How to Use Your Current Customers to Skyrocket Profits

How to Use Your Current Customers to Skyrocket Profits
Your current client base is a gold-mine. Statistics show that 28-42% of the people who have bought something from you will buy again if you have something similar to offer. Think of the potential here. This is where a lot of your income can come from.

Let's say you have 500 customers who bought something from you for $50. You send all of them an email (costs you nothing) and sell 200 of them another $50 worth of your product (or a back-end/similar product). That's $10,000 in sales that you would have never seen. Some people even lose money on their first product with the intent to sell them on a back-end (a back-end is a product that you intend to sell your customers after they have bought your first offering/product). Many marketers (including myself) believe this is where all the real big money is made.

For example. A marketing guru by the name of Jay Abraham (he charges a $3000 consultation fee PER HOUR!) instructed one of his clients to offer a rare coin collection to new customers for $19.00. He was actually losing a couple of dollars on every sale. Of the 50,000 people who bought the coin collection at $19, nearly 10,000 came back and bought a back-end coin collection for $1000 or more. That one back-end made $2 million.

And that was only the first step. Every three months he mails the 10,000 people who bought $1000 or more and gets almost 1500 of them to spend an average of $5000.... That's another $1 million plus in sales!

Do you see how important back-ends are now? If you are selling a product, you MUST develop a backend if you don't have one now. If you can't come up with anything related to your original product to sell in the future, then split your current product up somehow. For example, if you were selling a book on finding your blood relatives through computer databases, you could offer a basic version for $9.95 and then 30 days later offer them an advanced version for $29.95.

Also, it is proven that you should keep in contact with your customers every 21 days for maximum sales. This has been proven time and time again by gurus such as Jay Abraham, Ted Nicholas, and Gary Halbert. These are the kind of marketing consultants who charge $15,000 up front just to write a sales letter for you, and then they get 5% of the gross sales from your product (this is usually hundreds of thousands of dollars!).

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