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What is the purpose of a self-liquidating funnel in business?
What is the purpose of a self-liquidating funnel in business?
- To maximize profits by selling products at a high price point
- To generate enough cash to invest back into the funnel for expanding reach and increasing sales (correct)
- To offer a range of products with varying prices for customers to choose from
- To provide free products to customers in exchange for their contact details
What is typically the first step in a sales funnel process described in the text?
What is typically the first step in a sales funnel process described in the text?
- Encouraging customers to buy premium products immediately
- Offering a lead magnet to collect customer contact details (correct)
- Providing a free trial for all products offered
- Upselling expensive products to every customer
What is the purpose of providing a 'mini win' in a sales funnel?
What is the purpose of providing a 'mini win' in a sales funnel?
- To increase the overall cost of the core offer
- To eliminate potential customers who are not interested
- To collect feedback from customers on their preferences
- To showcase the value that can be brought to the customer's life (correct)
Why do some customers progress from the 'mini win' offer to purchasing the core offer?
Why do some customers progress from the 'mini win' offer to purchasing the core offer?
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What is emphasized with respect to selling premium offers in a sales funnel?
What is emphasized with respect to selling premium offers in a sales funnel?
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What does the text suggest about viewing sales funnels from a business perspective?
What does the text suggest about viewing sales funnels from a business perspective?
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What strategy is suggested for making sales at different levels within a sales funnel?
What strategy is suggested for making sales at different levels within a sales funnel?
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Why is it important to consider nurturing leads in a sales funnel?
Why is it important to consider nurturing leads in a sales funnel?
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