What Is The Value Ladder In Marketing Your 7 Step Guide To Success
What Is The Value Ladder In Marketing? The value ladder is a strategy that helps guide your customer through the purchase lifecycle with ease.
If used correctly the value ladder will help you sell your products and services while giving the maximum amount of value to each customer through the entire sales process.
So how can you apply this secret framework to your business for better results?
We will break this down step by step below…
What Is The Value Ladder In Marketing
Step 1. Identifying The Right Traffic Temperature For Your Product
Before starting with your value ladder is essential to identify your traffic source and temperature because that will depend on what type of funnel you build. Traffic is generally broken down into these 3 categories.
1. Cold Traffic
2. Warm Traffic
3. Hot Traffic
Cold traffic: These people are ones who have never been introduced to you or your products before. They can be people hanging out in different groups online or people who have never been introduced to your brand.
Warm traffic: These prospects can be those who have already shown interest in your business by website visits, page views, or visiting your ads. They can also be targeted paid traffic.
Hot Traffic: These prospects are ones that are familiar with your product/service. They have visited your website before. They have likely purchased products and are on your email lists.
Step 2. Preframing Your Offer Why It’s So Important
One of the most important things when making a sale is the state of mind or pre-frame that your potential prospect is in before seeing your offer. Why? Because the state of mind that they are in can make a big difference between the outcome of the sale or not.
In the book Sway: The Irresistible Pull of Irrational Behavior 2 different groups of students had a substitute teacher for the class. Before meeting their teacher they were told 2 different stories about the substitute.
One description gave the teacher the background of being selfish, cold-hearted, and rude. Then they introduced the teacher to the students. Many of the students felt negative feelings about the teacher. Saying he was cold, and calloused, that they didn’t like him at all.
The second group of students was given a positive introduction about how kind and fun the teacher was and how much he had an impact on his community with students and friends. Then introduced the teacher to the students. This time the studies had a much different reaction. They felt more positive about the teacher. Saying that he was warm friendly and kind.
Crazy how one introduction or pre-frame can have such a drastic impact on the final result. Likewise, just like in the study we can apply it to the same thing when building out your value ladder. Humans buy off emotion. You can create emotion through storytelling. The story that you tell will determine greatly your outcome.
A pre-frame is extremely important when it comes to cold traffic because it warms up your prospect building trust and credibility before hitting your sales page. Making them more receptive to your offer. Preferame bridges are good for cold traffic or offers that need additional information before hitting your sales page.
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What Is The Value Ladder In Marketing Step 3. Setting Up Your Bait
When it comes to the value ladder in marketing, the bait starts your sales process. Giving away a free product or lead magnets are one of the best ways to get your customer in the door and it gives you an opportunity to provide them with massive value by giving them free stuff that benefits them. Making it a mutual benefit for you both.
This technique is known as reciprocity marketing and has a powerful effect in sales. The idea is that you want to return the favor of giving something to someone who has given you something of value. We see this example of this all around us with restaurants giving away free coupons for food to companies offering free trials for products and services.
If the item helped you and the experience was pleasant you would be more likely to ascend the ladder to the next step of products or services that the business has. Your bait starts the sales process and leads them to the next step in the value ladder.
When choosing your bait think about the types of things you can give away of value for free that compliments your original product. This will likely create a great lead magnet. The more value you give the customer the more trust you will build with your audience. Increasing your chances of making more sales.
Step 4. Your Front End Core Offer
Not every customer will be ready to purchase right now in fact most won’t. But some will… On this page, it’s important to deliver any promises you promised the customer from your lead magnet page and qualify them as a buyer as quickly as possible by introducing them to your first premium offer known as your sales page.
It’s important that this is something that is congruent with your lead magnet and works great for products or services priced for free to $299. For other higher-ticket products and services over $299, you can use different types of funnels for higher-end offers.
Step 5. Middle: Identifying Your Hyperactive Buyers
Adding upsells to your products/ services is important if you want to maximize your return on investment. The truth is if you’re not using upsells in your funnels you’re losing money in your funnel.
According to dot com secrets during the purchase lifecycle, there is only a small window of time that the buying loop is open for a customer to make a purchase. You can take advantage of opportunities to increase your sales by adding congruent upsells or downsells that compliment your original purchase.
Not only will doing this will help maximize your overall profit but you will also maximize value for your customer by allowing them to choose what products and services suit them best at the highest level in your funnel.
What Is The Value Ladder In Marketing Step 6. Accend The Relationship
This is where you’re introducing follow-up funnels communicating with your customers on a daily basis continuing to build your relationship. Here you can offer your prospect a chance to see different offers that might fit them best for what they need. You can do this with backend funnels and other high-ticket products.
Step 7. $ Change The Selling Environment
At this stage, you can take your customers out of the online environment and invite them to other high-ticket events online or in person. You can also get your customers involved in continuity programs for monthly subscriptions or things like training, programs, or other exclusive features you provide.
The key is to continue providing the maximum value the further down the ladder your customers go. As the value increases so does the price of your service. Allowing you to provide the most value for your customers and make the most profit for your business.
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What Is The Value Ladder In Marketing Conclusion
So there you have it, ladies and gentlemen. What is the value ladder in marketing and how you can use it in your business to get lasting results… I hope this information is helpful to you. If you have any additional questions about today’s article please drop them below. As comments are always welcome in the discussion.
Hopefully, by now you can see why the value ladder is so important and why you should be using it in your business. Now it’s time to hit the ground running… Start creating your own value ladder today to build a more profitable business and gain a better understanding of how to effectively sell your products and services.
Until then keep on killing it in your online business and using the tips described above.
See you in the next article! 🙂
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