How to Tap the Profits Hidden in Your Internet Business!
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I’d like to show you five secret strategies to extract profits hidden in your Internet business. Pay particular attention because any of these can boost bottom line revenue fast.
Upsells
Upsells are additional sales made at the initial purchase. McDonald’s does it when they ask to super size your order. When you sell an ebook for $30, you can add an upsell to the order form. The upsell offers an expanded version of the ebook with an extra bonus for $10 dollars more. This increases your initial transaction size. Done properly, at least 20% to 50% of your customers will buy the higher priced item.
Lifetime Value of Customers
Lifetime Value refers to how much a customer is worth. Customers tend to buy more than once. Say you sell vitamins online. It costs you $50 to bring in every customer. But they buy from you for six months at $30 per month. Even if you lost $20 on the first sale you profit $160 per customer over six months. Knowing this, you can break even or lose a little money upfront to get a new customer and profit from the repeat sales.
Back End Sales
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