Advanced Profit Strategies, Part I - How To Up Sell, Cross Sell, And Sell Backend Products
In a word, this is called "merchandising" and nobody knows it better than your local neighbourhood grocery store. Because everyone is probably familiar with their grocery store, let"s use it as an example of how you can up-sell, cross-sell, and sell backend products.
Up-sell. You have a display of potatoes. Basic Idaho baking potatoes. They sell for $2 a pound which is what all my competitors sell potatoes for. Right next to them I offer potatoes from Prince Edward Island. Each one is wrapped in gold foil and there"s a sign on them that says: "Highest in nutrients and flavour!" They sell for $2.30 a pound. The consumer comes into the store shopping for potatoes; they want a basic potato. But some number of consumers see the sign and say "Hmmm, only 30 cents different, why not?) The sale price of a potato just went up.
Cross-sell. Right next to my potato displays is a little fridge. Inside the fridge are cartons of sour cream that sell for $1.90 each and on top of the fridge is a stand-up display featuring bacon-bits that sell for $2.40 a jar. The stand-up display shows a delicious-looking image of baked potatoes running over with sour cream and bacon bits. Get it? Maybe only one out of every twenty potato buyers, buys sour cream or bacon bits. But, effectively, for the same cost of sales, You have averaged your revenues up.
This is one of the easiest ways, and with internet marketing becoming more difficult to monetize on the first visit, is becoming a mandatory way, to make profits - not just revenues - online.
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Source: http://ezinearticles.com/
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