi I'm miles Beckler and I'm so excited to share this secret with you because when I first learned this secret it really helped me change my life for the better and I'm just so grateful that I learned this and I took action because now my life is more enjoyable than ever before click the button below and you'll get access to that video right now and by the way I'm going to send you a few emails over the next coup couple of days they're going to help you understand even more about how to solve your biggest problem because I was there and I'm now through that and I'm really excited to help you get through that too so click the button below and watch the video now that's the video you would put in as an affiliate and then when they click this button that button is your affiliate link and that would take them to the affiliate product where they would watch the video sales letter that delivers on this for you and if they purchase over there you earn a commission right so either way we've got this set up to where it goes from optin to the opportunity to purchase very quickly then we have the follow-up sequence here which is really where we make money we never expect this system here to be cash flow positive off of paid traffic and that's because really our goal is to have this break even if you can get to where all the ad money you spend is broken even you get just as much as you put in back from the onetime offer you're putting in here or from the affiliate product that you have here then everything you make off of this here is pure profit so what are the numbers what's the possibility of this right so I'm going to give you some basic numbers that you would look for coming out of the box uh starting your first kind of um affiliate funnel or your first personal funnel so of course we're going to have advertisements up here right and advertising costs money so let's say just I'm going to use some really rough numbers just to kind of give us a baseline to work off of so let's say you spend $100 and your opin page converts at about 25% um and let's say I would say out of the box you want to see 20 to 25% opt-in rate now you should be able to get that up to 30 or 40% I usually some most of my op- pages that I run cold traffic to convert at 35 to about 50% of traffic but if you're just starting out and testing your minimum viable funnel you do want to see something in the 20 25% range if you're in the 15 to 18% range easy to boost it and you boost it by testing new headlines so let's say for $100 and you get enough traffic at the 25% conversion rate to get 100 subscribers right so 100 people actually make through that puts it at about a dollar per lead I often see 50 to 65 cents per lead I've got friends who are new they're able to get like a doar do25 per lead so these numbers are very very possible but they're going to fluctuate and as you practice and get better you'll be able to lower the numbers on the cost and you'll be able to increase the returns that you're getting from your advertising dollars through optimization so 100 subscribers go through this follow-up sequence right and 100 people go look at your offer here whether that's your offer or whether that's an affiliate off offer now let's say that this is converting at 2% right so if you've got a 2% conversion rate and 100 people see that that is two sales and let's say it's $27 per sale you have made on the front end $54 okay this is the front end of the funnel rookies think the front end of the funnel is all there is and that's where they focus the pros the real internet marketing Pros they know it's the back end of the funnel is where all of the money is made so at this point right out of the gates we put in $100 we've made 54 back so we are negative right so minus 100 so we are negative 46 bucks so that means we've paid $46 for 100 subscribers here's the really cool part these 100 subscribers go through our email right and they get to here where there's another offer made and this offer let's say this is for a $97 product and let's say 1% of these people subscribe there that means 100 people times the one subscriber who takes us up on it right 1% one subscriber on 100 that means we just made 97 bucks right here so now 46 46 + 97 what is that I'm getting crazy with my math here what is that 51 so now 4 days in if you have all of these at this point were profitable right so we didn't expect or make it profitable here our profitability came here now this offer could be another product of yours it could be the same product with a different sales letter it could be an affiliate product that's relevant it doesn't really matter but here's where it gets extremely exciting and here's where it proves the power of building your list is ultimately what you want to be doing is that they keep going right we have more emails these automated emails keep going and you're able to broadcast this list as well we email our list almost every single day and most of the time you know 60 plus per of the time we're giving them something of value and we might mention in a PS hey PS have you checked out our membership program yet but ultimately we give give give offer them something to purchase and we follow that same process here and every single sale you make from this point on is pure profit to your bottom line so real quick I want to I want to double down on this a bit if we can right so we've run $100 in traffic on this kind of hypothetical uh funnel and we are at day number four we're $51 positive so we have literally just turned $100 into $51 if this is our product we're selling that money goes into our stripe account or our PayPal account instantly we can get daily dumps from stripe I get all mine weekly but literally that money comes straight to you pretty much instantly and now four days later you can not only run your original 100 through but you can increase that budget without going out of pocket so your next time around you know run run number two you do 150 right and guess what happens your numbers hold right so then you're not only getting this but you're getting 50% on top of that because now this time you get 150 Subs right and so since this is 2% now you see three sales at $27 right so that becomes what 81 bucks here and now we've got another person here so maybe they hit this time maybe they don't and that's how this game works is to really take this front end of your funnel and all the money you make when you get to break even you start to profit you put it right back into the ads and you put more people in your funnel the ultimate result is you grow a list from 100 to a th000 to 10,000 I can tell you when you get to the 10,000 list mark it gets kind of fun then you can go to 50,000 and Beyond and when your list grows to a certain level it's that's when the real magic happens because you're doing the same thing you're give give give you you send the same broadcast email um you're actually taking the same actions but the results you're getting can be 10x 100x 50x uh it's it's really powerful so this is the minimum viable funnel and we we took it a little deeper than I expected honestly getting into the numbers and whatnot if you're seeing a 20% conversion right here if you're seeing a one or 2% conversion right here on your first generation of your funnel you are doing excellent and I say work on optimizing it and we optimize it through our headlines and through our sales video is where you can really optimize it and ultimately make sure you're staying in touch with this list because this is the Rel relationship that creates the lifestyle income it's not here it's here is where you're making your lifestyle income I'm miles Beckler I hope this has been informative I hope you take action and get your minimum viable funnel going I've got a video that I'm linking to below here where I actually walk you through the process it's designed for an affiliate funnel like this I walk through the process in full in clickfunnels it takes about 30 minutes I literally like click here you look over my shoulder this is kind of in the clouds work and that video is is the in the dirt of exactly where to go exactly what to click to build this funnel it'll take you about 30 minutes um so I'll put the link to that video below here if you have any questions the comment area is where you can send me your questions I'm happy to answer those questions here in YouTube and if you want that next video when it comes out click the Subscribe button because I got another video coming for you tomorrow thank you again for your time and I look forward to connecting with you on that next video