If you’ve been around the online Network Marketing business for any length of time, you will want to know what is a funded proposal.
It was made popular by Mike Dillard in his book Magnetic Sponsoring, which I definitely recommend you read.
Online marketers know that the big money is to be made on the backend.
That’s a premium to high priced product which can be sold once a relationship has been made between the marketer and the prospective buyer.
Let’s face it, if you’ve just stumbled upon this site, chances are you’re not going to click and buy something I recommend to you without knowing more about me and trusting me. 🙂
But if you looked at this site and thought, “Yeah he’s OK, I might just enter my email address to get his free report to see if he resonates and can help me.”
Then after you’ve entered your email address, a window popped up offering you a massively discounted product that aligned with my message. That would be a funded proposal.
And it should be priced to be a no-brainer.
What can you use as a Funded Proposal?
Here is one I use.
My funded proposal goes like this.
“I will build you a FREE Marketing Machine Blog, complete with a free Genesis professional theme and all the plugins you need” ..All you have to do is sign up with Bluehost through my link.
That might be something you would be interested in…perhaps?
If you did go for my offer, I would make a commission from Bluehost and you would get a nice blog..A win-win situation.
Then I would use this commission to fund my advertising to attract more customers and build my list, effectively for FREE.
You would have a nice blog, and I would have new customer who I could market to with higher priced products.
Here is another example of a funded proposal If you are in the health and fitness niche.
You could sell a $7 eBook that shows you how you can “Get a six pack in 14 days and lose 14 pounds in weight”
But note, a funded proposal has to provide immense value or the relationship is over for ever.
This process is used. all be it slightly differently in the offline world too.
I’m sure you’ve seen something like this in your mail towards the end of the week.
Walmart might lose money on these items, but they don’t care, because they’ve now got you in the door purchasing all the other lovely hundreds of products they sell.
Restaurants advertise thorough Groupon. “Get 2 meals for the price of 1”
Again, they might lose money, but if they know if you love the whole dining experience, you will tell your family and friends about them and they will get lots more customers. Again a win-win.
What are the Benefits of a Funded Proposal?
- The customer gets a valuable heavily discounted product.
- The marketer knows that he has a customer who got his wallet out and is therefore a responsive lead and not a freebie seeker. This means a good probability of more sales later.
- The marketer gets an instant sale that can be used to fund more advertising.
A funded proposal gives you the ability to infinitely scale
If you have a good funded proposal in place, you now have the marketing money to purchase Facebook adverts for free to build your business to an infinite scale – sound like a good plan?
I hope you have got value and you now know what is a funded proposal is and how you can use it in your business.
Any questions about funded proposals? Please comment below.
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