Tiny Offers Are Big Business
The concept of what was given the name ‘Tiny Offer’ is not at all new.
Formerly and globally known as the Low Entry Offer – one of a number of Self Liquidating Funnel front end offers, Tiny Offers have sprung up around the globe.
One of the key things about the Tiny Offer is the cool name – created and made kind of famous in marketing circles by the talented and skilled Allie Bjerk – a marketer who worked super hard to find this inroad to the Digital Marketing Hall of Fame.
The awesome thing about every member of that hall of fame, is that the members are all extremely humble.
Each one of them has found incredible success – universally through repeated attempts that did not acheive world fame, but DID build experience.
The thing is, success is the residue of hard work and attention to detail – not to ‘luck’ or good fortune and Allie very much deserves credit for her success.
Let’s Look at the strategy behind the Tiny Offer (Low Priced Self Liquidating Funnel)
The Principles Behind The Self Liquidating Offer
The SLO is a classic front end/back end funnel.
The front end is what is advertised.
Generally it’s a low priced offer that offers good value.
The first SLOs generally involved a free lead magnet, just to get the opt in, but there was a shift in 2018/2019 to use low priced offers instead – usually under $30, as a filtering mechanic, as the digital marketing audience was starting to expect way too much for free.
Those with credible coaching ability, experience & knowledge wished to attract a customer who was prepared to pay at least a little for their expertise on the front end.
SLO Back End
The Back End of a Self Liquidating Offer is where the profit lies.
The audience buys into the low priced offer, and is immediately shown a next level of entry – almost always at a much higher price, and this is where the money lies.
Given that the front end of the funnel is focused completely on attracting customers, getting their contact details into the CRM and completing the first and most vital conversion – the purchase of the low priced offer, the front end is literally feeding converted prospects to the first layer of upsell.
So why is it called Self Liquidating?
This is where the genius lies. The front end of the funnel is not expected to provide any profit at all. A successful front end SLO will provide funds for future advertising.
The more successful the front end is, the more the ad spend can be scaled, and the bigger the overall SLO funnel becomes.
Obviously the SLO Funnel’s owner must understand how to establish and scale ad campaigns (almost always on social channels), but this expertise can also be hired.
The front end low priced offer self funds, and also works as the small cog – delivering filtered, qualified leads to the bigger cog behind it – which starts off the process of converting the prospect to a higher spend with an upselll connected to the front end offer – usually with a much higher level of insight or coaching support – also at a relatively higher level of ‘value offering’.
Back to the Tiny Offer…
Getting back to the Tiny Offer concept – the Tiny Offer delivers MUCH MUCH MUCH more value than anticipated.
Both the front end and the back end hold incredible tangible value for the purchaser – when targeted correctly, the offer(s) become a no brainer – it literally would make no sense to not invest.
But that’s not all!!
The real value in the Tiny Offer (and in the SLO funnel) are the upsells and onsells beyond the initial entrance funnel – once the prospect has been converted and onboarded.
The full extent of the back end rolls out the lifetime value of the customer – upsell after upsell, delivering the customer an ever increasing escalator of value driven opportunities to engage & invest – or should I say to happily invest, because with each investment comes a higher level of gain – when the back end is managed ethically and professionally.
For the creator of the SLO based on a low priced or Tiny Offer, the opportunity is to create a community that increasingly grows in knowledge and in solidarity.
It’s a wonderful way to grow a business – all from a tiny offer at the very front end.