What Is A Value Ladder? (And Why You Need One In Your Business!)
Are you losing money in your business even though you are running ads and sales funnels? Are you focused on only bringing more people into your sales funnel? If so you are focusing on the wrong area of your business.
In this article I am going to teach you about the value ladder and how to start making a profit in your business. A value ladder is a method of mapping out your product or service offering visually in ascending order of value and price. The value ladder is a powerful marketing and sales strategy to use for your business. Once you understand how to use the value ladder for your business and implement it into to your strategies you could take your company to the next level.
Once you have your sales funnel set up, you shouldn’t need to spend a lot of time trying to bring people in. You will just have to spend money to bring them in.
How the value ladder works, you start with a free or low cost product or service to bring more clients into your company and list. Once the customer is in the funnel and are buying your low cost item you can move up your value ladder and offer them something with more value at a higher cost.
Now you will have the customer on your list and you can proceed up your value ladder by offering your other products that are worth more money to them. This is where you will make your profits in the back end of your business. This is what you want to spend most of your time focusing on. Here are example of things to use on the back end to make a profit, subscriptions are a great way to get paid monthly, High ticket products are ones that won’t get a ton of sales but will make you the most profit, and there are other offers that depending on the kind of business you have you can use to bring in profits.
Heres an example of how a value ladder works. Lets take a company everyone knows, Apple. They first draw you in with their iphone since it is one of their cheaper items. Now that they got you hooked with the iphone your have to get an ipad then move on to a macbook, then the Imac. They also have other products like the apple watch, apple tv, apple pay, and apple music all of which they don’t have to spend advertising on since they have the rapport with their customers. This is just one example of a company that has been doing it and succeeding at using the value ladder strategy.
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