In this lesson, you will learn how to convert prospects into raving fan clients through your marketing campaigns.
When to use
The messages in your marketing have worked, and a prospect is ready to buy your product. To get them to convert into a paying customer, you can offer them an upsell to maximize value, or a downsell to ensure they convert.
Choose a core product and core price. This is the one item your marketing has been focused on.
Have an upsell – could be companion item, enhancement to increase speed or depth.
- Examples of companion item – batteries sold as an upsell to a toy, or a laptop bag and mouse as an upsell to a laptop.
- Customer is already committed to buying one product. If you can sell them additional items or an upgraded package through an upsell, this gives you a better return on the marketing dollars you have spent to acquire this customer.
Have a downsell – a less expensive, less featured item to your core product.
- Some people are going to want to buy your product, but can’t afford it. This is where you have a less expensive, less featured item as a downsell.
- Even though this item is less expensive, and results in less revenue for you, you are still earning something and importantly, converting the prospect to a client.
- Turning the prospect into a client allows for future marketing. Next time they may buy your core product, or refer you to friends.
Have an advertising budget. Look at your revenue and finances, and set a budget. It can be a dollar amount, a percentage, be weekly/monthly/quarterly – but be sure to have a budget.
- Marketing is not an exact science, and there is risk involved. You can make well informed, researched decisions in marketing, however there is always an element of luck and creativity which results in trial and error.
- Bottom line – be sensible and set a realistic advertising budget. Do not get yourself into financial trouble.
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