When most internet marketers think of earning money online with infoproducts, they think about the money they'll make from selling their first product (report, ebook, software, audio, or video package). However, while the sales that are made on the front end are very nice, you can dramatically increase your income by making additional offers during the check out process – which is known as the back-end.
A one time offer (OTO), is an upsell or larger package that the buyer will have the opportunity to buy while purchasing your original product. They will have one chance to buy something at a discounted or special price. If they don't buy at that moment it will not be offered again.
Creating one time offers is a smart and effective strategy that allows you to offer your customers additional products, and increase your revenue in the process.
Quick Tip #1: Decide on the Format of Your One Time Offer
The first step is obviously choosing what to offer your customer in addition to the initial product that they're purchasing.
Think about what would best serve and entice your buyer. Oftentimes it may be more of what they are already purchasing, or a complementary resource.
Here are some ideas:
People learn in different ways. Because of this, you might offer something like a video or audio edition of the product they just bought.
Checklists, worksheets, and tools to enhance the results of the product they are buying are also popular.
Coaching, whether group or in a one-on-one fashion, can certainly get people excited about learning more, too.
A bundle of products, or discounts for buying products now that will be released in the future.
Perhaps offering additional rights to the product that they are purchasing – for instance resale rights or private label rights may entice your customer to spend more money, too.
Quick Tip #2: Make Sure the Offer is Relevant and of Interest
Though your upsell offer may be a steal at a great price, you must always make sure that is relevant to your original offer and would be of interest to your potential buyer. Consider your target market and make sure that what you are offering would enhance or add to the offer they have just purchased.
For instance, you wouldn't offer a scuba-diving ebook as an upsell to a gardening guide. It just wouldn't make sense. Both may be great products but neither relates to each other which will confuse and frustrate your potential customer.
The upsell should directly help your customer to succeed with the initial product.
Explain to the buyer that the additional resources in the one time offer will enhance their understanding and therefore give them better results than they would get with just the single product alone.
Quick Tip #3: Set Up Your OTO Properly
There is no better way to destroy your credibility than by saying that you have a "one time offer" but then offering it all over the internet. While many Internet marketers have become hardened to this sort of thing, there are those in other niches who would be disappointed if you are caught going back on your word. That trust can oftentimes not be regained at any price.
How do you set up the offer? You can use a software or a script that will truly make your OTO appear one time only. Or just ensure that the OTO only shows during the order process and is not available anywhere else.
This will create the true scarcity you need to make sales and always maintain the trust of your audience.
Quick Tip #4: Don't Over-Do it and Appear Greedy
Sometimes marketers start to get greedy by offering several one time offers back to back to back attached to the purchase of the original offer. By the time the person has clicked through pages of additional sales pitches, they may begin to feel like what they originally bought has lost its value.
While one (possibly two) one time offers can work wonders for your profits, you might find that the more of these you offer in sequence, the more disenchanted people can become, not only with your products, but with you as a person. Your sole purpose is to keep your customers happy so they'll come back over and over. If you destroy the relationship by getting too greedy you won't be as successful in the long run and will lose customers quickly.
Creating one time offers is an excellent strategy that can greatly increase your profits. Create a compelling offer that will be hard to turn down. Make sure it is a true one time offer, and that you don't have too many sales pitches that give your customers a bad impression of you. By following this advice, you can increase your profits by 50% or more.
