Many people who sell products online just simply put up their offer (ebook, videos, report) and call it a day. However, successful website owners have an entire sales funnel which their customers go through.
Having a sales funnel can dramatically benefit your business in many ways. A sales funnel example could go like this….
You customer buys your ebook for $37 –> They are then offered your video series that compliments your ebook for $67 –> They are then offered personal coaching to make them more successful with your product for $97 per month.
Those are all upsells and you should also have downsells in your funnel for those who do not purchase the upsell. For example, if your customer passes on the video series for $67 you could offer then a smaller version of the videos for only $27 or so.
Upsells/Downsells have been tested over and over and most people will tell you that around 40-60% of people who buy your frontend product will purchase an upsell. If you are not offering an upsell you are leaving major money on the table.
Besides leaving money on the table you are also hampering your marketing efforts.
If you just sell a $37 ebook then you know that you can spend up to $37 to get a new customer and you will make money. However, if you have an entire sales funnel you can actually spend more on advertising.
Let’s say that when you factor in your upsells/downsells that a new customer is actually worth $60 (based on some customers buying more than just the ebook). Now you can spend up to $60 and still make money with your advertising.
Better yet, you could pay affiliates a 100% commission on the frontend ebook and still make money!
Setting up a backend sales funnel is the easiest way to increase your income from your product instantly. And once you have it set up and know your metrics (how much a new customer is really worth) you can be much more aggressive with your advertising.