It's wonderful when your e-book or video set is selling like hotcakes, but hard on your bottom line when it goes through a sales slump. With any product, you can experience a number of peaks and valleys in your sales - as promotions by affiliates come and go, competing products steal your thunder for awhile, or seasonal sales spike and drop.
You can buffer these peaks and valleys - and create a stable income from your infopreneur business. Build a system that weathers the sales droughts - that won't be affected by slow sales of any one product.
Create A Product Line, But Diversify
As you build a product line, create products that target the same market. By keeping all your products targeted at the same market, you can focus all your energies on building your presence in that market. You'll also be able to keep selling more products to the same customers, on your all-important mailing list.
However, you can diversify the type of products that you sell to this market. Create reports, e-book, videos on a number of subjects that affect your target market. Build a number of diverse product lines.
An Example Of Building Diverse Product Lines
Targeting small retail business owners.
You might enter the market with a small report on effective displays of a certain type of product. Then, follow up with an e-book on store design, and follow that with a DVD that demonstrates customer traffic flows through different store layouts.
Now, you've built a product line around store layout, and it's time to diversify. You could introduce a report on hiring practices that ensure good, trustworthy employees, or a plan to thwart shoplifting, or a guide to finding better suppliers.
You'll establish the beginnings of a second line that you can still easily promote to your current customer list, but will also bring in a lot of new customers. As you build your product lines, you'll also build your customer list.
Build A Network Of Product Lines
Keep building new product lines - one at a time. Get a number of products established in a line before you start building another one. With each new product line, you can take a step further away from your original product line, until you have a number of lines that service different needs in your market.
Are you ready to "Live the Life of Riley"? Get your FREE, no obligations, no opt-in copy of Kevin Riley's fantastic new report "Your Online Money Factory". As one delighted reader gushed, "This report is a roadmap showing me the procedures to construct my own Money Factory, each critical element is mentioned." Get it now! Go to: http://YourOnlineMoneyFactory.com
This TAG-A-THON post is in support of Congenital Heart Defects awareness. More details here.
Showing posts with label product line. Show all posts
Showing posts with label product line. Show all posts
Sunday, July 8, 2007
Monday, July 2, 2007
To Sell More Product You Have To Keep In Touch With Your Customers
When prospects come to your website, do you want them to buy just one product, or do you want them to come back and buy more?
It doesn't take an Einstein to come to the conclusion that making more sales to each customer is going to add a lot more to your profits. After all, if you're using any kind of paid advertising, it's costing you money to get those customers to buy from you. But, once they're in the front door, it hardly costs you anything to sell them a second helping.
So, when you're planning your online business system, don't plan just one product - plan a whole product line. You might not create all the products at first, but do have a plan for adding complementary products to your line.
Starting Off Small
Your first product should be low in price, but high in quality. A report with a price tag of less than $10 is a great start. This keeps the objection to buying low, and gets customers into your sales funnel.
What's a sales funnel? It's a system you build which starts with low-priced products (like $7-10 reports) ... slowly pulls the customer in deeper, to buy mid-priced products (like $25-40 e-books) ... and then down into the depths of the funnel until they're buying high-priced products (like $100-300 home study courses).
Balking At High Prices
A new customer - who doesn't know you or your track record - is very unlikely to buy your $150 set of DVD tutorials the first time they land on your website. You haven't proven yourself to them, and they're not about to fork over that kind of money to an unknown.
However, a $9.95 price tag - on a report that promises to solve a problem for the - is not such a big gamble. The risk is low, and they're much more willing to take a chance on you.
Then, after discovering that your $9.95 report is quite good, they may return to order that $29.95 e-book of yours - which promises to give them even more benefit.
Bringing Them Back For More
To keep your customers around long enough to make that decision to buy a mid-priced product, you need to add a very important function to your online business. You need to install a system that collects names and e-mails. You need to get every customer onto a mailing list.
Then, you must keep in touch regularly - with a newsletter. Your newsletter can highlight your expertise even more - by giving away some valuable bits of information. And, it can pre-sell your mid-priced products - by giving away just enough information to whet the reader's appetite for the "how-to" information that's in your e-book.
Your Winning System
With a good line of related products, and a newsletter to remind your customers of those other products, you'll sell a lot more to each customer. And, those extra sales will make a lot of difference to the success of your online venture.
Are you ready to "Live the Life of Riley"? Get your FREE, no obligations, no opt-in copy of Kevin Riley's fantastic new report "Your Online Money Factory". As one delighted reader gushed, "This report is a roadmap showing me the procedures to construct my own Money Factory, each critical element is mentioned." Get it now! Go to: http://YourOnlineMoneyFactory.com
Join the Heart Kids Tag-a-thon. Help spread Congenital Heart Defects awareness. More details.
It doesn't take an Einstein to come to the conclusion that making more sales to each customer is going to add a lot more to your profits. After all, if you're using any kind of paid advertising, it's costing you money to get those customers to buy from you. But, once they're in the front door, it hardly costs you anything to sell them a second helping.
So, when you're planning your online business system, don't plan just one product - plan a whole product line. You might not create all the products at first, but do have a plan for adding complementary products to your line.
Starting Off Small
Your first product should be low in price, but high in quality. A report with a price tag of less than $10 is a great start. This keeps the objection to buying low, and gets customers into your sales funnel.
What's a sales funnel? It's a system you build which starts with low-priced products (like $7-10 reports) ... slowly pulls the customer in deeper, to buy mid-priced products (like $25-40 e-books) ... and then down into the depths of the funnel until they're buying high-priced products (like $100-300 home study courses).
Balking At High Prices
A new customer - who doesn't know you or your track record - is very unlikely to buy your $150 set of DVD tutorials the first time they land on your website. You haven't proven yourself to them, and they're not about to fork over that kind of money to an unknown.
However, a $9.95 price tag - on a report that promises to solve a problem for the - is not such a big gamble. The risk is low, and they're much more willing to take a chance on you.
Then, after discovering that your $9.95 report is quite good, they may return to order that $29.95 e-book of yours - which promises to give them even more benefit.
Bringing Them Back For More
To keep your customers around long enough to make that decision to buy a mid-priced product, you need to add a very important function to your online business. You need to install a system that collects names and e-mails. You need to get every customer onto a mailing list.
Then, you must keep in touch regularly - with a newsletter. Your newsletter can highlight your expertise even more - by giving away some valuable bits of information. And, it can pre-sell your mid-priced products - by giving away just enough information to whet the reader's appetite for the "how-to" information that's in your e-book.
Your Winning System
With a good line of related products, and a newsletter to remind your customers of those other products, you'll sell a lot more to each customer. And, those extra sales will make a lot of difference to the success of your online venture.
Are you ready to "Live the Life of Riley"? Get your FREE, no obligations, no opt-in copy of Kevin Riley's fantastic new report "Your Online Money Factory". As one delighted reader gushed, "This report is a roadmap showing me the procedures to construct my own Money Factory, each critical element is mentioned." Get it now! Go to: http://YourOnlineMoneyFactory.com
Join the Heart Kids Tag-a-thon. Help spread Congenital Heart Defects awareness. More details.
Subscribe to:
Posts (Atom)
