Make Exponential Profits With Backend Sales-Part 3
Make Exponential Profits With Backend Sales-Part 3
You have tried every trick in the book but your ecommerce website is not being as successful as you expected it to be. This might be because you have neglected a whole area of business—backend sales. In today's cut-throat business world, it is important to cash in on backend sales, lest your competition overtake you.
Here are a few reasons why backend sales are so important.
First and foremost, it is far easier to sell a product to an old customer than to convince a new customer. According to marketing estimates, your chances of success are eight times higher when you sell to old customers.
This is primarily because these people have used your products before and know how good it is. They are able to see you as a reliable products and service provider whose products embody some value and usability.
So, to succeed in business, you must care for your old customers. While marketing a new product, it is best to start with these older customers as they are not only more likely to buy your product, but will also be more forthcoming about their complaints and comment about it because they are familiar with your brand, know what it stands for and what expectations to have of it.
Also, giving your older customers some preference helps build trust and opens up lines of communication that you never had access to before. Through this, you are in fact showing your older patrons that you are privileging them, which is bound to rebound on your business in a positive manner.
Offering big rebates to your customers on backend products is also known to be an extremely successful ploy that is often used by internet marketing gurus around the world….and if it’s a model that works online then an offline business can get even better results because it’s not often used!
These discounts give your brand a chance to re-connect with your customers. It also helps revive inactive customers, which is a lot more important than it sounds.
You need to understand early in business the opportunities an inactive customer offers you. These customers, while they might not be buying anything right now, have in fact bought and used and appreciated your product before, and are in fact only a phone call or an email away from resuming their business relationship with you.
If these are not big enough reasons to get you to understand the importance and worth of successful backend marketing, then nothing ever will. Continuity and a fostering of long-term business relationships is an integral part of a successful business venture.
Your business cannot start and end with just one product. You need to keep providing your customers with new solutions and added benefits to keep your business booming.
Backend Marketing Method
When your business is in need of some kind of a push, you mostly resort to the old method of broadening your clientele. This is not an easy task, and more often than not, you cannot tide over your dipping sales. An easy and innovative answer to your problem is the method of backend marketing. This is the trick that most salesmen have mastered, and it involves nothing but a bit of persuasion to make another sale to a customer who has purchased your product.
This is relatively easy for a salesman because once the client has purchased your product he has shown that he believes in your product and has thus invested his money. This also shows that they trust your services and won’t be averse to buying something recommended by you. You do not have to spend time building up their trust in you by proving that your company has excellent credentials.
You could work out this backend marketing strategy by suggesting a product that aids in the performance of the product your customer has already purchased from you. The key to a higher profit is to recommend a product that has better performance than the one just bought, and hence more expensive.
If you have recently kept an eye on Amazon.com, you must have noticed that a statistical account of the products purchased by each customer is maintained.
Suppose you decide to buy a book through Amazon.com, they will display a list of customers who have bought some other book-perhaps indirectly related to the one you chose- while buying the one you are going to purchase for yourself. They suggest you to check out this related book. You might even like the suggestion and go for both the books, even though you set out to buy just one.
Similarly, if you follow this simple yet effective marketing strategy, you could effortlessly bring in the profit you require and make your customers feel that their needs are being efficiently met with. Meanwhile your clientele-base gets strengthened.
You could offer to knock off a small percentage of the sales price in a bid to sell your expensive product. The customers feel that they are making a good bargain and they buy it!
Simply put, this tactic entails nothing more than first selling a reliable product to your client and then suggesting something more expensive yet useful to aid the aforementioned product.
Make Exponential Profits With Backend SalesPart 3 - To learn more about this author, visit Mike Saunders's Website.
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Why Do You Need a Backend Marketing Strategy in Your Business?
You have tried every trick in the book but your ecommerce website is not being as successful as you expected it to be. This might be because you have neglected a whole area of business—backend sales. In today's cut-throat business world, it is important to cash in on backend sales, lest your competition overtake you.
Here are a few reasons why backend sales are so important.
First and foremost, it is far easier to sell a product to an old customer than to convince a new customer. According to marketing estimates, your chances of success are eight times higher when you sell to old customers.
This is primarily because these people have used your products before and know how good it is. They are able to see you as a reliable products and service provider whose products embody some value and usability.
So, to succeed in business, you must care for your old customers. While marketing a new product, it is best to start with these older customers as they are not only more likely to buy your product, but will also be more forthcoming about their complaints and comment about it because they are familiar with your brand, know what it stands for and what expectations to have of it.
Also, giving your older customers some preference helps build trust and opens up lines of communication that you never had access to before. Through this, you are in fact showing your older patrons that you are privileging them, which is bound to rebound on your business in a positive manner.
Offering big rebates to your customers on backend products is also known to be an extremely successful ploy that is often used by internet marketing gurus around the world….and if it’s a model that works online then an offline business can get even better results because it’s not often used!
These discounts give your brand a chance to re-connect with your customers. It also helps revive inactive customers, which is a lot more important than it sounds.
You need to understand early in business the opportunities an inactive customer offers you. These customers, while they might not be buying anything right now, have in fact bought and used and appreciated your product before, and are in fact only a phone call or an email away from resuming their business relationship with you.
If these are not big enough reasons to get you to understand the importance and worth of successful backend marketing, then nothing ever will. Continuity and a fostering of long-term business relationships is an integral part of a successful business venture.
Your business cannot start and end with just one product. You need to keep providing your customers with new solutions and added benefits to keep your business booming.
Backend Marketing Method
When your business is in need of some kind of a push, you mostly resort to the old method of broadening your clientele. This is not an easy task, and more often than not, you cannot tide over your dipping sales. An easy and innovative answer to your problem is the method of backend marketing. This is the trick that most salesmen have mastered, and it involves nothing but a bit of persuasion to make another sale to a customer who has purchased your product.
This is relatively easy for a salesman because once the client has purchased your product he has shown that he believes in your product and has thus invested his money. This also shows that they trust your services and won’t be averse to buying something recommended by you. You do not have to spend time building up their trust in you by proving that your company has excellent credentials.
You could work out this backend marketing strategy by suggesting a product that aids in the performance of the product your customer has already purchased from you. The key to a higher profit is to recommend a product that has better performance than the one just bought, and hence more expensive.
If you have recently kept an eye on Amazon.com, you must have noticed that a statistical account of the products purchased by each customer is maintained.
Suppose you decide to buy a book through Amazon.com, they will display a list of customers who have bought some other book-perhaps indirectly related to the one you chose- while buying the one you are going to purchase for yourself. They suggest you to check out this related book. You might even like the suggestion and go for both the books, even though you set out to buy just one.
Similarly, if you follow this simple yet effective marketing strategy, you could effortlessly bring in the profit you require and make your customers feel that their needs are being efficiently met with. Meanwhile your clientele-base gets strengthened.
You could offer to knock off a small percentage of the sales price in a bid to sell your expensive product. The customers feel that they are making a good bargain and they buy it!
Simply put, this tactic entails nothing more than first selling a reliable product to your client and then suggesting something more expensive yet useful to aid the aforementioned product.
Make Exponential Profits With Backend SalesPart 3 - To learn more about this author, visit Mike Saunders's Website.
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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