Choosing Your First Funnel Strategy: From Idea to Verification
Welcome back to Part IV of The Basics of Online Course Creation: A Friendly Guide! In Part III, we laid the groundwork by writing about the importance of planning your activities for the upcoming year and familiarising yourself with the basics of funnel strategies. We talked about the TOF, MOF, and BOF stages (Top of Funnel, Middle of Funnel, and Bottom of Funnel) and how to approach each. You also learned about the four main funnel types: webinars, mini-products, high-ticket sales, and lead magnets. Your task was to choose one of these strategies to start with.
Today, we’re moving on to the next critical step: idea generation and verification. This is where we take your chosen funnel strategy and start fleshing out the details of what you will create. It’s all about planting the seeds of your ideas, nurturing them, and ensuring they are viable in the market.
The Importance of Idea and Verification
Think of your ideas as seeds. You’re planting them in the fertile ground of the online business market. Just as seeds need the right conditions to sprout and thrive, your ideas need careful planning and validation to ensure they succeed. Today, we’ll focus on how to generate solid ideas, verify their potential, and ensure they are robust enough to grow into successful products or services.
Steps to Generate and Verify Your Ideas
1. Identify Potential Ideas
Start by brainstorming a list of potential ideas that align with your chosen funnel strategy. Look at your niche and think about what problems you can solve or what unique value you can offer. For example, if you choose a webinar funnel, consider what topics you can teach that would attract your target audience.
2. Research and Validate Your Ideas
Once you have a list of ideas, it’s time to validate them. This involves researching your market to see if there is demand for your idea. Look at competitors, search for keywords related to your idea, and check out forums and social media to see what people are talking about.
3. Evaluate Market Demand
Assess whether there is a substantial demand for your idea. Tools like Google Trends, Keyword Planner, and social media analytics can help you gauge interest levels. For instance, if you’re considering a mini-product funnel about gardening, check how often related terms are searched and see what kinds of products are currently popular.
4. Test Your Idea
Before fully committing to your idea, run a small test. This could be a pilot webinar, a free lead magnet, or a mini-product offered at a low price. Use this test to gather feedback and measure interest. If people show a strong interest, it’s a good sign your idea has potential.
5. Refine Your Idea
Based on the feedback and data you gather, refine your idea to better meet the needs of your target audience. This might involve tweaking your content, adjusting your pricing, or changing your marketing approach.
Examples of Successful Idea Verification
Case Study 1: Ladiesnightsclub.com
One of my early successes was creating the website ladiesnightsclub.com. I noticed my side project, networking events for the Polish ladies in Dublin, was generating a lot of interest, but I did not have a website about it. I filled this gap and the website became profitable through Google Ads, proving the potential of finding and addressing niche markets.
Case Study 2: Live Shows During COVID-19
During the COVID-19 pandemic, I founded a brand called Hello Irlandia Live Show, producing online live videos about social and political issues when there was a high demand. We quickly validated the idea through market research and launched it successfully, although social media channel regulatory changes later affected the business.
Applying the Funnel Strategies to Your Ideas
Here’s how you can apply each funnel strategy to your validated ideas:
Webinar Funnel
- Idea: Conduct a series of webinars on organic gardening.
- Validation: Research gardening forums and social media to gauge interest.
- Test: Host a free introductory webinar and collect feedback.
- Refinement: Use participant feedback to refine your webinar content and marketing strategy.
Mini-Product Funnel
- Idea: Create an e-book or video series on beginner gardening techniques.
- Validation: Check search volumes for related keywords and competitor products.
- Test: Offer a free chapter or video to gauge interest and collect email addresses.
- Refinement: Based on feedback, adjust the content and price of the full product.
High-Ticket Funnel
- Idea: Offer a comprehensive gardening masterclass with one-on-one coaching.
- Validation: Survey potential customers to see if they’d be willing to invest in a premium course.
- Test: Run a small pilot programme with a few participants.
- Refinement: Improve the programme based on participant feedback before a full launch.
Lead Magnet Funnel
- Idea: Provide a free guide on seasonal gardening tips.
- Validation: Measure interest through social media engagement and landing page conversions.
- Test: Launch the lead magnet and track sign-ups.
- Refinement: Optimise the guide and follow-up email sequence based on initial user engagement.
Your Task for Today
Today’s mission is to generate and verify your idea for your chosen funnel strategy. Follow these steps:
- Brainstorm Ideas: Write down potential ideas that align with your funnel strategy.
- Research and Validate: Use online tools and market research to validate your ideas.
- Test Your Idea: Run a small-scale test to gather feedback.
- Refine Your Idea: Use the feedback to improve and solidify your plan.
Finally, share your progress with the Web2Learn community. Post an update on what idea you’ve chosen and how you plan to validate it. Engage with fellow members for feedback and support.
Remember, the goal is to plant the seeds of your ideas, nurture them, and watch them grow into successful ventures. By following these steps, you’ll be well on your way to creating a profitable and sustainable online business. Happy planting!
CHECKLIST
Brainstorm the Best Title for Your Online Product
Define Your Target Audience
Understanding who your webinar is aimed at is crucial for creating effective titles. Try to identify their main problems that you can help solve.
Prepare Various Webinar Titles
It’s always good to have several different title options. Aim to create titles that are both intriguing and clearly describe the content of the webinar.
Test, Optimise, and Repeat
Conduct A/B tests on different titles to see which ones attract the most participants. Don’t forget to also optimise the content of the webinar itself.
Plan Your Sales Strategy
Consider a “downsell” strategy. Can you offer a cheaper product or service to participants who decide not to purchase the main product?
Maintain Long-Term Communication with Clients
Remember, acquired leads are not one-time customers. Keep in regular contact with them to increase the chances of their re-engagement in the future.
Analyse and Adjust
Monitor your results, analyse them, and make necessary adjustments. Marketing is an ongoing process of learning and adapting.
