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How to increase your profits by 40% or more with no extra work!Copyright 2004 Richard GradyBefore I expand on the above heading, I do have a slight confession to make - you will have to do 'some' work for this process to work but I promise it really isn't much and the long-term benefits can be absolutely incredible :-) The process that I want to discuss in this article is 'upselling'. Upselling may be a method of marketing that you already use in your own online business but if not, I am sure you are familiar with the process..... Let me give you a couple of 'real world' examples of the upselling technique: 1. You visit your favourite burger joint (McD's, Burger King, wherever, they all use upselling). You order a burger and you are asked, 'Do you want fries with that?' Assuming you say 'yes', the next question is, 'Large?' A high percentage of people will go for this option because for some reason it is easier to say 'yes' than 'no'. You will probably then be asked if you want a drink and again, if you want it large. 2. If burgers are not your thing, how about a visit to your local bookstore? How many times do you see the piles of 'three for two' books? Of course you can buy just one book but if you find another two that you like, you get one free so that's surely a better deal right? Both of these are examples of upselling and as you will have worked out, upselling is quite simply a marketing method used to persuade your customers to spend more money than they had originally intended. However, there is more to it than just forcing a few extra dollars/pounds out of your customer's pocket. You see, for upselling to work properly, there has to be something in the deal for both parties. This means that the customer has to benefit too. Indeed, the upsell has to be attractive to the customer in order for them to even accept it. To take the book example above, it is no good offering a pile of 'three for two' books if there is only one title that is popular or a new release - they all need to be good titles that people will want, otherwise the customers will just buy the book that they were originally interested in. So how does upselling transfer to your Internet business? Usually it is as easy as adding an additional 'upsell page' in between your normal ordering page and your payment page. This is especially easy with eBooks and other digital products but there is no reason why it cannot be applied to any product being sold online. I personally use upselling on most of my websites and in a number of different ways so it is probably as easy to look at how I use upselling as this will help you to begin to apply the technique to your own website business. I use upsells on my eBook sales by directing the customer to an upsell page after they have decided to purchase one of my products. A typical upsell will be to offer the customer the chance to purchase both the eBook that they are interested in plus one or more associated eBooks for a heavily discounted price. I ensure that the discount is considerable as this makes the deal far more attractive for the customer but involves me in no extra work if they decide to go ahead with the upsell. With my membership sites, the upsell is slightly different and subscribers are offered the chance to make a large saving if they opt to pay for an annual subscription rather than month by month. Again, a great deal for the buyer but no extra work for me. Upselling is an extremely simple concept yet incredibly effective. On average, 40% of my customers opt for the upsell if it is offered and I have seen situations where as many as 70% of buyers upgrade to the upsell offer. Remember, the key to successful upselling is to give the customer a superb deal - it isn't all about forcing that extra bit of cash out of the buyer's wallet. If you don't offer great value and quality products, your customer will end up requesting a refund. But if you DO offer them a bargain then you will have a happy customer that will buy from you again and again. To put a cash value on the power of upselling, just consider the following comparison for a moment..... You offer a product for $20 and 100 people buy it. Your income is $2000. You offer a product for $20 and again, 100 people buy it but this time buyers are offered an upsell which costs $40. 40% of buyers opt for the upsell offer. Your income is now $2800 - a 40% increase! How much extra work would be involved in handling the second scenario above? None really. If you are selling a digital product then there is no extra work but even if you are selling a tangible product, you are shipping to the customer anyway so how much additional effort is required to put the upsell product in the same package? Powerful stuff and if you are not using upsells already, you really should be. About the author: Richard Grady has been helping ordinary people earn online since 1998. He writes a free newsletter which is published every two weeks. To subscribe (and claim your free gifts), visit: http://www.thetraderonline.com/newsletter.html Circulated by Article Emporium Can You Really Make Money Selling New Release CD's & DVD's On eBay? Being an active eBayer, I am often being asked about products to sell. A common question is "Where can I purchase products such as new release CD's DVD's and Video Games for Playstation and X box at a 75% to 100% discount. Well folks, this sort of discount on this type of merchand... Create A Powerful Vision Copyright 2005 Alicia Forest In the Client Abundance coaching programs, we work on implementing several strategies that are designed to PULL your business forward, almost effortlessly. One of those strategies is creating a powerful vision for your business. My private client... When is 'Spying on Your Competition' a Complete Waste of Time? Copyright 2005 Ron Hutton Your brain screams "Gimme Fast", "Gimme Easy", "Do it for me automatically"! So when you see the headline that reads... "Imagine Spying On Your Competition To Build A Massive Targeted Keyword List Of 3000 Or More Keywords On Auto-Pilot..... How to increase your profits by 40% or more with no extra work! Copyright 2004 Richard Grady Before I expand on the above heading, I do have a slight confession to make - you will have to do 'some' work for this process to work but I promise it really isn't much and the long-term benefits can be absolutely incredible :-) The pro... How to publish your own highly demand ezine Ezine is an electronic newsletter that is published through internet. As a home based business owner, it is important for you to have your own ezine. You might ask 'Why do I need an ezine?' There are many reasons why you need it. But the main reason is that your o... 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It provides a quick, easy way of communicating not only with other pe... Keywords, How to find them Effectively To be a successful affiliate marketer takes a ton of work. You probably know this by now. Really! I hear some of you say. You thought it was a piece of cake, mostly because you don't have to worry about having your own product. Ok, so no product costs, no shipping... The MOST TRAGIC Mistake a New Marketer Almost ALWAYS Makes Copyright 2005 Richard Meredith So... you're a new marketer, and you want to make extra money or even perhaps a great living! One of the first things you do is join an affiliate program or downline club of some sort. Or maybe even you are trying your hand at Ebay or anothe... Common Work At Home Success Characteristics Do people that are successful in home based businesses share some common characteristics and, if so, what are the primary ones? The dictionary defines successful as: *having a favorable outcome, or *having obtained something desired or intended, ... Online Cell Phone Scams and Spam They're out there. Individuals trying to make a quick buck at your expense. You labour hours on end to produce quality content on your website only to get repetitive requests for huge numbers of product or promises for the greatest deals online. As a webmaster for a cell phone and ... UNDERSTANDING MLM MATRIX PLANS Copyright 2005 Judy Thompson If you are already involved in, or are contemplating a business using network marketing or multi-level marketing (MLM) as your marketing strategy, the better you understand it, the wiser and more successful you will be. Network marketing c... Home Based Businesses Have Their Share Of Frustrations The source of frustration addressed in his article may be all too familiar if you happen to work at an Internet-based home business which relies on personal relationships and/or teamwork. I am often contacted by members of my business team with a tale of woe ... Forums... What They Are And WHY They're Essential For Anyone 'Considering' An Online Business. Copyright 2005 The IWE, LLC Well... first off, let's define exactly what a Forum is so that you'll be able to relate to what I'm about to explain within this article. The simple definition of a Forum is... it's a online community with a open discussion that allows y...
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