It is a simple concept. Develop a low cost product(such as an e-book), put up a website, get traffic to your site and make LOTS of money on the internet. And thousands of people try to do that every day. Some make some money, some don't. But do you know what the real key of Wealthy Marketers is? I can tell you in two words: Backend Products! A back-end product is a higher priced product you attempt to sell to your customer after they have purchased a low priced (or introductory) related product from you. Say someone bought a $37 ebook from a true wealthy marketer, that marketer would then attempt to sell them a product for $200, $ 500 or even $1000(by the way, for some reason, the response is better if the price is $197, $497, or $997.
A true wealthy marketer knows that secret. That's why cars, appliances, even houses sell for an odd number like that. You don't see a tv commercial for a new car for $25,000.
It will be for $24, 997! Notice that next time you watch tv!) If you're not trying to sell back-end products to your customers, you are losing out on the real money! It is far easier to sell to existing customers than it is to sell to new ones who don't know or trust you. If the first(low priced product such as an ebook) was incredible, and if you provided fast and friendly customer service, usually 20-30% of your customers will order your higher priced back-end products. But only if you offer it to them! As a matter of fact, this technique is used with direct response tv ads(a direct response ad is where an 800 number is given, and viewers are asked to order from the commercial!) Many of those ads actually LOSE money intially. But the wealthy marketer running those ads knows that he will make up for the loss and profit tremendously with the back end." A good example is cosmetics or acne products.
It may cost more to run the tv commercial than the total amount of money that comes in from the ad. But, in the case of the acne solution, the buyer must continue to use the product, so in this case the "back end" is not a one time order, but a continuous order, say each month, for as long as the customer needs it-maybe 6 months to a year or longer. So, instead ofjust a one time sale of say $19.97 for an acne product, the customer is automatically shipped the product each month for 12 months. The $19.97 sale becomes a $239.
64 sale!($19.97 x 12 = $239.64.) This is called a continuitiy program and is used often in tv and other media as their "back end." On the internet, a continutity program(such as a membership site with a recurring monthly fee) can also be used by a wealthy marketer as a "back end." But for simplicity, we'll just confine ourselves to higher priced products as our "back end.
" I was doing a radio interview a few years back with Terry Dean, an internet "guru" and a true wealthy marketer. (I think Terry actually retired in his early 30's! Proof that his methods worked!) Terry was telling me that he never made any real money on the internet until he started selling higher priced($497-$2997)products. In other words, this wealthy marketer was telling me that his success was all because he was selling back-end products! Wow! Below are 7 killer strategies you can use to sell your back-end products to your existing customers: 1. When you ship people the first product they bought, insert a flyer or brochure for your back-end product in the package. Or if it is an ebook, have a digital flyer for your back-end product. 2.
Give customers a free subscription to a customers only e-zine when they buy your product. You could include an ad for your back-end product in each issue. 3.
Mail(yes-snail mail!) your customers greeting cards on holidays or on their birthday. Include a small advertisement inside the card for your back-end product. 4. After ordering your first product from your web site, take them to a "thank you" web page and include a "special offer" for your back-end product ad on that page. 5. Give your customers a free membership into your "customers only" private site.
You could include your ad for your back-end product somewhere inside the private site. 6. Contact your customers by phone and ask them if they were happy with their purchase. You then tell them about your back-end product. 7.
Send your customers a thank you letter by mail or e-mail. You then mention your back-end product somewhere in the letter. You can become a wealthy marketer yourself if you apply this secret-offer a back-end product to your customers!.
John Abbott was once a low paid radio broadcaster. He learned some Success Principles and is now a successful Author, Speaker and Business Owner. He helps others achieve success. He specializes in Internet Marketing and Home Business. For more information, visit Wealthy Marketer