The money is in the list: Whether you’ve heard the saying or not, it is very true. If you have an online business then you should be building a list of subscribers. E-mail marketing is a very powerful tool to grow your business and your profits. A good e-mail marketing campaign can increase your profits by eight times or more.
With e-mail marketing there are some points that can help you be successful, so let’s take a look.
Understanding the Buying Cycle: Around 99 percent of visitors to a website will not buy the first time that they visit the site. Although they don’t buy when they first visit the site they may still be interested but are considering their options.
If a visitor comes to your website and then just leaves, you are losing a potential sale. Even though they are not ready to buy just yet, you can still profit from that visitor by capturing their details so you can follow up with them and possibly make a future sale.
Using Follow Up E-mails: If 99 percent of visitors leave your site without buying then you are only getting a 1 percent sales conversion. Wouldn’t you like to change that 1 percent conversion rate to perhaps as much as 8 percent conversion? Capturing your visitors details and using follow up emails can increase that conversion rate by as much as 800 percent to a 8 percent conversion.
Many people won’t buy a product because they don’t know who you are or if they can trust you; after all this is the first time they have visited your website. By capturing their e-mail address you can follow up with e-mails over time and build trust with those people. When a person begins to know and trust you from your e-mails they may then decide to purchase your product.
Using Backend Sales: As well as purchasing the original product you are selling, your subscribers may also buy other products from you in the future which will increase your profits even further. Promoting other products or services after the original sale is called your backend sales. Backend selling is where the real money is made in online business and many internet marketers miss out on a lot of profits by neglecting to sell backend products and only focusing on the one product.
For example, let’s say the main product you promote sells for $50 and you make 50 sales a month for a total monthly profit of $2,500. To increase profits many business owners would focus on increasing the number of sales that they make each month.
But what if you took the backend sales approach instead. What if you tried to sell another product to those existing 50 customers, let’s say a $200 product. If 20 percent of those customers bought the second $200 product you would have an extra profit of $2,000.
That extra $2,000 profit will come from those customers who have bought the original product and they already know and trust you.
Another option could be to sell a membership product to those original 50 buyers. What if you offered a program that cost another $50 a month membership, if 50 percent of those 50 people joined that membership program you would make $1,250 extra profit, not only for that month but on a monthly basis until they left the program. If even just 10 of those people remained members for 12 months that is $6,000 profit for a year. If you have 10 extra people joining your membership program every month, that profit will grow higher and higher.
So you can see that a backend product or membership program can be extremely profitable for your business and it is often easier to sell to your existing customers than trying to find new customers. n
E-mail marketing really is a necessity for any online business if you want to build your business and achieve high profits. At LeadUp Solutions, we have the solutions to make e-mail marketing a snap and will take your business to a whole new level. Visit LeadUp.Solutions for details.
