Use Back End Sales
One of dozens of strategies listed and linked to here:
How to Make More Money
From Your Business
By Steve Gillman
What are back-end sales? They are sales made after the initial
sale, and are sometimes called add-on sales. If you call to order
something you saw on a television infomercial, for example, it
is likely that they will ask you if you are interested in adding
something else to that order, "for just x dollars more."
Upgrades can also be a form of back-end sale. You click to buy
a subscription to an online service, and before you can enter
your credit card number, you are prompted to consider spending
just a little more for a "premium" version.
Why are back-end sales such a good way to boost your profits?
Because they are made to customers that you have already paid
for. Think about it, you spend money to get customers, in general
marketing expenditures and in specific advertising campaigns.
There is a cost for each customer acquisition, and therefore
for each sale. But if you make an additional sale to a customer
you already have, there very little or no cost to obtain that
sale. Virtually all of the gross profit becomes net profit.
How you do this depends on the nature of your business. Suppose
you own a pet store, for example. Once a customer buys a hamster
or parrot he or she might never return again, preferring g to
buy cheaper food at Wal-Mart. So once the sale is made, you might
offer twenty percent off any food or supplies the customer buys
today. If you have margins that allow for a profit after the
discount, you might double your total profit from that customer
on that day.
In a hair salon, a good beautician will not let you pay for
a hair cut and leave. He or she will offer you some hair care
products as soon as your cut and style is done. At the register
in an office supply store, you'll be asked if you want an extended
warranty for your computer or other electronics service. If you
haven't already done this, find a way to do it in your business.
You can also follow-up later, again depending on the nature
of the product or service that you sell. If you sell hot tubs,
you can call the customer later and ask how they are enjoying
their purchase, and also offer a regular maintenance plan so
they don't have to worry about doing the cleaning and chemical
treatments themselves. When the maintenance man is there he might
suggest accessories that the customer can buy as well. Always
look for opportunities for back-end sales.
If you liked this page please let others know with one of
Other Relevant Pages
Money Making Ideas
Some Good Businesses