Simply trying to sell as much of your product as possible is a relatively modest aim in itself.
Better yet, is to use your new product in order to sell other new products. This way, you can scale your business and you can grow your profits.
What I’m referring to here is what’s known as a “sales funnel” with upsells, which simply means that you use one sale in order to make another sale. Normally, the second sale will be bigger and more expensive, or it might just be a matter of expanding the product that you’re selling into a bigger package.
For example then, if your PLR package came with a lot of free materials (mind map, cheat sheet etc.), then you could hold some of them back and keep the price a little lower. Then, when the buyer is at the POS (Point Of Sale – the moment before they click ‘buy’), you then advertise that they can expand their package to the ‘premium package’ for just $15 more.
This can encourage people to spend more than they otherwise would. The reason for this is that they will now be poised to buy and they’ve already made the decision to spend money. They may have even entered their details, so the ‘barrier to sale’ is incredibly small. What’s more, is that they’re already spending money, in which case a little more does not seem like much extra at all. And no one likes knowing that they are missing out or getting the ‘dud’ version.
There are other ways you can sweeten the deal too. Like recording a video/audio version of your main product. This is an excellent way to boost the value of your product and to earn much more as a result. Another option is simply to bundle multiple products together into a big package – ensuring that those products are relevant. The good thing here is that it costs you nothing to provide what will seem like twice the value that you were providing before.
You can also use your initial sale to make completely separate, unrelated sales. One way to do this is to sell a ‘bigger ticket’ item, which is one of the main reasons to build a sales funnel in the first place. If you happen to have access to an amazing product that you think you could sell for a high price, then you need to be very careful about how you’re going to promote that product.
The best way is to encourage your customers to make a modest purchase first. Why? Because this way, they will have seen that you are capable of providing value and that you can be trusted. Moreover, they’ll know precisely how to order from you and their details might even still be saved on your site! It’s simplicity itself for them to just turn that small order into a big one. As well as promoting this bigger product through sales funnels, you can also include references to it within the main product you’re selling.
Another option is to offer a discount bonus to those who have bought from you. They now not only have that trust, familiarity and ease of buying, but they also have an added incentive to act fast and to get even more value from you. This way, you can encourage even more sales than you otherwise would!
For more information on increasing profits using sales funnels, check out our Instant Funnel Pack with Private Label Rights.