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Showing posts from June, 2024

How to Increase Your Profits by Offering A Range of Different Upsells

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Looking for a way to capitalize on the value each customer is worth to you? An easy way to do this is by offering different upsells. Upselling is offering a complimentary or upgraded version of a product/service that a customer is currently purchasing. One of the most well known upsells can be heard when you head into your local fast food joint: “Would you like fries with that?” Even not so great upsells can add a quick 33% or more to your revenue stream.  Some really good upsells or funnels can even double your initial sales or more! An upsell is a great way to increase the total value of a sale. For example, if you run a dance school, and each class is $15, you could provide a number of upsells. You could offer 3 different upsells, of varying amounts: Upsell 1 - 4 week course for $50 Upsell 2 - Gold Membership where for $120 a month you can attend as many classes as you like. Upsell 3 - Pro dance package for $200 a month, which allows you to attend unlimite...

How To Create A Better Funnel For Your Business?

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Every entrepreneur is well familiar with the importance of marketing in today’s era of extreme competition. Marketing through various channels has become essential to make sure a business is able to thrive in the market. Without a proper marketing strategy, a company will not be able to gain new customers and expand their reach. Are you looking for tips and techniques to create better sales funnel for your business? If so, you are in the right place. What Is A Sales Funnel? A sales funnel is a marketing concept that provides a schematic of the process through which a customer goes through while making a purchase. The term ‘funnel’ is used as an analogy because most of the people who know about a business are its potential customers and represent the top, most significant part of the funnel. This might also be described as your “warm market” and may include those who are on the fence about your brand, or barely even giving it a thought. These people are on top. The people w...

How Offering A Premium Support Service Can Increase Your Profits And Margins

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You’ve probably bought electronics before and been offered the purchase an additional warranty. Or maybe you’ve purchased furniture before and been offered a white glove service to deliver and setup your new couch. These are all examples of premium support services that can have very large profit margins, so even if only a smaller percentage of customers take you up on them, they can add a lot to your bottom line. Some of these premium support services can be at little to no cost to you. For instance, one business we’ve seen had a warranty offer where you could get free replacement charger cables forever on your phone, if they ever fail, for a small one time extra fee as long as you just cover the small shipping and handling fee. However, these cables have such huge margins anyway that the small S&H fee literally covered the cost of the cables and the shipping. The “warranty” that was sold was essentially 100% pure profit, despite how it would appear to be an ...

How Going For The "Big Fish" Deals Can Increase Your Business

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Too often business owners try to fight over the scraps. They try to make deals or land sales with anyone and everyone that they can find, regardless of if those deals are barely worth any money to them. It’s amazing what can happen when you try to go for the bigger clients or choose bigger businesses to partner with. Just a single deal can often make for a very good month (or even year!). There’s two main ways of doing this. First, you can target more high-end prospects with higher end offerings. By raising your prices and offering more “done for you” services and products, you can try to target the elite buyers instead of focusing on being the low-priced leader barely scraping by. The second way is to try to focus on big “competitors,” or on other business owners who are far bigger than you in a similar market, but not necessarily competing, and then trying to strike a deal with them to sell or promote your offers (for a big cut). If you make this hands-free, sup...

How to Build a List by Solving People’s Problems

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So you’re looking to build a list? This strategy is a great way to build a list of people that are interested in your niche. First, find relevant Facebook groups in your niche, join them, and take the time to see what people are complaining about. What are the common complaints that keep coming up again and again? What product or service could you come up with to provide a solution to these complaints? Once you’ve come up with a solution, sell it or give it away for free to build a list or following. For example, if you run a wedding planning business, join Facebook groups in that niche and see what the common complaints among brides-to-be are. Perhaps they find that it’s very overwhelming, trying to remember everything to organize and knowing when to do what. You could create a timeline checklist, of what to organize when in the countdown to the big day, and offer it free to build a list of potential clients. So join Facebook groups within your niche and see what the most common...

How Listening to Your Clients Wants and Needs Can Help You Land More Sales

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Business owners often do more talking than listening. When it comes to making sales, often it’s best to do more listening than talking. Instead of overthinking and brainstorming what your prospects might want, why not just ask them? You’d probably be surprised at how easy it can be to sell them what they’re already telling you they most want/need. For example, if you’re selling a variety of online marketing or web services, instead of trying to force them to buy a particular SEO package to help rank their site, why not ask them what they think their biggest issues are right now with their business? You might find that they really don’t care much about their ranking but might instead be focused on their social media, e-mail list management, or some other service that you could easily do for them. Once someone tells you what their issues are, ask them what they think that would do for their business if those issues were solved, and then ask them how much more they t...

How To Use Social Media Effectively

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According to a survey conducted in the United States a stunning 90% of businesses were active in some way on social media in 2017. Facebook alone, has close to 1 billion users, equal to the total population of India, all over the globe. The world has progressed to the point where everyone wants everything right at their fingertips. They want what they want constantly and they want what they want NOW. That is the number one rule of social media. If it's used effectively the rewards are great. You want a social media page that • Is active • Has a large, engaged, and growing following • Speaks to a large, relevant audience that translates into business conversions. Using social media in a way that accomplishes these things can be tricky, but it also can be done. Consider some of the following guidelines: 1: Headlines Matter: You may have heard this famous proverb “don’t judge a book by its cover” but let's be honest with ourselves. We are visual creatures w...

How to Add Value to Your Customers and Make Money Doing It

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To take advantage of this marketing strategy, look at how you can bundle your service or products together to create a package deal. This can be a great way to move more products and services and add value to your customers. Customers feel they are getting a great deal, as they are paying less than if they bought each item separately, and you get the benefit of a higher dollar sale per transaction. Bundling can also help you move slow-moving products and give you an upsell to offer to customers that may have been looking at purchasing an individual item. For example, if you own a travel agency, offer a package deal where accommodation, flights, several meals and an attraction are all included. For another example, if you own a beauty salon, offer a pampering package, where a hair styling, manicure and massage are offered together. While a customer may have been considering purchasing one or two of these items, if you offer a great deal, they might be persuaded to purchase th...

How Taking Action Can Get You Leads

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Instead of waiting for leads to come to you, go to them! Many people just build an opt-in page or a squeeze page and wait for leads to sign-up or reach out to them - so instead of waiting for people to find your store and buy from you - actively go out and find prospects. Look for questions that are being asked, which are relevant to what your business provides, on forums, Q&A sites (like Yahoo Answers or Quora) and social media such as Facebook and Twitter. Now take a couple of minutes to answer those questions, making sure you provide value first and foremost. This will help you gain extra exposure for your business, help build you up as an authority in your niche, start to build trust between you and possible customers and potentially land you some sales. For example, if you have an SEO service, look for questions on the best ways to optimize websites. Then you could leave an answer such as, “Here are 3 tips I find work well…(insert your tips h...

How Contests Can Be A Great Source of New Targeted Leads

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Contests can be a great way to grab more leads or prospects, get feedback or testimonials from existing customers, encourage participation or attendance on webinars, and more. And, it’s not like you have to give away a car or something crazy expensive. In fact, often times cheaper giveaways will help increase your conversions even more (perhaps because they think they’ll have a better chance of winning?). For instance, you can run an ad where you’re advertising a contest for a free drone that you’re selling. Anyone who enters you know is probably a potential prospect, as they’re interested in the drone that you sell. When you do that, you can immediately advertise a special deal you have on them in case they don’t win (and offer to refund if they do) and want to get it right away. The benefit here is that you can get dirt cheap clicks and leads when advertising this way (on places like Facebook), all while building up a very targeted list (we’ve built up some big mailing lis...

How to Market Your Business

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Businesses of any kind can be quite challenging. There is a lot of saturation and variation in different industrial sectors. It all requires careful research and cautiously formulated strategies. To ensure the success of your business, it is necessary to make your brand stand out from competitors through effective promotion strategies. Here are the crucial steps in marketing your new business: Conduct market research Market research is a crucial component in establishing a marketing strategy for a new business. It includes collecting data about the market in which you are going to establish your business. The data is thoroughly analyzed to determine the needs and requirements of potential customers, prime locations for the business, and the estimation of the budget and pricing of the products and services. Moreover, market research can also include sales predictions, monitoring latest market trends, and studying the business models of your competition to make sure you ad...

How To Make Money Using Social Media

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It takes a while to understand that social media sites are developed for more than just entertainment and de-escalation of boredom. You can make money through social media without selling anything. These platforms are, believe it or not, perfectly designed to be used as money-making machines. It may take you a little time and a lot of effort to get recognized by other social media users. You'll need to build an image and audience on social media. You'll need to build an audience and engage in an effective social media content strategy. Over time, as your audience grows and you accumulate more and followers a number of new income opportunities may open up to you, and you'll never have to create a store or start your own business if you don't want to. Once you have a substantial audience, here are some ways you can make money with your popular social media account: 1: Brand Promotion: Some of the most effective marketing is done through ads and promotions online, ...

How Outsourcing An Offer That You Sell Can Make More Money For Your Business

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There’s only so much time in the day, and although it can be a great idea to add extra services that you sell and fulfill yourself, it’s not always practical. This is why it can be a great idea to look for other services or offers that you can sell yourself but easily outsource to others to do with little to no work on your part. For instance, you might be a web designer that often gets requests to create and add videos to your clients’ sites, but it might either be very time consuming or nearly impossible for you to create nice looking videos to sell as a service even if you could get hundreds to thousands of dollars per sale for them. Instead of just passing on that easy money, why not look for others online who already offer those services, reach out to them, markup their prices (or make them more “done for you” to increase the value and prices you can charge) and get permission to use their testimonials, social proof, examples, sales pages, etc. as your own (o...

Using Trust To Build Your Business: What You Need To Know To Use Referrals To Your Advantage

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Have you ever tried a product or service based on the word of a friend, colleague or family member? Many of us have, because we trust that person and are more likely to take their recommendation over someone we don’t know. This is the power of referrals. Ask your current customers if they have friends, family, or people they know that they think would love your service, then contact those people on behalf of them, offering your services/products. This is a great way to get access to potential new customers, while also having a warm introduction – you’re not cold-calling (or emailing!) them, as you’re essentially being introduced by their trusted friend/family member (your current client). For example, say you have an ecommerce business where you sell natural beauty products. You could email out to your customers, asking them if they know anyone that would love your products as much as they do.  If so, ask them to pass on the email address of those people and explain you’ll n...

How To Position Your Offer To Increase Sales

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In many cases it can be a wise idea to offer multiple similar packages when selling something. However, instead of offering drastically different offerings, which might make your prospects hesitate more due to not being sure which option to get, you can offer similar options where the “value buy” seems like an amazing deal. For example, let’s say that you’re selling an SEO service to help websites rank better. If your main offer is a done for you package for $997 where you fix up their site and offer some basic consultations for them too, that can normally seem like a lot of money to some people and can make them hesitate more on if they should buy or not. However, you could offer three options where the “basic” package is for $897 and only includes a report where you identify the issues but don’t fix it for them, the “most popular” package is for $997 and includes identifying and fixing all the issues on top of three free consultation calls, and the “elite” package is for $...

Why Businesses Need To Use Social Media?

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In the past few years, social signals have become an essential part of a business' website ranking. These trends have only increased as the use of social media has become highly popular around the world. A well-executed social media marketing strategy can greatly boost your business. Social media is essential for businesses to keep in direct contact with their customers, especially their most loyal ones. Through social media, existing, as well as potential customers for your brand, will have direct access to information about all of the critical updates and additions to your business. For a strong internet presence, you need to make sure that your business's social media accounts are updated frequently and consistently. Engaging and consistent social media content will establish steady interaction with customers and visitors to the page. If you have a business and you are not using social media websites like LinkedIn, Facebook, and Twitter to promote and market your bus...

Five Marketing Tips To Drastically Improve Your Sales

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With the passage of time, consumers have become highly conscious of the marketing strategies being used by businesses all over. Most consumers are able to differentiate between an authentic business and one that is exaggerated and hyped through artificial marketing. As a result, people tend to spend their hard-earned earnings on very particular products and brands. In such a highly competitive business environment, businesses face the difficulty of increasing their sales, or even worse, just to maintain a steady sales income. As a result, the capital of such companies starts dwindling within a few years, and it can lead to the catastrophic failure of their business model. If you want to keep your head above those choppy waters, you need to keep in mind the following five marketing tips. These tips should be adopted by all businesses to drastically improve their sales: 1. Identify The Market And The Problems. Not enough can be said of the great importance in choosing a...

Why Does Everyone Lose Money on Facebook Advertising

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If you haven't tried Facebook ads already and you know a lot of people who have, you probably don't want to. They're uncharted waters, and many before you have failed. At least once or twice, sometimes even from business professionals, you've probably heard plain and simple that Facebook ads don't work. Everyone who tries just loses their money with minimal results. First, let's dispel that myth. Not everyone fails on Facebook marketing. It is a highly effective platform, but only if you succeed in utilizing it's tools properly. 1. They Don't Test Their Audiences Audience testing is going to be the very first step you use to build on your Facebook ad campaign success. The target audience you choose through Facebook will vary based on your industry and business type, and who you're trying to reach with your product. Facebook provides many factors to consider when selecting an audience for your first ad: -Demographics-Based on demographic fac...

How To Sell To Other Businesses

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Business to marketing seems like a foreign language to many people who are trying it for the first time. The consumer markets seems so much plainer and easier, after all, we're dealing with every day people. With businesses we feel we are dealing with some mysterious entity or some divine VIP, a thing whose persona is foreign to everything we knew in the every day human consciousness. The reality that most people miss, and it's a well-kept secret, businesses are people. They are decision makers, executives, highly paid company officers, and even midgrade managers. At the end of the day though, they are people, selling to other businesses is no different than selling to people, except that you have to consider the kind of person you're selling to. Much of this involves trying to get into a person's head. What does a business owner or manager need and/or want? What things will improve their lives, and more importantly, the operations of their business? Answering these...

What Should Be In A Good Blog Post And Why

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It would not be wrong to say that people’s interest in blogging has hit the highest point in recent years. Some people believe that blogs are dying, but more accurate they're evolving. Make no mistake, blogs are here to stay, but they're more competitive than ever. With social media, freelancing, and SEO becoming widely used around the world, the trend of blogging has dramatically increased in recent times. Millions of blogs are being written on a daily basis, but there are some basic tips and techniques which should be implemented in every excellent and engaging blog post you write. Captivating Title and Headline Many writers tend to ignore the fact that a good blog post is always about just one idea. There is no need to add numerous ideas and topics in a single blog post because the primary purpose of a post is to discuss and elaborate on one idea. A good title is the one that captures the readers’ attention at the very first glance and briefly describes the content o...

How to Drive Sales and Traffic to Your Business Using Social Media Influencers

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Did you know that some big influencers out there online can literally drive millions of dollars in sales, with a single post on social media, or mention on a big blog? In fact, there’s even billion-dollar businesses that have gotten their start from single big influencers mentioning their products. And, surprisingly enough, it’s easier to do than you might think. Sure, it might be far harder to do a multi-million dollar launch overnight from a big star mentioning you just to be nice, but there’s plenty of well-known influencers that can still drive a ton of sales your way (and you never know when you might get lucky by landing a bigger one). To increase your chances of this, you should take the time to reach out to these big influencers, blogs, news sites, etc., and offer them your products for free in the hopes that they’d be willing to review them. Sometimes you can even pay these influencers to mention your products. And although some of the biggest ...

How Focusing on the Benefits of Your Offer Can Help Convert Sales

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So how can focusing on the benefits of your offer increase your sales? It’s a marketing technique that encourages customers to focus on the end result that your product will give them, which is a powerful motivator to encourage customers to buy. Your offer will have features (specifications) and benefits (the end result). In your marketing focus on the benefits of your service/product, instead of the features. It’s the benefits that sell your product, not the features. For example, does a person buying an anti-aging cream want to know that it contains the ingredient Q10 or that it visibly reduces wrinkles and makes them look younger? Think about how you can use the benefits your product provides in your marketing - you can still list the features, but link them to the benefit that the feature will give your customer. For example, if you have a business selling a course teaching guitar lessons, you might have three main features that you could translate into benefi...

Why You Need Content For Your Site And Social Media?

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There is no doubt about the fact that unique and attractive content is an essential part of your website and social media profiles. Excellent content, along with a well-thought out social media marketing strategy, will help your website stand out in the crowd and attract more users to your brand. Initially, it may seem a straightforward and smooth process to write content for your website as you have to add a few pages and blog posts to your website. In actuality, the writing process is time-consuming and even exhausting to some people. Your content must be adequately planned and written for your site and social media page. You need to content to draw the right viewers in. The quality of content primarily determines the success of a website. Other factors like design, theme, multimedia, and any others that influence the website play a secondary role. The content on your site should be done with aftermarket research and follow a reliable keyword research plan. Content Is Used...

Make It Easy For Customers To Buy: How Offering Free Trials/Demonstrations Can Boost Your Sales

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Sometimes it’s hard to see the benefit of something we haven’t seen in action or tried first. Offering a free trial period, or a demonstration of your product, can be a great way to alleviate a potential customer’s fears and make them confident the product will work for them. Also, once someone has tried something free they often feel obliged to reciprocate by purchasing from you - it’s the principle of reciprocity in action. For example, if you have a software product, offer a free 30 day trial, so customers can see how it works, use it and see the results they get from it. You’ll get customers who may have sat on the fence or not purchased previously all of a sudden be ready to buy because they can get a chance to experience how great the product can actually be for them. There’s one tip we’ve learned over the years that can greatly increase your retention rate here (or essentially how many stay on past the trial period), and that’s to offer a free trial, but re...

How to create a better Facebook Ad?

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An attractive and engaging Facebook ad is the result of a combination of effective strategies. No advertisement can be declared to be perfect as some ads work better than others due to various reasons. The competition in the Facebook ad market is becoming intense. More and more people are realizing the power of this social media giant and hope to utilize the platform to advertise their products and services. Laser-focused targeting and creativity in Facebook ad creation are some of the essential techniques in creating a great Facebook ad. However, here are some of the other important strategies from which can be adopted to create a better Facebook ad: Target a specific Audience The first step in the creation of an ad is to keep in mind the audience for which you are writing the ad. The audience varies from business to business and the primary purpose of your ad. A tempting thing to do is create a general ad and target millions of people through a single ad. However, thi...