Are You Losing Money Because Of "One Time Offers"?
I thought I would just drop a few thoughts, that have resulted from testing across a few different markets.
I see a LOT of people talking about upselling, and how important it is. More specifically, I'm talking about one time offers, you know those offers that are made before you complete your purchase.
If you've only ever used Paypal to sell, you might not be aware of One Time Offers - but basically, you enter your payment details, and before you complete, you offered a one time chance to buy something else.
The wisdom of this idea is that you make money you wouldn't otherwise make.
I've seen plenty of people, guru's and newbies claim that they make a lot more money with one time offers.
I'm sure that is true - but from my experience and from a few coaching members, I'm not entirely sure the OTO is half as effective as people think.
Let me get to the point:
Almost every time I've added a traditional OTO my cart abandonment rate has gone up - to the point where I was not making much more from the OTO addition than I was losing in increased abandoment...
I've seen this in:
Now, there are bound to be some people who totally rock OTOs and make tons more.
No doubt about it.
And, I guess a lot of it depends on the price of the OTO and the relevance / relation to the main product.
Still, I don't think I was completely off base with either of those things in the marketing campaigns I just mentioned.
What I have found effective is to have a OTO AFTER the credit card payment for the main product has been made.
Sure, a substantial number of people simply can't be bothered to reenter their card details , but with Paypal there seems to be a little less resistance.
In both cases, I've seem much more increased income across physical and digital niches in using this type of OTO.
I'm just wondering, how have other people found OTOs and what do you think of them from a moral standpoint as well (I guess)....
I see a LOT of people talking about upselling, and how important it is. More specifically, I'm talking about one time offers, you know those offers that are made before you complete your purchase.
If you've only ever used Paypal to sell, you might not be aware of One Time Offers - but basically, you enter your payment details, and before you complete, you offered a one time chance to buy something else.
The wisdom of this idea is that you make money you wouldn't otherwise make.
I've seen plenty of people, guru's and newbies claim that they make a lot more money with one time offers.
I'm sure that is true - but from my experience and from a few coaching members, I'm not entirely sure the OTO is half as effective as people think.
Let me get to the point:
Almost every time I've added a traditional OTO my cart abandonment rate has gone up - to the point where I was not making much more from the OTO addition than I was losing in increased abandoment...
I've seen this in:
- two online b2b services
- one b2c online service
- a CD month of the club group
- and direct marketing cookware via home parties.
Now, there are bound to be some people who totally rock OTOs and make tons more.
No doubt about it.
And, I guess a lot of it depends on the price of the OTO and the relevance / relation to the main product.
Still, I don't think I was completely off base with either of those things in the marketing campaigns I just mentioned.
What I have found effective is to have a OTO AFTER the credit card payment for the main product has been made.
Sure, a substantial number of people simply can't be bothered to reenter their card details , but with Paypal there seems to be a little less resistance.
In both cases, I've seem much more increased income across physical and digital niches in using this type of OTO.
I'm just wondering, how have other people found OTOs and what do you think of them from a moral standpoint as well (I guess)....
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Steve Peters Benn -
Thanks
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