How To Use Public Domain Files Intelligently Part 7
How does a customer receive your completed product? Your ebook,
for instance. The most obvious way is to create a sales page and
let your paying customers download it.
We talked about this in Lesson 3 of this series, if you recall.
But are there other ways to distribute your product? Today we
will look at some of these possible ways and how they can be
beneficial in your online business.
Same product. Different Ways To Sell It.
Besides the obvious way of selling your product, you might want
to consider one or more of the following ways to enhance and add
value to your offers.
Offer the product with resell rights. That means the buyer gets
to make money with your product too. This allows youi to make a
bigger profit with each sale. For instance, your product is
selling for $25. In addition to that, you'd offer full resell
rights to your products at, say, $150. Bigger profits with a
single sale. Resell rights are attractive because they provide
the buyer with an opportunity not only to make use of your
product but to make money from it. If I was a customer
interested in an online business and I do not have my own
products, I'd be looking for good prducts that have resell
rights. $150 is a small investment to acquire the rights to a
product for selling. With the right techniques, I could sell
hundreds of products in the months and years ahead.
Another idea is to combine your product with other similiar
products of your own or of those you obtain resell rights for.
This way you sell a package with high perceived value. For
example, if you have a product on cooking tips, you could bundle
a few other 'cooking' products. How about putting together a
delicious package of 3 cooking products like ~ 1) Pro Cooking
Tips, 2) 101 Indian Recipes, 3) Chinese Cooking Made Easy.
Irresistible? I think so. You can see how the titles themselves
would pull in the cooking enthusiast! Instead of selling one
product for just $9, you could be selling 3 in a bundle for $27
or even $50.
Internet marketing surveys have shown that a cheaper product
will not necessarily outsell a similiar product that is more
expensive. This is because, buyers tend to attach more value to
an expensive product in the sense that it's of a higher quality.
I have personal experience with this. I have a product that I
was selling for $37 and sales was good. But when I added a few
more products to the bundle, I increased the price to $49 and my
sales increased. Not only was I generating more sales, I was
making a bigger profit with each sale!
Try it and see the next time you decide on a price for your
product. You may well find that you sell more when you increase
the price of your product!
Another good way is to use your product as a bonus. If you are
already selling a main product, add bonuses that would enhance
the perceived value of your product.
Finally, you can use your product as an upsell. It's like when
you're in McDonald's and the guy behind the counter asks you,
"Do you want fries with that?" You're selling a product on your
website. When your customer orders, you have the opportunity to
present him an aditional product (something related, something
that makes sense to order together with the first item) juts
before he checks out to pay of his purchase. This suggestion
alone can double your sales and profits.
On the internet, for instance, domain registrars do this. Whne
yuou register a domain, they ask, do you want webhosting with
that? Do you want URL forwarding with that?...and so on.
The next lesson on this series puts all the pieces together. I
have saved the best lesson for last. It's going to be fun. Watch
for it.