Expert Effective Product Matrix for Business
Creating a product matrix is an important step towards the sustainable development of your business. This model allows not only to attract customers, but also to increase the average check, repeat sales and profits. This is most clearly represented in the form of a funnel, where each level is a specific type of product that performs a certain function.
Let us examine the key elements of the product matrix.
Lead magnet
Purpose: Attracting attention and gathering contacts
Example: Free probe, checklist, mini-course, webinar
A lead magnet is your “hook” to capture the attention of a potential customer. It is free, easy to consume, and provides quick benefits.
Your job is to make it clear: You are an expert and can be trusted.. It could be:
- Template.
- Free test drive
- Trial consultation
tripwyer
Purpose: Turn a lead into a buyer
Example: Cheap product from 300 to 1000 rubles
Tripwyer is the first toll stage, usually with a very low entry threshold. It is necessary for the person to make the first purchase and psychologically become your customer.
Examples of tripwires:
- Mini-product
- One-time special offer
- Master class
- PDF Guide with Advanced Information
Important: quality should be highSo the customer wants to move on.
Main product
Purpose: Main source of income
Example: Flagship course, consulting package, coaching
This is your main product or service, which is the main focus of business. It solves the main problem of the client and brings the greatest revenue.
Often the main product:
- Most sought after
- It has several rates.
- Packed as a sales funnel
Examples:
- Online course for 6 weeks
- Implementation services
- Group programme
- Comprehensive audit
Maximizer arrived
Purpose: Increase the average check
Example: Upsale, additional module, VIP access
After buying the main product, the customer is already warmed up and ready to buy more.
Your task is to offer it a logical continuation:
- Individual work
- Extended functionality
- Turnkey setting
- Extension of access period or escort
The right maximizer can increase the check 2-3 timeswithout requiring new customers.
The path of return
Purpose: Repeated sales and subscriptions
Example: Subscription, subscription, club
Entrepreneurs often miss this stage. Returning customers is cheaper than attracting new ones.
The path of return is:
- Subscription to a closed community
- Monthly subscription for services
- Loyalty Programme
- Sale of additional blocks if you have passed the main course
Important: Think about why the customer should come back. And how to keep his attention.
How to use the product matrix?
- Evaluate current products: What levels are there?
- Identify "failures": There may be a missing tripway or return path.
- Create the missing links: Start with the lightest one, the lead magnet.
- Automate the funnel: integrate stages in email marketing, messengers and social networks.
- Test and improve: Keep track of conversions at each stage.
The product matrix allows you to build a logical funnel, in which each customer receives value at its own level and gradually moves to the main and repeat products. This increases:
- Conversion to sales
- Average check
- Re-purchases
- Total profits
