LESSON #55: Upsells and One Time Offers

In the previous lessons we’ve been working our way up to the point that you should now have something that you can sell online.

But whether you’re already selling something or if you’re still getting ready to launch your first product, you really need to think about how you can increase your profits with upsells and one-time offers.

(Watch this video…)

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Main points:

  • Depending on how you look at it, an upsell or a One Time Offer is either an extension of your front end offer, or the beginning of your back end.

  • The back end is where many businesses make the majority of their profit.

  • By using upsells and one time offers, I generally increase the profit of any particular sale by anywhere from 20% to 200%.

  • Upsell: asking your customer to upgrade their purchase to a bigger purchase, or to make an additional purchase.

    (See video for examples; McDonald’s, Best Buy, furniture, car rentals, etc.)

    Upselling is everywhere. Sometimes it is done in an unethical way, but if done right there’s nothing wrong with it.

    *Upsells should be beneficial to your customer.

  • Cross-selling: You try to sell something ELSE to your customer that they might be interested in.

    (See video for several examples of ONLINE cross-selling and upselling)

  • If possible, upsell your customer into a continuity program!

  • OTO: a One Time Offer is presented only once to a customer or prospect.

    (See video for examples of several offline and online OTO’s)

    The best OTO’s are often the ones that make the customer feel like they’re missing out on something if they don’t buy it.

    You can turn any sales letter into an OTO (See video).

    Why OTO’s work so well:

    1) The customer is in a buying mood.
    2) URGENCY!

    (See video for demonstration of how to set up OTO’s)

  • Methods of protecting OTO pages so that users can only see them one time…

    1) Use a website script with this function, such as Butterfly Marketing – mentioned in lesson #32.
    2) Have it custom coded by a programmer.
    3) Create a “cookie” script if you know PHP.
    4) Use a prewritten script such as this one which tracks both cookies and IP address.

    Recommended Resources:

    Free OTO Protection Script

    Instant One Time Offers

    Instant OTOs

    Action steps:

    1) Figure out an upsell or a One Time Offer (or both) to incorporate into your sales process.

    2) Implement it.

    Believe it or not, you may want to boost your profits even more by creating a downsell… or a 2nd OTO. I’ll explain those strategies in the next lesson.

    As always, you are welcome to post your questions and comments below.

    Have a great day!