| |
| |
|
Marketing Information |
|
Are You Overlooking Your Hidden Profit Centers?
There are other names given to "Back-End Selling". You may think of it as follow through, or maybe VALUE added. Both are good terms. Let's take a quick look and see just how you can profit from this idea. For our purpose today, let's just key in on the benefits of "Back-End Selling". "Back-End Selling" is simply the SELLING you do AFTER the first sale. Your profits come primarily from repeat business rather than from the initial (first order) sale of your product or service. Your greatest COST (accumulated expenses) is in the FIRST sale. This is certainly true in most cases. How long did you have to work before that first sale? Did it take you ten minutes or ten years? All the time this customer was NOT buying from you there was still the overhead to shell out. Obviously, some high-ticket items can absorb the cost and still be profitable. You only need the one sale from a customer. However, we could probably agree that most items that we sell or buy are of a more moderate dollar value. Meaning the profit return comes from the repeat customer. Have you ever known a razor company to give away the razor? Why? The profit is in the blades! It's happening today on the Internet. Computers are getting cheaper and cheaper. Even free when you sign up for a service. Sometimes a company will giveaway or "loan" a machine to a customer because the profit is in the supplies. This is known as "back-end" selling. You have the challenge to find your "back-end"! How can you make more sales to the same customer? Sell more of the same product? Service? Can you offer an add-on? Related items? It can even be something entirely different. Put another way, just keep selling "something" to the same customer. Your best source of new or continuing revenue. Many firms stop with the one (1st) sale and never realize the added profits they are leaving behind. YOU would never let this happen. On the other hand, maybe it would just be a good exercise for all of us, to ASK yourself, am I selling everything I possibly can to ALL of my current customers? Hits hard, doesn't it? Think about it! You have been successful in making that first sale. Why? Our basic assumption is that you have earned their confidence. Trust. You have lived up to your promises. Your product or service has met or exceeded their expectation. It's only natural to believe that you will live up to this same level of competence in the future. Search for your "USP" (Unique Selling Proposition). What is it that makes YOUR firm stand out from the pack? Are you REALLY any different? Do you offer something special that only YOU can provide? This is what separates the great businesses from the also ran. You have to be unique. Different! A visionary. Added VALUE is every customer's expectation today. Your next challenge is to find as many "back-end" products/services as you can. There is no better customer than one who has already done business with you. YOUR greatest business asset is your customer; without him/her there is no business. Secret Online Up-Sell Technique: If you are operating an online business, you may want to simply add (embed) an "up-sell" product right inside your "Thank You" page. Let's face it, your new customer has just made a purchase from you and you can rest assured that they do in fact understand the value of this freshly purchased product and/or service. Furthermore, trust in you by your new client has been realized. Capitalize! "Why not get it while it's hot?" Over time, check the added increase to your bottom-line. Chances are, you will undeniably discover a significant positive difference. This Week's Key Point: Treat your customer like "Gold"! Look for new products to compliment your initial sale. Separate yourself from the plain and ordinary. Be a crucial source of information. Make suggestions. Offer unlimited assistance. Work hard at keeping every customer happy. After all, they are your most valuable business asset. PERIOD! Happy Marketing! About Tony Marino, Ph.D., Marketing Dr. Tony Marino is not only the CEO of America Web Works (http://www.AmericaWebWorks.com), he is also the Founder of the http://www.AudioVideoStreams.com, the International ePublisher's Association, Christian Times eBusiness Newsletter and the author of the ePublishing Master's Course at: http://www.ePublisherUniversity.com. Additionally, he holds Email Compliance Officer status for many of today's leading Network Marketing companies. He has also worked with the likes of legendary Direct Marketers Ted Nicholas and Gary Halbert. Best-Selling Authors, Harvey McKay, Jack Canfield and Mark Victor Hansen. ABC Television's, Jimmie Kimmel and NBC's, Carson Daily. Online Marketers, Dale Calvert and Jay Abraham just to name a few. His offices are location in Portland and Los Angeles and he'd love to hear from you anytime! http://www.AmericaWebWorks.com 866-824-9684
MORE RESOURCES: Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting |
|
|
|
RELATED ARTICLES
Eight Advantages of Fundraising Letters Over Other Methods 1. PersonalFundraising letters are about as personal as you can get with a donor without meeting face to face or talking on the phone. How to Add Warmth, Color & Texture to Your Advertisements "?A powerful agent is the right word?" --Mark TwainAnd what true words those are! Your marketing efforts have the ability to succeed?or to fail?based on the words you choose to represent your products, services, and yourself in your ads.You have the ability to choose any words you desire. Wooing Women With Packaging In just one month three California vineyards have introduced new wine product lines specifically targeted to women. The product offerings are intriguing with names such as "White Lie" and "Mad Housewife" to the latest introduction "Working Girl White. The Secret to Good Writing Skilful business writing involves getting your message across simply and quickly. This often means writing in a style that is easily read and understood by a broad audience. The Value of a Customer The Driver of All Marketing EffortsYou need to determine what the value of a customer is to your company. Answer the following questions:How much will the average customer spend with you per year?A = _____________If you provide quality service and products, how many years can you expect to keep a customer ?B = _____________What is your gross profit, as a percentage of revenues?C = _____________The value (V) of a customer is:V = A X B X CWe learned with our network consulting company that the average life of a customer was about 2 ½ years and the average yearly expenditure was around $10,000. 30-Minute Marketing Marketing your small business takes tons of time, years of experience, and lots of money, right? WRONG! Anyone can learn effective marketing techniques that are simple, inexpensive, and best of all, quick! This summer, get in the habit of regularly marketing your biz! The following are some marketing techniques that you can accomplish in 30 minutes or less. Pick a few that appeal to your style. Why Pay for Online Press Release Distribution? We've all heard that "free advice is worth what you pay forit.. Quick and Instant Marketing Soup Everything happens Quickly and Instantly on the Internet. In the blink of an eye your easily transported around a whole planet. Top 10 Dos and Donts for an Effective Business Referral Network! Every business - particularly small, entrepreneurial or professional businesses - must have a powerful referral network. It is very unlikely (and terribly expensive) to "advertise your way to success". The Secrets of? A lot of advertising and mailings promise to reveal the secrets of something. Most of this kind of mailings deal with search engine optimization. Build A Successful Business By Staying Connected Over the course of your business life you'll come in contact with a number of other business people. They could be lawyers, business services, suppliers, customers, etc. Small Business Marketing Tip - Putting the Customer First. I am a great believer in the keeping to the basics - the totally obvious things that we all learn in Running Your Business 101, and then promptly forget. I often have people come up to me after a speech and say, "This is all blindingly obvious, just common sense. Tackle a Newsletter and Come Out On Top Unlike any other marketing vehicle, newsletters give you the opportunity to contact your audience and convey your expertise in a way that offers value and information. Newsletters provide a reason -- and a structure -- to maintain ongoing contact. One-Two-Three Punch Marketing Printed material is just as important today as it was before the Internet. With sp*a*m getting out of hand, it's a wise choice to rev up, update or create printed material, ads, catalogs, direct mail, press releases, letters, templates and the like. Are You Sabotaging Your Marketing Success? What?!? Sabotage your own success? Who would do that? Well, you'd be surprised how many small business owners think they are effectively marketing their business, when in fact they are cutting their own throat.Yes, they may be running ads that are pulling in leads or customers. Why Smart People Dont Know How to Market As an educated professional, your success is based on what you know, your education, your intelligence, and your creativity. Even if you're just starting out, you've achieved success just to get your many degrees and pass those licensing exams! Your clients return and refer because you apply your expertise and insight to guide them to appropriate answers for their unique situations. Baby Boomers - Marketing to the Me Generation Unless you've been in a dimly lit cavern for the past several decades, you know that "Baby Boomers" is the collective name given to the 76 million people born in the United States between the end of World War II and 1964. Often described as the largest, most knowledgeable and most fiscally influential demographic group in American history, their motto could very well be: Where does a 750-pound gorilla sit? Anywhere it wants!Getting to Know ThemDubbed the "Me Generation" for their nonstop quest for self-gratification, many "Boomers" pride themselves on their counterculture values, for having led movements for social rights and environmental awareness. Postcards Work What's the fastest, simplest and cheapest way to promote just about any business?The answer is postcards sent by direct mail. You can get your message to a targeted group of prospects or to your existing customers for a cost of about 25 to 30 cents each including postage. Trapped in Your Comfort Zone? Break Out and Send Your Marketing Skyrocketing A marketer whose advice I generally respect recently published an article about how to find your comfort zone and stick to it in your business in order to create a more harmonious work environment.In theory, it makes sense. Smart Ways To Rocket Launch Your Profits If you really want to pull more profits from your business, you really need take some of the actions listed here. 1.
|
| home | site map | contact us |