Learn to Use Web Based Email Marketing
Web based email marketing is a very powerful tool for boosting your profits. Website owners have found that they can increase their profits by eight times or more simply by implementing web based email marketing. It’s important to understand the typical buying cycle, the importance of follow up and how a back end increases your bottom line in order to understand how email marketing can affect your business.
Understand the Buying Cycle
Most people simply will not buy the first time they see your website. About 99% of your visitors will land on your website and leave without buying anything.
That doesn’t mean they weren’t interested in your product. It just means they weren’t interested right now. Or perhaps they just don’t trust you or know you enough yet.
Letting these people go is like letting 99% of your advertising dollars go to waste. Instead, to really maximize your profits you must learn to follow up and get sales from the remaining 99% who didn’t buy the first time around.
Follow Up for Major Sales Increase
Following up can turn a 1% visitor to sale ratio into as much as 8% over the long run. That’s an 800% increase in revenue!
That’s why it’s so important to follow up with your customers. A lot of people won’t buy simply because they don’t know and trust you.
However, if you follow up then over time they’ll start to see that you’re a real business that will take care of their customers over the long term. They’ll begin to know and trust you.
You’ll also get your message in front of them at different points in their life. Eventually, they’re much more likely to buy.
The Importance of Back End to Your Bottom Line
Finally, it’s important to realize how important your back end is to your bottom line. Your back is the products and services you sell a customer after the first purchase. This is where the real money is made. Yet most business owners focus on just getting more front end sales.
Let’s say every month you make 30 sales at $100 for a total of $3,000. Most business owners would focus on getting those 30 sales to 40 sales.
Instead, a savvy business person would try and sell a $400 product to all 30 of those who bought. If about 20% take them up on it, that’s a $2,400 bump right off the bat.
Then a savvy business owner might try and sell a $1,000 product. With the right marketing, about 10% will buy. That’s an extra $3,000.
Finally, a savvy business person will likely try and implement some kind of continuity/membership program. At $97 a month, if it’s tied into the original product about 50% will sign up for about 4 months. That’s (15 times $97 times 4 equals) and extra $5,820 a month.
That’s an extra $11,220 on top of the $3,000 you’re already making from just 30 sales a month. As you can tell, selling more to your existing customers is much more profitable than trying to get more new customers.
The best way to sell more to existing customers is through web based email marketing. It’s the only free way to consistently follow up.
You now know the how the typical buying cycle works, you understand the importance of follow up and you know how much a good back end can boost your business. Apply this and web based email marketing to help your business explode its profits.
