Hand up if you’ve started a mini project and gotten side tracked by something else – either because you’ve got a family, a bunch of clients you love working with, or just simply a life with life admin that needs doing?

Yep, I see you putting your hand up, and I join you!

I started this series of articles with the intention of releasing one every 7-10 days, but unfortunately for me, school holidays started, my 18-month-old daughter had to go to hospital for breathing problems, and then well, exhaustion hit me, and I. Just. Stopped.

But I’m back, and I’m so excited to share with you the next step in this series to creating your passive income: offering a Feature.

Before I keep faffing on about Features: here are the links to the earlier articles in this series:

1. 3 sure-fire ways to grow your online business
2. Creating a passive income – step 1: Product/market fit
3. Creating a passive income – step 2: Choose a traffic source
4. Creating a passive income – step 3: Offer a Lead Magnet

If you don’t want to read the next amazingly engaging thousand words, here’s a video all about Features (you’re welcome):

 

 

What is a Feature?

It’s the second step in your funnel and you offer your Feature to your leads who have shown an interest in your Lead Magnet. It will be irresistible – bit like the picture of chocolate cupcakes that I chose for this post 🙂 – because it will be high-value and low-cost.

Let’s go back to why we’re creating these sales funnels – to increase the number of customers we have. And we do that by turning our leads into paying customers.

Your Lead Magnet has turned your prospects into leads. Now your Feature will turn your leads into customers (because they’re going to hand over money in exchange for something from you).

Your Feature offer is going to be affordable to your leads – think somewhere between $1-10 – and is going to be irresistible.

Why is the Feature important?

Here’s a little gem about the psychology of buying:

It doesn’t matter how much money a lead hands over to (could be as little as $1), once they’ve bought from you then they trust you and it is extremely likely they will buy from you again.

So the Feature that you offer is important because it’s essentially changing the dynamic of the relationship you have with your lead. Once they buy from you they trust you and they believe that what you have to offer them solves their problems. So, they’re likely to buy from you again into the future.

Now, your Feature offer is going to be a minimal amount, but that’s okay, because you’re not making your living out of your Feature offer. You’re acquiring buyers who have a history of buying from you so that you can sell to them into the future.

This list of buyers is far more valuable to you for the next steps in your sales funnel.

Examples of a Feature

The best offer you can give as the Feature will be a chip off your Core Offer (which is the next step in your sales funnel).

Working backwards once you’ve determined your Core Offer will make your sales funnel a sequence of steps that your prospect can follow.

So, if your Core Offer is an online mini course in how to create a landing page, your Feature could be the first module of your course, and your Lead Magnet could be a cheat sheet on how to lay out a highly-converting landing page.

In this example, your Lead Magnet is going to be free to build your list, then you’re going to offer the first module of your course as a low-cost Feature (maybe $5), and then you’re going to offer your online mini course as your Core Offer (maybe $50, maybe $100, maybe $250 – depends on how much value you pack into your mini course).

The cost of what you’re offering doesn’t really come into play if you are solving your prospects’ problems – this is why I kept faffing on about it in previous articles! Know what problem you’re solving and actively solve it!

Once you scale this example up and start offering e-learning courses at a value of $5000, then you can see how you’re going to start creating a solid income.

How can your leads access your Feature offer?

You recall from the previous article that you would have created a landing page that houses your Lead Magnet.

Once your lead has given you their email address in exchange for their free download, then you’ve got their address for future email marketing (very important to remember this for future email marketing strategies – I’ll probably write another post about this).

However, after they immediately download their free offer from you, then they are primed and ready to be blown away by your low-cost Feature.

They are redirected to a thank-you page and provided with the opportunity to purchase a one-time offer from you.

Knock their socks off with your copywriting magic to encourage them to purchase from you.

I promised some fancy-pants tricks; here they are

I signed off my last article with the promise of some copywriting fancy-pants tricks (also, I’m pretty excited to have been able to use the word fancy-pants three times in this article!) to encourage your leads to purchase from you.

Here they are:

  • Tell your leads not to close the thank you page because there is important download access
  • Tell your leads that their download will be available in their inbox in a few minutes
  • Tell your leads that while they wait to scroll through the exclusive offer you have for them
  • Provide your leads with your Feature
  • Make it easy for your leads to purchase your Feature (hint: big bright buttons work)

You should make it super obvious the steps that you want your lead to take:

Step 1: Don’t close this page
Step 2: Access your download in your inbox in 5 minutes
Step 3: Read this exclusive offer
Step 4: Here are some benefits to you for accessing this exclusive offer
Step 5: Purchase your exclusive offer here

How to make the upsell to the next step in your sales funnel

The next step in your sales funnel is your Core Offer and it’s the upsell from your Feature.

Once they’ve purchased your Feature, your lead is now your customer and you’re going to offer them another chance to purchase from you – by upselling to your Core Offer

How? Where? When? Why? Then what?

So many questions!

All the answers in the next article.

 

Storm is a writer who likes to write by the rules. Finding and fixing errors makes her quite happy. So does chocolate, red wine and a good romcom. She also quite likes playing team sports. It brings out the best in her bossy nature. Read up on her here.

 

 

Summary
Creating a Passive Income – Step 4: Offer a Feature
Article Name
Creating a Passive Income – Step 4: Offer a Feature
Description
Step four in creating a passive income is to offer a feature that goes one step further in solving your leads' problems and turns your leads into paying customers
Author
Publisher Name
Virtual Storm
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