February 27th, 2012 // 2:08 pm @ Matt Bacak
There are several methods you can use to market your products. Many Internet businesses engage in the marketing funnel. The marketing funnel means that you first offer lower priced products such as eBooks and then move up to higher priced products such as personal coaching. It is an incremental approach to increasing the price and profit you will earn.
The marketing funnel is not the only marketing choice. Another option is the “Product Pipeline”.
What is the product pipeline? The product pipeline is based off the price of the product the customer bought first.
The product pipeline says the amount the customer paid for the first product (“X” dollars) means that they are only willing to spend “X” dollars at that time. So the next offer should be close to “X” dollars and closely related in the product line. You want customer to buy more than one product through your product line.
Example: A customer first buys a $97 product and then buys 4-5 more related products (around $97 each) in the next 30 days. This is a consistent type of model.
What about your high priced products? You offer the customer higher priced products once they are out of the product pipeline.
Let’s back track a moment. You need to bring customers to your website before you can bask in sales. To ensure that you are maximizing your profit make sure that you keep track of the following numbers. These four numbers are so critical that you can solve any problem you encounter by tracking these numbers.
Must-Know Number #1: Number of unique visitors that come to your opt-in page.
Must-Know Number #2: Opt-in Conversion rate – how many visitors went to your sales letter.
Must-Know Number #3: How many actually went to order page from sales letter.
Must-Know Number #4: How many people from order page actually completed the sale.
How can you track these numbers? Use the “Google Analytics” program.
The moral is to keep track of your numbers and use the product pipeline system to maximize profit!
There are many strategies to making money on the internet, but nothing makes sense unless you have a big list. Email Marketing is the most profitable way to make money on the internet. When you build a list of hot and hungry prospects you control your future. Discover how to use the internet and turn your computer into a cash gushing machine. Sign-up right now for Matt Bacak’s FREE online newsletter to find out how to do exactly that – Go here: http://www.promotingtips.com!