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Conversion Funnel Mastery Certification Answers

This is the post excerpt.

1.
What are examples of a Tripwire Offer? Check all that apply.

Columbia House records offering 7 records for 1 cent.
A carpet cleaner offer to remove a spot for $20.
$4.95 for a credit card knife
A free book offer where the prospect has to pay for shipping and handling.

2.
Which of the following does NOT describe a lead magnet? Check all that apply.

The flagship offer made by a company.
A low-dollar monetary transaction with a prospect.

3.
When optimizing a Core Offer, where should you focus the bulk of your attention? (Select the BEST answer.)

On the overall promise. The Core Offer must speak to and deliver a specific desired end result if it’s going to be effective.

4.
What is the purpose of the Profit Maximizer? Check all that apply.

To increase overall revenues and average customer value.
To make it possible to spend more to acquire even more customers.
To provide additional value to your customers.

5.
Which is NOT an example of a Profit Maximizer?

A “Flash Sale” for all new customers.

6.
What is the purpose of the Return Path? Check all that apply.

To encourage consumption of previously purchased products and services.
Get existing customers and non-purchasers to come back and buy and/or buy more often.
To offer an opportunity for customers to buy additional items that complement the Core Offer they just purchased.
Segmentation, which gives you an opportunity to provide more customized offers.

7.
Which are examples of the Return Path? Check all that apply.

An exit pop-up offering a discount or unadvertised bonus.
A retargeted Facebook ad with a specific offer.
A weekly newsletter sent as a broadcast to your entire list.

8.
Why is this time in history so critical for offering a Tripwire Offer? Choose the best answer.

It’s harder than ever to get people to part with their money, so the lower you can drop the barrier to entry on the initial transaction, the faster you’ll grow.

9.
What is NOT a good example of a Lead Magnet?

A newsletter/ezine

10.
[True or False] The Lead Magnet is always the best entry-point for a conversion funnel.

False

11.
Why is it important to have a Return Path for your customers? Check all that apply.

Most prospects won’t buy on the first visit, so followup is essential if you want to maximize lead and customer values.
It increases both engagement and consumption of products.
Along with the Profit Maximizer, the Return Path allows you to maximize your profitability.

12.
Which of the following are examples of tripwires? Check all that apply.

Paid Webinar
Paid Software/Plugin
Physical Premium

13.
Why are most businesses based on a flawed model? Check all that apply.

They only focus on getting more traffic.
They only focus on individual conversion rates.
Their core offer isn’t an appropriate market match.

14.
What is the primary reason coupons should NOT be used as a tripwire? Choose the best answer.

Coupons are “quid pro quo,” so it’s impossible to deliver value in advance.

15.
Which of these is a Profit Maximizer? Check all that apply.

A bundle/kit
A cross-sell

16. Which is NOT a quality of a great Tripwire offer?

It is the company’s flagship offer.

17.
What is the best way to display value to a prospect/new client?

By identifying little victories that speak to their desired end result and cause them to believe that they can do it.

18.
Which of these qualify as a ‘Little Victory’ as taught in the CVO Growth Plan? Check all that apply.

A back pain clinic offering hope that relief is possible
A weight loss product that makes users feel thinner in 7 days.

19.
Which is an example of a good Lead Magnet? Check all that apply.

A 2-minute video case study showing proof of a specific result.
A specific answer to a commonly-asked question.

20.
Which is an example of a return path? Check all that apply.

Retargeting/Remarketing
Exit Offers
Automated Follow up

21.
Which of these are attributes of a good Lead Magnet? Check all that apply.

Has a High Perceived Value
Is Ultra Specific
Offers “One Big Thing”

22.
Which of these is NOT an attribute of a high-converting landing page?

It has button colors that match the brand colors.

23.
[True or False] A well developed Lead Magnet and Tripwire can improve a bad Core Offer.

False. Adding a Lead Magnet and Tripwire cannot fix a core offer that fails to deliver on the customer’s “desired end result.”

24.
What are the primary benefits of a Tripwire? Check all that apply.

Once they’ve bought something they’re more likely to buy something for more money.
Capture additional contact information including mailing address.
It turns a prospect into a customer.
Allows the prospect to achieve a “little victory” that causes them to believe that they can achieve their ultimate desired end result.

25.
What is the goal of CVO?

Increase the Average Value of every customer.

26.
According to the CVO method, what is the main purpose of the Lead Magnet Offer? (Select the BEST answer)

To provide an irresistible bribe that compels them to give you their contact information in exchange for the promised “bribe”.

27.
In what order should your new leads go through the 5 CVO steps?

Lead Magnet, Trip Wire, Core Offer, Profit Maximizer, Return Path

28.
What is the Primary difference between CVO and CRO?

They both concentrate on conversion rates but CVO places a greater emphasis on the average value that every customer spends.
Why is it acceptable to only “break even” through the Core Offer Stage of a conversion funnel?

Because there is still an opportunity to monetize your customer with the Profit Maximizer and Return Path.

30.
What should the marketing goal of every business be?

Be able and willing to spend the most to acquire a customer.
31.
What is the main objective of the Core Offer?

It is the flagship product for your company that solves a unique problem for the target market you have identified.

32.
Which stage is the most misunderstood and under utilized of the 5 Stages of Customer Value Optimization?

Tripwire Offer

33.
What is the best definition for conversion?

When a prospect or client takes a page’s intended action.

34.
Where is the best place to put an image on your landing page?

You don’t know until you test

35.
What is the best strategy to determine where you will get the most impact when optimizing a funnel?

Start with Return Path, because there’s no point adding leads and customers into an under-optimized funnel with zero followup.

36.
What is more important, conversion rate or Customer Lifetime Value?

Customer Lifetime Value because it will force you to focus on the big picture and the ultimate goal rather than randomly picking a marketing asset.

37.
One-to-one consulting and “done for” programs are typically offered as…

Profit Maximizers

38.
What is the first step for every new CVO campaign?

To determine the product market fit.

39.
Marketing and copywriting can be summed up as:

The display of value by articulating the move from the customer’s ‘Before’ state to their ‘After’ state.

40.
Which four things must a Core Offer impact to demonstrate value to a customer?

What they have, how they feel, their average day, and their status

41.
What are the only three ways to grow a business?

Acquire More Customers, Get Existing Customers To Buy More Frequently, Get Existing Customers To Spend More (Increase Average Order Value)

42.
Why is it beneficial to “splinter” the Tripwire offer from the Core Offer?

Because Tripwire to Core Offer conversion rate will increase if the offers are congruent.

43.
What is the difference between a cross-sell and an upsell?
A cross-sell is a product or service that is not directly-relevant to the previous purchase but is relevant to the customer, and an upsell is a product or service that is directly-relevant to the previous purchase.