2 Ways To Keep Your Online Business Profitable
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Is your online business in a state of profitability, or is it just struggling to make ends meet? If your answer to this question is that you're struggling to make ends meet, then you will want to revamp your business and start doing things that can make you profitable right away.
There is no such thing as "get rich quick" online. You have to follow a simple step-by-step process that will allow you to get the traffic and sales that you are looking for in your business. In today's lesson, I want to share with you some of the things that you could be doing to have the most success in your online business right away. Here's tip number 1:
1) Focus on backend sales
Backend marketing is something that is very important in your online business. Backend marketing simply means that you're selling to your existing customers. This will account for 80% of your total business profits. So neglecting them just to find another new customer doesn't make sense. It's an exercise in futility.
Once you have a nice sized customer database, it's time to start marketing to them again and again and again. Put them into your backend marketing funnel, and email to them every 4 -14 days (depending on your niche and what you sell). For most online business owners I know, they mail out every 4 days - but that's just because of what they sell. If you sell something like cupcakes online... you may want to send an email out every 14-30 days.
Whatever you do, just don't be a pest to your backend customers - they hate that. Here's another tip for having success in your online business.
2) Have a strong money back guarantee
A money back guarantee can only HELP to improve sales. Even though all the risk is on you, you will boost your conversion rates just because of this one aspect alone. And guess what? The longer the money back guarantee, the better. What I mean by this is that, if you had the option to offer a 60-day money back guarantee or a 6-month money back guarantee, which one sounds more appealing? It's obvious - the 6-month guarantee.
And believe it or not, with all the time that your prospects' have on the hand, it may take them 2 months just to use your product. Now if you limited it to 30 days, and the product takes 15 days just to arrive at your house... they will feel uncomfortable with the time restraint, and will have to rush to use the product to see if they want it or not.
This is just marketing psychology. In short, offer your prospects' longer guarantees. I personally like to offer a 12-month money back guarantee if you can believe that. The longer, the better - and don't let anyone tell you differently.
These 2 tips for earning more money in your internet business are things that you will want to consider using right away if you want to boost your sales and profits. I think you can make it happen.
Good luck with using these 2 marketing strategies in your internet business today.
ABOUT THE AUTHOR: Randall Magwood is one of the most respected and highly-regarded online marketing experts on the internet. He has a website about internet marketing that helps small business owners learn how to market their business online simply and easily. To learn more, visit here: Internet Marketing Secrets
There is no such thing as "get rich quick" online. You have to follow a simple step-by-step process that will allow you to get the traffic and sales that you are looking for in your business. In today's lesson, I want to share with you some of the things that you could be doing to have the most success in your online business right away. Here's tip number 1:
1) Focus on backend sales
Backend marketing is something that is very important in your online business. Backend marketing simply means that you're selling to your existing customers. This will account for 80% of your total business profits. So neglecting them just to find another new customer doesn't make sense. It's an exercise in futility.
Once you have a nice sized customer database, it's time to start marketing to them again and again and again. Put them into your backend marketing funnel, and email to them every 4 -14 days (depending on your niche and what you sell). For most online business owners I know, they mail out every 4 days - but that's just because of what they sell. If you sell something like cupcakes online... you may want to send an email out every 14-30 days.
Whatever you do, just don't be a pest to your backend customers - they hate that. Here's another tip for having success in your online business.
2) Have a strong money back guarantee
A money back guarantee can only HELP to improve sales. Even though all the risk is on you, you will boost your conversion rates just because of this one aspect alone. And guess what? The longer the money back guarantee, the better. What I mean by this is that, if you had the option to offer a 60-day money back guarantee or a 6-month money back guarantee, which one sounds more appealing? It's obvious - the 6-month guarantee.
And believe it or not, with all the time that your prospects' have on the hand, it may take them 2 months just to use your product. Now if you limited it to 30 days, and the product takes 15 days just to arrive at your house... they will feel uncomfortable with the time restraint, and will have to rush to use the product to see if they want it or not.
This is just marketing psychology. In short, offer your prospects' longer guarantees. I personally like to offer a 12-month money back guarantee if you can believe that. The longer, the better - and don't let anyone tell you differently.
These 2 tips for earning more money in your internet business are things that you will want to consider using right away if you want to boost your sales and profits. I think you can make it happen.
Good luck with using these 2 marketing strategies in your internet business today.
ABOUT THE AUTHOR: Randall Magwood is one of the most respected and highly-regarded online marketing experts on the internet. He has a website about internet marketing that helps small business owners learn how to market their business online simply and easily. To learn more, visit here: Internet Marketing Secrets