"Discover the Killer Marketing Strategy I'm Using to Help Increase My Internet
Marketing Sales by Derek Gehl
People are always coming up to me and asking, "What can you tell me to help
increase my Internet marketing sales?"
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All too often, when I ask them to tell me about their business models, I
discover they're selling only ONE product. So I ask them, "Have you ever
considered selling backend products to your customers?"
Backend products are simply products you can offer to your existing customers,
after they've made their initial purchase.
Because you know what they've already bought from you, you should have a good
idea of other things your customers like to buy. And that should make it easy
for you to think of new things they'd want to purchase!
Backend products can be anything you think your target market might be
interested in. For example, if your site sells cameras, new products could
include:
Add-ons like wide-angle or telephoto lenses for your cameras eBooks that teach
people how to take better pictures Other complementary products, such as camera
cases or tripods The brilliance of this strategy lies in the fact that you
already know what your customers like to buy! So you can easily create highly
targeted offers for them -- leading to higher conversion rates and more
sales... and more money in your pocket!
The truth is, if you're not following up with your customers and targeting them
with highly appealing backend products, you're losing out on a TON of profit.
In fact, by adding just ONE more product to your site, you can increase your
revenues by 30% to 50%!
Why you need to think "lifetime value" rather than "single sale"
The other day I got an email from Amazon.com telling me about a new Internet
marketing book they just got in stock.
They knew I might be interested in it because I'd bought other Internet
marketing books from them before. (Hardly surprising, right? :)
And I was interested in that new one, too! In fact, as soon as I got Amazon's
email, I immediately clicked through to their site, checked out the book, and
bought it!
And in doing so, I boosted my "lifetime value" to Amazon by another 20 bucks.
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Lifetime value is simply the income generated by a single customer over the
course of your relationship with him or her. If you sell only one product, then
your customers' lifetime value will be limited to the net income that comes
from a single sale of that product.
But if you sell a wide range of products, your income will grow exponentially!
And selling to existing customers is easier and cheaper than selling to
strangers because you've already cultivated a relationship with them: You've
put in the time and money to...
Get their attention Establish your credibility Build their trust in you
Overcome any resistance they may have to buying online Close that first sale On
top of that, you now know what your customers like!
So, after that, it's much easier to sell to people a second time... and a
third... and a fourth... and so on.
If you reward your customers for being loyal, they'll reward you by becoming
even more loyal!
Take the book I bought from Amazon... all they had to do was send me an email
about a product they thought I'd like, based on my previous purchase history.
They didn't have to sell themselves as a company to me because I've already
bought from them before.
In fact, I've bought maybe one book a month from Amazon over the last five
years at an average of $20 each -- meaning my lifetime value to them so far is
$1,200!
And it's much easier -- and way cheaper -- for Amazon to sell me 60 books at
$20 each than to persuade 60 new customers to each buy one $20 book.
When to follow up with your customers for maximum returns
The best time to offer your customers backend products is when you're given a
natural opportunity to follow up with them.
Here are some examples of what I mean: You can...
Follow up after a purchase: Right after someone buys from you, you can send
them a "thank-you" message that includes an offer for a related product. For
example, if you sell project management software, you could offer your
customers an eBook that gives them advanced project management tips and
techniques.
Or, if you sell "how-to" guides that teach people how to build their own
sundeck, you could offer customers a special package deal on the tools they'll
need for the job.
Follow up on a purchase anniversary: An easy way to get a follow-up promotion
in front of your customers is to send them an offer one month, six months, or
even a year after they made their first purchase.
Email them to ask how they're enjoying the product, and let them know you've
got similar products available at a special discount price that's being offered
only to previous customers.
Follow up whenever you can provide new products or information: If, for
example, you sell snowboard equipment and clothing, and you've just received
stock of a cool new snowboarding jacket, you could contact your customers who
bought a snowboard or boots and offer them a jacket at a special discount.
They're obviously snowboarders, so there's a good chance they'd be interested
in a new jacket.
The important thing to remember is, the backend products you offer HAVE to be
things your target market is going to be interested in.
Seven killer backend product ideas you can use to expand your profits by more
than 30%
There's no doubt about it: Following up with your customers and offering them
backend products is a great way to boost your profits without eating into your
marketing budget.
But how do you find the killer products that make this strategy so profitable?
It's a lot easier than you think! For example, you can...
Offer products that complement your initial product: For example, if you sell
golf clubs, offer your customers a golf club bag to carry them in.
Or you could offer golf balls, golf tees, golf shoes, golf training videos --
the list is endless!
Sell more of the same product at a discounted price: If your product is
refillable or needs to be regularly replaced, this strategy works especially
well. For example, if you sell things like printer cartridges, camera film, or
batteries, you've got it made!
But even if your product isn't refillable, you can show your customers you
appreciate them by offering them a special discount on the product they've
already bought. That way, if they like the product, they can buy it as a gift
for family and friends.
Use paid subscriptions as backend products: If you've established yourself as
an expert in your industry, you can build on your reputation by offering a
subscription to "premium" information, only available to members, as a backend
product.
For example, if your main product is a fly-fishing kit, you could sell a
subscription to an exclusive course on advanced fly-fishing techniques as a
backend product. You could deliver this paid-for content through a members-only
web site, or by email.
Try splitting up your current product: For example, if you were selling a book
on how to "declutter" your home, you could offer a basic version for $9.95 to
generate a large volume of sales at a low price. Then, 30 days later, you could
offer your customers an advanced, expanded version that includes home office
management and scheduling tips for $29.95 or even $39.95 -- and increase your
profits dramatically!
Try selling your customers an upgrade to their product: If they've used and
liked your basic model, your customers will be open to receiving offers for the
upgrade version.
For example, if you sell eBooks teaching people how to use a particular piece
of software, you can sell updated versions to previous buyers when the software
package in question is upgraded.
Write a book or create a video: eBooks are great backend products with high
profit margins! Consider writing a short book on a topic that's related to your
product or service. For example, if you sell gourmet puppy food, you might
consider writing a book titled, "Training Secrets That Will Have Every Puppy
Housebroken and Learning Basic Obedience in Less Than One Week!"
You could even offer a special video that complements your product or service.
For example, if you sell barbecue equipment, you might offer a video that
teaches people how to perfect their barbecuing technique.
Offer someone else's product! Probably the fastest -- and EASIEST -- way to add
new products to your site is to join another business's affiliate program and
recommend their products in exchange for a percentage of each resulting sale.
Selling affiliate products can be a very lucrative way to increase your sales,
especially since you don't have to spend any time or money developing a new
product of your own!
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About the Author
============================================= Derek Gehl specializes in teaching
real people how to start profitable Internet businesses that make $100,000 to
$2.5 Million (or more) per year. To get instant access to all his most
profitable marketing campaigns, strategies, tools, and Subscriptions that he's used
to grow $25 into over $60 Million in online sales, visit:
http://www.marketingtips.com/emailsecrets/t.cgi/883561
