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Quick Cash for Those with a Mailing List and Multiple Products to Sell

by Dennis Gaskill
11 replies
Just thought something I recently did could put some money in your bank account if you're game...

A few weeks ago I ran a "Name Your Own Price" sale. I had several of my products listed on one page and invited my subscribers to look over the products and make an offer on anything they wanted from that list. I said I'll accept your offer it seems fair or politely decline if I can't accept it.

I sold a ton. Many people bid on 4-6 products all at once. No one offered less than 50% of the selling price, and the most common bid was for 25% off.

A lot of people bought that hadn't bought from me before, so it not only rewarded my regulars but was an ice breaker for the lurkers.

Some of those first-time buyers came back and bought more products after they saw the quality of the first one they bought.

You want to raise some quick cash? Try something different.
#list #mailing #multiple #products #sell
  • Profile picture of the author Scott Henderson
    Great idea Dennis. Got a quick question for you though.

    Did you have to respond manually to the bids? Say Buyer wants product 'A' and is willing to give you $17 for it, did they have to submit that price via some method and wait for your reply or did you do it some other way?

    Thanks
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  • Profile picture of the author Dennis Gaskill
    Yes, that's the only drawback. It only takes a couple seconds though. I just created a signature file for an accepted bid that included the payment instructions and another with a rejected bid message. That's the closest thing to automating it that I could come up with.

    Think about though. Someone sends you an email with a bid. You click a button to accept or a button to reject and another to send the email, 2-3 seconds not counting the time to read and decide. None took more than 30 seconds and some of the orders were for over $100. Well worth the time in my book.
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    • Profile picture of the author halmo
      Originally Posted by Dennis Gaskill View Post

      Just thought something I recently did could put some money in your bank account if you're game...

      A few weeks ago I ran a "Name Your Own Price" sale. I had several of my products listed on one page and invited my subscribers to look over the products and make an offer on anything they wanted from that list. I said I'll accept your offer it seems fair or politely decline if I can't accept it.

      I sold a ton. Many people bid on 4-6 products all at once. No one offered less than 50% of the selling price, and the most common bid was for 25% off.

      A lot of people bought that hadn't bought from me before, so it not only rewarded my regulars but was an ice breaker for the lurkers.

      Some of those first-time buyers came back and bought more products after they saw the quality of the first one they bought.

      You want to raise some quick cash? Try something different.
      That's a great idea, Dennis! Thank you.

      Just curious, did those, bidding on multiple items submit one bundle price, or separate price for each product?

      Originally Posted by Dennis Gaskill View Post

      Yes, that's the only drawback. It only takes a couple seconds though. I just created a signature file for an accepted bid that included the payment instructions and another with a rejected bid message. That's the closest thing to automating it that I could come up with.
      Did you create a separate PayPal payment page for each customer since the amounts must have been different for each customer? Or how did you do that?
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      • Profile picture of the author Dennis Gaskill
        Originally Posted by halmo View Post

        That's a great idea, Dennis! Thank you.

        Just curious, did those, bidding on multiple items submit one bundle price, or separate price for each product?
        Hali, everyone that wanted multiple products bid on them together, as per my instructions (list the products you want and tell me what you're willing to pay).
        Did you create a separate PayPal payment page for each customer since the amounts must have been different for each customer? Or how did you do that?

        Hali
        No way, that would be too much work. I just had them send me the money via email. If I'd have made any pages, it would have been just one with a text field for the user to type in the amount we agreed to. That wasn't needed though.

        And everyone that bid sent their payment. No problem.

        To deliver the products was semi-automated too. I have a signature file for each product (in case regular buyers don't follow the "back to merchant" link and have redirects turned off) so I only had to click one signature link for each product they bought to send the download instructions.

        On average, I'd say I spent less than one minute total on each order. I didn't run the numbers, but I'd guess the average order was between $40 and $50. Not a bad per minute wage.
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        • Profile picture of the author halmo
          Thanks, Dennis.

          Originally Posted by Dennis Gaskill View Post


          No way, that would be too much work. I just had them send me the money via email. If I'd have made any pages, it would have been just one with a text field for the user to type in the amount we agreed to. That wasn't needed though.
          Yes, that makes sense, and very simple. Sometimes, the simplest things don't come to mind

          Originally Posted by Dennis Gaskill View Post

          To deliver the products was semi-automated too. I have a signature file for each product (in case regular buyers don't follow the "back to merchant" link and have redirects turned off) so I only had to click one signature link for each product they bought to send the download instructions.
          Dennis, would you explain it briefly, or point me to some resources, what you mean by a signature file for a product? Naturally, when I search the Warrior Forum about signature files, what comes up refer to the member signature files (not exactly the same as you are talking about here )
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          • Profile picture of the author Dennis Gaskill
            Originally Posted by halmo View Post

            Dennis, would you explain it briefly, or point me to some resources, what you mean by a signature file for a product?
            I'm referring to a signature file in my email client. I use Thunderbird with the Quick Text add on. When you write an email you can choose which signature or signature to use with the click of a button. A "signature" in this sense is just a prewritten (canned) response.

            When the payment notification comes in from Paypal I just opened an email to them and clicked the signature(s) I needed to give them their download links.
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            • Profile picture of the author halmo
              Originally Posted by Dennis Gaskill View Post

              I'm referring to a signature file in my email client. I use Thunderbird with the Quick Text add on. When you write an email you can choose which signature or signature to use with the click of a button. A "signature" in this sense is just a prewritten (canned) response.

              When the payment notification comes in from Paypal I just opened an email to them and clicked the signature(s) I needed to give them their download links.
              I had to laugh. I didn't think about that (I guess this is the "not thinking about simple solutions night"), although, I didn't know about the Quick Text add-on. Makes perfect sense. Thank you!
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  • Profile picture of the author paulie888
    Great idea, Dennis. The sale would have been like a limited-time virtual garage/sidewalk sale, and I'm sure it did pretty well as it's human nature to want a bargain.

    Paul
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  • Profile picture of the author PabloVTB
    Very neat idea, thanks for sharing it with us. Just wondering, were this informational products? (ebooks, stuff like that)
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  • Profile picture of the author tpw
    Great idea Dennis.

    I imagine you have dozens of products while I have three products. I am not sure I have a sweet enough offer yet to utilize that process.
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    • Profile picture of the author Dennis Gaskill
      Originally Posted by PabloVTB View Post

      Very neat idea, thanks for sharing it with us. Just wondering, were this informational products? (ebooks, stuff like that)
      They were almost all ebooks, but there were a couple of software programs in the mix. It was the info products that sold the best, but I think that's partly because the software has been around a long time and is outdated (and is currently is being completely rebuilt from the ground up).

      Originally Posted by tpw View Post

      Great idea Dennis.

      I imagine you have dozens of products while I have three products. I am not sure I have a sweet enough offer yet to utilize that process.
      If you didn't spend so much time here maybe you'd have more products.

      Seriously though, I had about 20 products in this offer, but you wouldn't have to have near that many. It would probably work with three products. People love a bargain, and probably even moreso when they get to set their own terms. A bigger selection would surely earn more money, but I might have gone too far and had too many options. I'll find out the next time...test test test you know.
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