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"Start Increasing Your Profits -- Even If You Can't Increase Your Sales..."
By The Internet Marketing Chronicles

Let's face it, the economy is soft right now and many businesses are struggling to maintain their profits and sales, much less focus on any new growth. So how do so many businesses that are affected by the downturn in buyers, manage to maintain, and possibly grow, their profits while their competition suffers around them?

In our Internet Marketing Challenge forums, one of the most common mistakes that I see new members to our Marketing Challenge Private Community make is focusing 100% of their marketing efforts on finding new customers each and every month, spending huge amounts of money and time to keep getting the same results over and over.

So today, I'd like to share with you two bulletproof solutions you should be using to increase the profits on your website -- without actually increasing your sales -- to beat the soft economy and grow your profits TODAY!

1) Instantly Increase Your Profits Using Up-Sells and Value-adds!

Value-adds and up-sells are a simple way to easily increase your profits overnight.

The traditional masters of "value-adds and up-sells," in my opinion, are McDonald's Restaurants. I don't think there is anyone who is not familiar with the "Super Size" up-sell or the "Would you like fries with that?" value-add.

By simply increasing the size of your pop, and giving you a few extra fries, they are able to add fifty cents to a huge percentage of every value meal they sell -- just by asking one question. Fifty cents may not seem like much, but since their model is based on quantity, not necessarily quality, if they Super Size 1/3 of every value meal sale and sell a thousand value meals a day, they are making an extra $150 by simply asking customers if they would like to increase the size of their purchases. This is a perfect example of an up- sell and can easily be applied to any business model with a little creative action.

Of course, McDonald's does such a high volume that a fifty cent up-sell can add up quickly. Most businesses need a little larger profit margin in their up-sell, but it works and the beauty of the Internet is that the process can be entirely automated.

Can you imagine how many millions of dollars McDonald's has generated over the last 30 years by asking that simple question, "Would you like fries with that?". If you do not have a complementary product to add as a value-add then find one! The longer you wait the more profits you are literally throwing out the window.

Keep in mind that, when determining the price for the value- add and up-sell, the extra cost should never exceed 50% of the price of their initial purchase. So if someone is purchasing a hamburger for $2, the value-add or up-sell should never be more than an additional $1.

To make this technique even more effective, the value-add or up-sell should be positioned at a discounted price because it is being made with the initial purchase. For example, if someone were to buy the fries without the hamburger, it would cost $1.50, but since they are adding to the purchase of their hamburger they instantly get a 33% discount so the fries only cost them $1!

2) Profit From The People Who Trust You Most -- Your Past Customers!

If you provide a quality product or service to your customers, did you know that they are far more likely to buy from you again, rather than your competition?

Did you also know the cost to sell an additional product or service to a past customers using the Internet is almost non- existent compared to the costs associated with acquiring a new customer?

You have already built the rapport and credibility with this customer. They trust you and know who you are. They know that the last time they ordered a product from you, it was of high quality and the service they received was terrific. You have already overcome the biggest obstacles of making a sale on the Internet.

Even if you do not have a "backend" product or service to offer your past customers, take the time and find something. If you don't have the time to come up with a product on your own, find another company that has a related product as well as an affiliate program and promote their product. You don't get to take home all of the profits, but at least you are making some money that you would have never had before.

There are literally thousands of affiliate programs on the Internet today, so I don't care what business you are in, you can find something to offer past customers. For one of the most extensive lists of affiliate programs, categorized by industry and product, go to http://www.associateprograms.com.

Conclusion:

Value-adds, up-sells, and backend product sales need to be part of your sales strategy... especially in an economy that requires you to achieve maximum profits on every sale you make, and to exploit every sales channel to its fullest potential.

Think like your customers. What else do they need? How can you best serve them? Don't think like a carnival hawker who rolls into town, gets as much money as possible from the midway rides and games, and then quickly folds up the tent and moves on to the next city. Build your business on a solid foundation and implement these three powerful sales strategies.

Sell benefits and value. Explain exactly why "spending the extra money is worth it." Use testimonials, quotations from authoritative sources, statistics, comparison charts and solid content to "make your case." As you use these three techniques, focus on "what's in it for your customers." You will profit for years to come.

All the best,

Derek Gehl - President
Internet Marketing Challenge

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Derek Gehl is the President of the Internet Marketing Challenge. A former protege of some of the biggest names in web marketing, he was instrumental in developing several multi-million dollar online companies in record speed. Don't try to reinvent the wheel. Why not let us teach you everything we've learned about marketing online over the past 6 years? It's all in a private website!
Go NOW: http://www.marketingchallenge.com/ezine.html


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