There are really only a few different ways you can make more money with your business. These ways include:
* Getting more traffic.
* Boosting your conversion rates.
* Raising your prices so you make more on every sale.
* Selling more products to your existing customers so you make more money from every customer.
Your business plan should include a strategy for tackling each of these points. For this article, however, I want to focus on that last one: selling more products on the backend. And you know what? One of the easiest sales you’ll ever make is to sell something else to an existing customer.
Here’s how to do it…
Offer a Related Product on The Order Form
One really good way to increase your profit per transaction is to offer an upsell, cross-sell or even a one-time offer on the order form. This should be a product that is directly related to the main product. For example, you can offer:
* The transcripts to a video series for an extra fee.
* Personal coaching to go with a home-study course.
* An app that relates to the main product.
* Access to a related membership site.
The customer is already sitting there with their credit card in hand and they’ve made the decision to buy. So all you have to do is persuade them to spend a few extra dollars on a related offer.
Make An Offer On the Thank-You Page
No matter what you’re selling, your customers will be directed to a confirmation or thank-you page. Here they’ll either download their order, or they’ll learn more about the next step of the delivery process. Either way, this is a good place to promote a related offer.
Let’s suppose you just sold the customer a weight-loss training program, which they can download on the thank-you page. This page would include a link to the download, as well as something like this:
“Now that you have a complete nutrition and exercise plan to finally lose the weight, you just need one more thing: support from others who’re doing the same thing. Without the right support, you’ll lose motivation and gain the weight back.
Don’t let that happen. Get all the support you need by clicking here…”
Note: one good recommendation is all you need on your thank-you page. You don’t want your new customer to lose focus, nor do you want this page to look like a circus of advertisements.
Insert Offers Into Products
If you’re selling digital products like ebooks, videos or software, then it’s really easy for you to drop a link and a call to action within the product itself.
TIP: If you’re selling physical products, then you can also drop a flyer into the shipment itself. For best results, include a discount coupon with an expiration date.
Follow Up Via Email
One of the best ways to create repeat purchases is through your customer mailing list. That’s because you can tuck an offer into every email, and you can follow up repeatedly.
TIP: Segment your customer list according to what the customer purchased. That way, you can make offers that connect directly with their wants and needs.
For example, you can email everyone who purchased your home study course and offer your personal coaching services.
This simple tips increases your conversions and lowers unsubscribe rates. It also keeps you from emailing people about an offer they’ve already purchased.
If you’re not asking for a bigger sale or asking for repeat sales from customers, then you’re leaving a lot of money on the table. The most profitable and successful companies use this strategy to make more money. If it’s good enough for Apple, Amazon and McDonalds, then it’s good for your business too.
So put these backend strategies to work for you today – you could be making more money on the very next customer who walks through your virtual door!