In this article I am going to address a common theme that I am all to often coming across, how you can make more money on your website.
In order to answer this question we need to briefly look at the marketing funnel and point of sales opportunities whilst the visitor is on your website and how we can increase sales after they have left.
You need to have multiple opportunities to create sales through adding different products or components to your sales process or funnel
1. Cross sell related items at the point of sale for more profits
Instead of just having your order page and the order button think of having what I call cross selling opportunities. It’s simple and Amazon.com are excellent at doing this. All you have to do is show options to buy several other products at a discounted rate if they make the purchase there and then. Since they are getting their wallet out a percentage of buyers are in the mindset to just buy more. So you have to offer that facility. You can do this by just adding a tick ox saying ‘add these to my order.’
If you haven’t got anything to up sell then use cross selling.
2. Up sell on your original product offer
Simple you can create an up sell, this is like an upgrade you can do this by adding components or forms of your product. So if you sell digital products such as the classic e-book, them just create an audio mp3 version and up sell this option or make a video course or even have your down-loadable e-book in a spiral bound hard copy that ships out. If you sell a physical product then up sell express delivery, or extra support or service packages ad extended warranties you get the idea.
To make the offer compelling you need to use some psychology here:
You need to show some element of scarcity, i.e. creating the need to buy now either through a limited time or limited stock. This will make the desire strong to commit to purchase there and then.
How to get more sales when your offer has been turned down!
3. Introduce a down sell when they have turned down your first offers
The down sell is the opposite to an up sell here you can create an offer approximately 50% lower than the original offer as a 2nd chance to capture some sales. You can easily do this buy bulking up your first offer with some bonus items and just take away the bonuses to have a higher perceived value for your down sell. There are many ways to use this; you can offer a reduced or light version of your product or bundle.
This works great and again adding the scarcity element saying last change or for today only, will add more buyers where otherwise you would have lost that opportunity to make the sale
4. Have a strong backend to maximize sales to active customers
This is extremely important it’s a fact that it is 5 times easier to sell additional products to an active customer than to a new prospect. So you must have some form of selling additional higher priced products to these customers. Since you may have paid an acquisition cost to obtain their custom in the first place any additional sales is effectively bonus sales with no more expenditure to that particular customer just an email loaded with you r offer or affiliate offers to capture more sales is what you need
Re assess your offers and marketing funnel, by adding more opportunities for sales by cross selling related items using scarcity and buy now discounts than to buy them separately alone.
Add up sell s to your order flow by breaking up your original product or creating new media versions or adding services and intangible elements.
Make sure you have a strong backend system to sell higher priced goods to exiting customers whilst they are hot!
Theo Handen specializes in internet marketing and web2.0 consulting he understands the psychology of selling, website design and flow to get the most profit and revenue from a website, coming from years of face to face corporate sales. For more information on how best to build a profitable system for any website you can visit his site:
http://www.backend-income-secrets.com A full video tutorial homestudy course that really shows you exactly how to maximize your revenue on your websites.
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