Today is the last day of 2013.
If you’re like me, you’ve been thinking about what has worked best over the past year…and how you can increase your profits in 2014 while giving even more value to your clients.
One of my biggest mistakes this past year was ignoring the value of my current customers & clients.
It’s an easy mistake to make. You get so caught up in ‘doing the work of the business’ that you miss the low hanging fruit right next to you.
The most expensive sale you will ever make is the first one to a new customer. It’s infinitely easier to sell to a current buyer.
In fact, one of the strategies I’ve used successfully over the years is leading off with a low cost product such as $1 to $20 immediately after someone subscribes.
Watch the numbers and you’ll see that buyer who spends just $10 is worth at least 10 times the value of the ‘average subscriber. ’
Yes, I’d rather have 10,000 buyers than 100,000 subscribers.
They’ve raised their hand and proven their interest.
Do a great job on that initial sale. Gain their trust.
It’s not just about the sale today. It’s about the lifetime value of a customer.
In fact, I’ve looked at the numbers and have numerous clients who have been worth $25,000 or more to me over the years. A few are approaching $100,000+ in value.
It doesn’t take a large number of those clients to create a profitable long-term business.
And it all starts with one sale…with a mix of related products and services you offer to those same customers.
The fastest way to increase your profits today is by adding an immediate upsell as a one-time offer after someone purchases from you.
They bought product A. Offer them option B that adds to the value or takes the next step in the process.
Their credit card is already out. They’ve already filled in their information and made a purchase. All they have to do is say “Yes” to get another benefit from you.
I was looking at the stats on one of my one-time offers this month.
The original offer is for a $10 product. The immediate upsell is $27.
The upsell is generating a 39% conversion rate.
That’s an extra $10.57 average per customer on a $10 offer.
This upsell DOUBLES the income immediately.
Guess what happens once you include in email follow-up, additional upsells, joint ventures, high ticket offers, and services.
That’s right. You don’t just have a little income stream any longer.
You have a real lifestyle business…that’s profitable today and in the future.
The January issue of the Monthly Mentor Club is all about plugging in profitable funnels.
It’s going to print on January 2nd so time is running out on getting this issue.
- Why most business owners plan their product offers BACKWARDS…and how turning this upside down generates a much more profitable business with happier customers.
- 3 Ways to create upsell offers that serve your customers instead of annoying them. Get this wrong and you’ll anger your customers instead of bonding with them.
- How to use plug-in funnels for infopreneurs, affiliates, consultants, coaches, and ecommerce websites. These strategies can be used with any type of website.