What is a "Self Funded Proposal"?
"Self Funded Proposal" is a strategy which has your prospects pay for your marketing in one way or another, regardless of whether or not they bought from your primary business.
It is a marketing strategy which incorporates a means for offsetting the cost of marketing. And I'll show you how to set one up for yourself and start generating leads at no cost!
So read on. :)
By Raymond C Fong at www.WhoIsRaymondFong.com
Components of a Self Funded Proposal
- Traffic Generation - Getting potential costumers to visit your website
- Capture Page - Collecting visitor's contact information (much credit goes to Eben Pagan)
- Newsletters - Your digital form of creating relationships with your clients
- Salespage - Where you convey how much your product/service will benefit your client (and where they purchase that product/service)
- Frontend/Backend Product - Your money maker
Message From Raymond Fong
Hi there!Thanks for visiting my MLM Lead Generation lens. I truly hope you enjoy your visit and find the information posted here useful.
If you have any comments, questions, or advice how I can improve this lens, please feel free to contact me at the Attraction Marketing Formula Contact Us page.
Thanks again and enjoy!
Raymond
P.S. Please don't forget to rate this lens and sign the guestbook :)
Self Funded Proposal Component #1 - Traffic Generation
What's a Website Without Traffic?
The old saying, "if you build it, they will come", doesn't hold true anymore nowadays.Fact of the matter is, in this day and age, you can build the hottest thing since sliced bread but if no one knows about it, nobody will come.
You need to figure out how to get people to come to your website, and this comes in the form of online traffic.
Unless you are some hot-shot corporation such as Coca-Cola or GM (which you probably are not), you can't afford the MILLIONS of dollars they spend branding themselves. You can't afford to get out on the national airwaves and go through all the traditional form of marketing such as newspaper ads, radio ads, billboards, etc.
Not yet anyway.
But that's fine because this is where the power of Web 2.0 comes in. You can afford to bring in laser targeted audience rather than broadcasting it to the world an hoping some people will be interested.
You will be spending money only on those that have demonstrated some form of interest in what you have to offer as opposed to spending that marketing money on anybody and everybody... even those who have shown no interest.
And the better news for you is? Some Web 2.0 marketing methods are even free!
You can pay for services such as Google AdWords, Yahoo Search Engine Marketing, and MSN ADCenter, to bring in highly targeted traffic.
You can leverage your expertise, time, and effort and create articles for Squidoo.
You can put up creative ads on classified ad sites such as Craigslist.
I'll be putting up a lens dedicated to Web 2.0 Traffic Generation Methods soon, stay tuned. I'll be sharing over 17 methods of traffic generation, courtesy of Attraction Marketing Formula as part of our Self Funded Proposal series.
Until then, have a quick peek at the list of traffic generation ideas I will be covering in the list below.
Self-Funded Proposal Traffic Generation Methods
17 Methods to Drive Traffic to Your Site
- Pay Per Click including Google AdWords (or as some like to call it... "Yahoo AdWords"
- Search Engine Optimization (SEO)
- Forums
- Blogs
- Press Releases
- Article Marketing
- Social Content
- Social Bookmarking
- Classified Ads
- YouTube
- Cost Per Thousand (CPM)
- Co-Reg
- Direct Mail
- Traditional Form
- eBay
- MySpace
- Ezine Ads
Breaking Down "Self Funded Proposal"
Self Funded Proposal Component #2 - Capture Page
Capturing Your Prospect's Information
What exactly is this this? Simply put, it's a list of contact information of all those prospects who's visited your site; it's a list of contact information of those who have demonstrated interest in who you are and what your business is.
One of the downfalls of most traditional small businesses - both on and offline - is paying money to market to the SAME costumers. With that list, you don't need to spend a dime to market to them (this ties in with the next Self Funded Proposal principle).
Think of this list as the life line of your business.
Having said, that, here are some pointers to creating your own "capture page" as we call them. It's called a capture page because its intent is to capture your prospect's contact information.
(As a sidenote, Eben Pagan is the marketer many credits for coming out with the first capture page... he's also known as David DeAngelo.)
To do this, you need to give convincing incentives to your prospect to give you their information. You do this through
- Providing a bribe
- Demonstrating expertise
- Offering valuable information
- Earning trust (no one will give you their contact information if they think all you are going to do is spam them)
There are several key components in a capture page which are shown below (along with the accompanying screen shots of the MLM capture page, please click on the pictures for a bigger version):
- Qualifying pre-amble headline (optional)
- Headline
- Sub-headline (optional)
- The bribe
- Benefits for exchanging contact info for the bribe
- Call to Action
- No spam guarantee
- Miscellaneous stuff such as logo, quick bio, mug shot, etc. (optional)
Self Funded Proposal Component #3 - Newsletters
Staying in Touch
Now that you have your prospect's contact information, so what? What do you do? Well you use the contact info you have acquired and stay in contact with them, duh!Before you go off and start spamming your prospects on an hourly basis… let me share with you how to appropriately and effectively use that list of contact information.
Remember, the goal is to ping your subscriber's radar now and then and basically remind them of you and your business. However, it goes beyond that. You want to remind them the GOOD things about you and your goods/services (remember, the W.I.I.F.M., what's in it for me, factor?). You want to let them know just how much benefit you/your product can and will bring to their lives. You want to give them samples of the sort of high quality information/content they can expect from you.
And just as importantly, you want to show how much you care about them and the problems they may be facing (which you/your product can help solve). Remember the famous quote, "people don't care about how much you know, until they know how much you care."
So how do you do this?
You do this by providing free information to your prospects. Depending on what type of market you are in, they can vary in content.
For example, in Attraction Marketing Formula's self funded proposal, the newsletters that go out include the 10 day boot camp (which is also the bribe -- we'll get to that later) along with other information packed newsletters that goes out every few days. These electronic newsletter's goal is to first and foremost add value to the client -- in the form of free information.
Not only are the newsletters adding value to your prospects while elevating your expertise, you are also reminding them of who you are and what you have to offer.
You see, a person's buying decision is also a function of timing -- just because that person may not have bought from you today doesn't mean he/she won't tomorrow or the day after. But people are forgetful. So your newsletters also serve as a "reminder" -- it pings their radars and go "don't forget about me -- whenever you are ready!"
Opt-in to the Attraction Marketing Formula free newsletter series to get an idea at what yours should strive for.
Self Funded Proposal Related Lens
Other Lens I have in the Works :)
-
Raymond Fong
-
Hi there! Raymond Fong here. Thanks for visiting my lens. Here you will learn a bit about myself and how I can help you in your entrepreneurial pursuit. This will contain the starting point to the different internet marketing tactics...
-
7 "Killer" Secrets to Online MLM Lead Generation...
-
You NEED to look beyond just "talk to your friends and family" if you want to build a huge self-sustainable Multi Level Marketing (MLM) Business in this day and age. The whole "make a list of friends and family, asking for referr...
Self Funded Proposal Component #4 - Sales Letter
Salesmanship in Print
By now, you should have driven lots of targeted traffic to your capture page where you captured your potential costumer's contact information (check out an example capture page similar to Eban Pagan's capture page that started this whole revolution).You have started creating a relationship with that prospect based on providing valuable free content that will help solve his/her problems. You are starting to establish yourself as the expert with the solution.
Good job!
So what now?
Remember that he ultimate goal of a self-funded proposal is for you to make money -- through providing value to the readers of course as taught by Attraction Marketing Formula.
And your salespage is your gateway to making that money.
A salespage, which can range from a MLM salespage to a martial art salespage, is where "sales" will be made(I know... profound eh?) It's where your "salesman in print" (a.k.a. copywriting) gets the chance to show off its (your) skills.
There are several principles you must keep in mind when creating your salespage:
1. Learn the art of copywriting... I can't stress this enough, like I said, it is your salesman in print.
2. Say more with less. While it's been proven that a long copy pulls better than a short copy (i.e. a 20 page long salespage will pull better than a 5 page long salespage), it doesn't mean jack if you bore your reader to tears.
3. Pour your heart into your salespage, make sure you cover EVERY single aspect of your product/service. And by aspect, I mean benefits and not just features. (Review this online MLM lead generation lens for the difference between benefits and features.)
4. Address every possible objection your user might have to purchasing your product/service. Put them out in the open and prove to your reader how silly they really are and invalidate each and every one of them. There's nothing more powerful than being able to "read your reader's mind" and letting them know you understand EXACTLY what they are thinking (and why that thinking shouldn't stop them from trusting you and your product/service).
5. You have a story? Share it! People loooovve stories. They can't help themselves but imagine them as the hero/heroine in that story. So tailor a story that exemplifies how the hero/heroine (that would be your reader) faced his/her challenges and overcame them with the help of your product. Spin the story so it's exciting, intriguing, and so that the reader can't wait to hear what happens next.
6. Make your salespage easy to scan (for those who like to scan a page to determine if it's "interesting enough" to read) so people can get a gist of what you will be talking about right from the get go. Create lists. Add intriguing headings. Have boxes with powerful messages in them. You get the idea.
7. Relate to your reader; walk a mile in his/her shoes. Prove to them that you "get them", that you understand their pain. You immediately create a powerful bond with your reader making it easier for him/her to trust you.
For more in depth guide to writing a powerful salespage, including the famous "15 Steps to Killer Online Sales Letters" and the more advanced salespage strategy, "Q.U.E.S.T.", check out this MLM copywriting guide.
Everything You Want to Know About Self Funded Proposal...
Or at least everything I know :)
Fetching RSS feed... please stand bySelf-Funded-Proposal Component #5
Your Frontend and Backend Product
Presumably you have a product you can actually sell right? I mean, after all that's why you created your self-funded proposal - so you can SELL your product/service. This covers your backend product - this is your moneymaker, the bread winner of your business.And more probable than not, it's quite pricey (considering the fact that your costumers don't completely trust you yet with their money... yet). They are sitting there with their money trying to decide if they can trust you with their money; if they really get the best bang for their buck.
It's akin to going to a mechanic whom you don't know for the very first time - you are not about to let them do a whole rehaul on your engine.
So what do you do? Well, you make it a no-brainer for them. You offer them an "oil-change".
Think of it as allowing them to give you, your business, and your product/service a "test run". It helps to bridge that price gap between your free (and valuable) information via your newsletters to your profitable but pricier backend product.
This cheaper product becomes your "frontend" product.
Considering how much value you have already added to their lives and how much expertise you have already demonstrated, your frontend product should be a no-brainer for your prospect to purchase.
Here's a word of the wise, once again, common to all the other services in your self funded proposal, OVERDELIVER. This is especially important since whether they make the big upgrade purchase to your money-maker (the backend product) largely relies on the quality and "bang for the buck" of your frontend product.
Once they buy your frontend product, don't' be afraid to pitch them your backend right after they make the purchase. There's a psychological effect that takes place once they give you some money (for the frontend product) that makes them more inclined and more at ease to give you MORE money (for the backend product).
So don't be afraid to upsell!
And what happens with the money from your frontend product? Well, that's the beauty of a self funded proposal - it's self funding! The money you make from your frontend should be invested right back into your magic slot machine - generating more leads, more sales, and more money for you!
And that's all folks, your complete self-funded-proposal.
This completes your Magic Slot Machine - you pay nothing (as a matter of fact, you could even end up making a profit) for all of your leads and your marketing.
It doesn't get much simpler than this. :)
Other Lens by Attraction Marketing Formula
Fetching RSS feed... please stand bySelf-Funded Proposal Bonus!
What to Put Up for Your Frontend Product...
Perhaps the simplest and most economical thing for you to do is to create an ebook - it'll be compilation of some the relevant expert knowledge you have which you can offer to your costumer. Here's the trick, "don't tell them how to do, TELL them what to do". And guess where they can go to find the "how"?That's right, in your backend product.
Don't get me wrong, I am not saying skimp on your frontend - what you have in your frontend should be a standalone, capable of being used by itself to produce desirable results for your costumer. I am just saying don't give away any trade secrets.
One example is our Attraction Marketing Formula frontend product - the Magic Slot Machine. In it, we give people capture page, newsletter, and sales page templates and we give them a crash course on how to utilize them. However, we leave the details of copywriting, driving traffic to your site, and making a killer sales page in our backend product.
As for making this an ebook - it's super cost effective because you pay nothing for delivery, it has no manufacturing cost, it's easily updated, and you can easily incorporate more copywriting in the eBook to further promote your backend product, tactfully of course =]
Please rate this lens and leave any comments in the guestbook below. And feel free to contact me at our self funded proposal capture page.
Comments/Questions on Your Own Self Funded Proposal?
Post 'em Here!
Like this lens? Want to share your feedback, or just give a thumbs up? Be the first to submit a blurb!



