Adding upsell, cross-sell, and downsell opportunities to your sales funnel will increase average order.
Firstly, what is a sales funnel? In simple terms, it’s the journey that you guide a prospect as they first discover your product or service to the point of them buying and becoming a repeat customer.
Part of making a sales funnel more effective is offering related products as part of your original offer. These are upsells, where they buy your product and some extras and even downsells, where they buy something different from you at a lower price.
Upsells and downsells can increase your average price point for every single order that your customers make. It also increases the lifetime value of every customer.
When you make a sales funnel that is a well-thought-out and includes the right offers at the right time based on your buyer’s journey, you’ll increase your ROI and bottom line. Here are 9 things to test when creating upsell and downsell messages to make your sales funnel work more effectively.
7 Ways To Discover What Customers Think About Your Business
Your business wouldn’t be here without someone to buy your products or services. But there are most likely many other businesses selling the same products and services you’re offering. The opinion that a customer has about your business as compared to your competitor’s business will determine whether the customer will buy from you or from them.
The best way to cement customer trust and loyalty is by asking them what they think of your business. Do you know how your customers would answer this question? Getting customer opinions and feedback is one of the best ways to keep them satisfied with your products or services.
Here are 7 ways to help you discover what your customers think about your business.
Growing a business too fast can cause as many problems as growing a business too slowly.
The difference between a start-up or a small business and a successful and profitable business lies on time and experience. There are many factors that play a big part in how those businesses became successful. These include things like focus, hard work, having the right people and timing.
Scaling your business can make or break it. If you scale up too quickly or recklessly, you’ll create organizational problems that will be difficult to undo. Also, premature scaling can cause your business to fail. On the flip side, scaling your business too slowly could cause you to miss out on important opportunities that come with greater revenue and more resources.
Running your own business is rewarding and challenging. When you start, there’s so much to do, you’re full of enthusiasm and every day seems like a new adventure. Sadly, for many, if they don’t get the (financial) results they’re hoping for, their dream business can turn into a nightmare.
Fortunately, there are a number of ways to make your business better and make the most of the opportunities it offers. Refining and mastering your craft is one of the best.
Most people think of habits as a bad thing. However, habits can be good too. Just as you can develop a habit of doing something unhealthy, you can also build successful habits.
Habits are one of the most powerful influences in a person’s life and are sometimes called ‘second nature’. They are actions, which we do almost automatically. They can become second nature and this can influence the results of your business. Of course, there are good habits and bad habits, so it’s essential that business owners work on building good habits, which will result in their success.
What value added benefits for customers do you offer?
There are many ways to boost your sales and grow your business, no matter your budget size. However, when you’re working with a tight budget can be daunting trying to add value to your customers and increase your sales while keeping advertising and marketing under control.
It’s easy to start a business online and start selling. There are numerous products online that you can sell as an affiliate but that also means there are many competitors selling the same products and services you’re offering. The difference between the competitor’s business and yours will determine how the customer perceives the added value that you offer. By setting up an effective value added marketing strategy potential customers will be more likely to buy from you, rather than a competitor.
Here are 5 strategies for creating value for customers.
In a nutshell, retargeting marketing, sometimes called remarketing, is a strategy that targets an audience who already knows your business because they have in some way already engaged with it.
For example, if your audience visits your website, you can deliver ads such as banner ads and social media platform ads about your business on other websites that they visit.
Essentially, display ad retargeting is all about using technology such as pixels and cookies that enable you to deliver ads to your previous website visitors. There are many benefits to using online retargeting advertising to get your messages in front of your audience.
Do you have more cash coming into your business than going out?
One of the main reasons a lot of businesses go out of business isn’t because they’re not making money. It’s because they didn’t keep track of their finances and cash flow.
They spent indiscriminately without regard to the money coming in and going out of their business and end up having trouble paying debt – often their taxes. This causes them to have to go out of business and even get fined.
Many smaller offline and online businesses face cash flow problems at some time or another. They will often say that it’s either raining money or it’s a drought. When a new business starts, it’s hard to know when and how the money will flow, and if it’ll slow down during certain times of the year or remain steady. No matter what type of business you have, though, you can fix your cash flow problems with a little bit of thought and planning.
Nearly every business uses upsells. When you buy a pair of shoes, you’re offered polish to go with them or when you buy a burger at a fast food franchise, you’re asked if you want fries with it. These are time-honored examples of upselling in retail to increase the price point of each transaction.
Another time-honored way to ensure you don’t lose a sale entirely is to offer a downsell. This is aimed at people who may have reasons for not needing or purchasing the main offer (usually a lack of funds) but may still want some element of your product or service.
The philosophy of upsells and downsells for any business is fundamentally the same. When your customer is in a buying mood, you want to offer them something else they may be interested in because that’s when they are most likely to buy. Here are 5 tactics to help you gain more profits with your upsells and downsells.
How To Improve Your Online Marketing Strategy Skills
Crafting an effective online marketing strategy will get you more leads and more buyers.
Crafting an effective online marketing strategy always starts and ends with your customers. Your job is to create or find solutions for their problems. Most people go to a website to seek a solution to a problem.
That solution could be just information (in the case of a blog) or it could be a product or service they need (in the case of an ecommerce website). Whatever it is, you need to make it simple for them to find what they seek.
When you put emphasis on developing your online marketing strategy, you’ll be a lot more successful. You’ll get more leads and more buyers than if you don’t develop a strategy.
How To Generate More Online Sales For Your Offline Business
You’re not going to generate more online sales if nobody knows your eCommerce website exists.
If you currently have a business that is mostly offline and you sell a product or a service, you can start to generate more online sales if you set up your website the right way.
In the first instance, you may need to adjust how you target your audience. Those people who like coming to your store might not be the right people to encourage to buy online. Instead, target people who don’t live nearby. Knowing who your customers are, their values, and where to find them online will help generate the extra sales you’re looking for.
Do Your Customers Feel Like They’re the Most Important People in the World?
Do you know how to make customers feel valued and appreciated?
Providing excellent customer service may be one of the most important things you’ll do in your business. After all, if your customer service is poor, you’ll lose current customers and perhaps future customers too when they find out.
Your business wouldn’t be here without someone to buy your products, services or recommendations. That’s a fact. Learning to make your customers feel important so they feel super-special is part of the job as a business owner and should be a major goal going forward.
Do you have the bold confidence necessary to succeed in business?
When it comes to having success in business, your mindset has more to do with your success or failure than you realize. You also may have a negative mindset and not be aware of it. A success mindset in business means that when you have challenges, you’re able to work through them with confidence and clarity.
It means that when you are presented with an opportunity you’ll be able to set fears aside and take advantage of the opportunity and build a more powerful, and more enjoyable, business
Here are 5 keys elements to achieving and keeping a success mindset in business.
Running a successful business means having customers who are willing to pay for your product or service. But how are you going to find those consumers? Who are your best leads? And how do you move them down the funnel and eventually convert them into customers?
That’s why before creating marketing campaigns and optimizing your lead generation strategies, it highly important to build a lead generation funnel first. A proper lead generation funnel will help you to skyrocket your entire conversion process.
This infographic will provide you with all of the data you need to build a lead gen funnel for your own business and help you track your leads as they move through it.
Marketing and advertising is an investment to get customers to buy your products or services.
No matter whether your product is digital or physical, you must promote it if you want to make sales. There is no “build it and they will come” scenario that works in the real world of business.
A lot of business owners think that marketing and advertising is an expense. They see it in the same terms as paying taxes. However, when it comes to your business, marketing and advertising is really an investment. Essentially, any expenditure that can bring in more money than spent is considered an investment. Here are 10 unique ways you can promote your products and services.
Contests are a great way to increase brand awareness, create buzz about your products and services and boost engagement and sales.
Hosting a contest is a very effective marketing strategy that has been around long before the internet. It’s been around a long time because it works. It helps bring in buyers, causes a buzz and spreads brand awareness.
It’s no different when you create an online contest. They’re a great way to engage with your audience, and add readership to your website content and people love them!
A good contest can pay off for years to come due to the publicity that occurs long after it’s over.
Search engine optimization (SEO) is the best way to get your website seen on search engines like Google and Bing. If people can’t find you, they won’t know how much your business has to offer them. If you think about it, if you don’t use updated SEO practices and work to provide the best experience to your audience that you can, they’re going to miss out. Then you’ll miss out.
You can do a lot right now to make your SEO better, and some of it quickly. These 17 tips will make a huge difference in how SEO is working for you to get more traffic, convert more customers and generate more income.
You’ve probably heard a lot about how a membership website can provide your business with a recurring and stable income online (and remember, membership works offline too). You basically create a subscription website where the public is blocked from your content. It’s only available only members who pay a fee to access the membership area.
But getting people to join your membership is only half the battle. Getting them to stay is the other half. The key to member retention is to under promise and over deliver. Creating a subscription website, no matter how lucrative some might be, isn’t for everyone. Do you sometimes wonder if starting a membership website is right for your business?
Let’s look at some factors that can help you decide.
Quality Clients Come From Good Business Relationships
As a business owner, you’re automatically in sales – regardless of what type of business you are in. But many people think of sales as something that’s uncomfortable and even underhand.
There are numerous derogatory jokes about the so-called “used-car salesman”. We often get mad with sales people who ring our doorbells, we hang up on sales calls, and we even block ads on our internet browsers.
Because of this, the message is loud and clear. Sales people are bad. Sales people have sold their soul and don’t know how to build good business relationships. But have they?
Get Ready To Generate More Leads From Your Website
One way to make more money for your business is to generate more leads. To get more leads, you’ll direct your target audience to a specific landing page that has a specific offer. And more often than not, you’ll be using paid advertising to buy website leads.
But if you think about it, your website home page is a landing page for people who happen to find your website via search engines, referrals, social media or offline sources. And you should treat it just like any other landing page. You don’t want to leave them in the dark on figuring out what to do.
You wouldn’t do that if you created a landing page for a specific product, service, or lead magnet, right? So, don’t do that on your website home page. Treat it like any other landing page. Here’s how you can generate more leads from your website home page.
When you sit down to make goals in your business, it’s important to not only make short-term goals but also long-term goals. You need to know the overarching goals for your business. Where do you see your business in 5 years time?
Are you and your business prepared for the change that is going to come whether you like it or not? By design, you can prepare for these changes and ensure that your business grows in the next 5 years.
When you’re trying to decide on the best online business to start, there are many things to take into consideration. Your business should be something you will enjoy doing, that you’re good at doing, and that is in demand.
If you don’t have those three things, you may give up before you start making money because starting an online business isn’t guaranteed overnight money. It takes time, just like any other business startup.
Here are some questions to think about. Your answers will help you decide.
Passive income is a form of income that you can earn without having to work and work for it. Rather than continuously working in order to keep the income stream consistent, when you generate passive income, you do the work once and then earn money from that work without having to do anything else.
However, some people are a little dubious when it comes to passive income, and question whether it really exists. It’s easy not to have much trust in passive income when you don’t know of the ways it can be generated.