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 Attract Local Customers To Your Online Store
Even if you have an online store, don’t underestimate the results you can get when you attract local customers to buy from you too. Since your business home is local, many people who want to shop online will shop with your store because they feel as if they’re still shopping locally with small businesses. And they are, even though they don’t have to leave their house.
Never underestimate the power of focusing your marketing locally. Your area may have 25,000 or more people who will be excited to order from you as a local business.
An effective email marketing sales funnel can put your business on autopilot. You can consistently turn prospects into paying customers – if you structure your emails the right way. It’s called a funnel because your audience enter into it at the top when they give you their email address in exchange for your opt-in offer and then work their way deeper into it, getting more targeted offers along the way.
When crafting an email marketing sales funnel that will work well, there are four key elements to pay attention to.
You’re working hard to get people to visit your website but the key to online business success is to convert your website traffic into customers. It’s a hard fact to swallow but almost no one will buy from you on their first visit to your website.
There is where the ‘Rule of 7’ applies. In marketing circles, research states that you need to interact with someone 7 times before they purchase a product or service. This is because that person is trying to get to know you. They want to figure out if, in their minds, your products or services bring value to their life.
So once that person lands onto your website, how do you convert your website traffic into customers using the ‘Rule of 7’?
It might seem like an obvious statement but sometimes businesses forget the fact that the only way to make money is to get customers to buy. A sales funnel process is set of steps where you move a prospect through a series of communications that results in them buying from you.
But what happens after that first sale is made? Are you now finished with that customer and do move onto the next prospect?
To understand the concept of an online marketing funnel, think about a regular, everyday funnel. The idea of a funnel is that you can focus a large quantity of something down into a very narrow flow. That’s why funnels are wide at the opening and extremely narrow, sometimes even pointed, at the bottom.
This upside down pyramid shape also works extremely well online for building your business. Let’s look at how an online marketing funnel works and why your business needs one.
There are certain affiliate marketing techniques and strategies that savvy online entrepreneurs use to boost the income that they earn from the internet.
So what is affiliate marketing? In a nutshell, it is the process of selling other peoples products and services online. When you make a sale, the product owner pays you a commission.
It sounds pretty straightforward. But how do you find the products, where are the customers and how do you motivate them to buy? Here are 6 top affiliate marketing techniques used by successful online entrepreneurs.
Why Email List Building Is Important For Your Online Business
If you’re serious about building an online business or making money online, you need to get serious about list building. Anyone who has been involved with an online business, for even a short time, will know that the everybody says that “the money is in the list”.
And this is true.
Having your own email list building of prospective and buying customers is key to the success of your online business. The vast majority of people who succeed online long-term have email list building strategies.
The primary reason for list building is to make money by selling things. That might be through affiliate marketing or by selling your own products or services. But having a big list of customers and continually bombarding them with offers or promotions will get you nowhere. You need to build a relationship with the people on your list. They need to like you before they can trust you. And they need to trust you before they will buy from you. Let’s look at 6 steps for successful email list building.