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of
How to use your current customers to skyrocket profits:
Your current client base is a gold-mine. Statistics show that 28-42% of the people who
have bought something from you will buy again if you have something similar to offer.
Think of the potential here. This is where a lot of your income can come from.
Lets say you have 500 customers that bought something from you for $50. You send all of them an
email (costs you nothing) and sell 200 of them another $50 worth of your product (or a
back-end/similar product). That's $10,000 in sales that you would have never seen. Some
people even lose money on their first product with the intent to sell them on a back-end
(a back-end is a product that you intend to sell your customers after they have bought
your first offering/product). Many marketers (including myself) believe this is where all
the
real
big money is made.
For example. A marketing guru by the name of Jay Abraham (he charges $3000 for this
consultation fee PER HOUR!) instructed one of his clients to offer a rare coin collection
to new customers for $19.00. He was actually losing a couple of dollars on every sale. Of
the 50,000 people who bought the coin collection at $19, nearly 10,000 came back and
bought a back-end coin collection for $1000 or more. That one back-end made $2 million.
And that was only the first step. Every three months he mails the 10,000 people that
bought $1000 or more and gets almost 1500 of them to spend an average of $5000.... That's
another $1 million plus in sales!
Do you see how important back-ends are now? If you are selling a product, you MUST
develop a backend if you don't have one now. If you can't come up with anything related to
your original product to sell in the future, then split you current product up some how.
For example, if you were selling a book on finding your blood relatives through computer
databases, you could offer a basic version for $9.95 and then 30 days later offer them a
advanced version for $29.95.
Also, it is proven that you should keep in contact with your customers every 21 days
for maximum sales. This has been proven time and time again by gurus such as Jay Abraham,
Ted Nicholas, and Gary Halbert. These are the kind of marketing consultants that charge
$15,000 up front just to write a salesletter for you,
and
then they get
5% of the gross sales from your product (this is usually hundreds of thousands of
dollars!).
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