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BizWeb eGazette is an Internet Marketing publication from Jim Daniels of JDD Publishing Co. -- as seen in Opportunity Magazine, Inc.'s 301 Marketing Ideas, Wealth Building Magazine, Six Figure Income, ZDNet and more...

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


         October 12, 2007            Circulation: 148,052             Submit URL           AddThis Social Bookmark Button
 

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In today's issue...

Have You Plugged These Holes In Your Business?

I had been puttering along and doing quite well online for years. My income had grown to six figures and I considered my marketing plan solid and well-rounded. It was not.

I uncovered two holes that were leaking income like a broken faucet. In fact, these two holes were costing me more than $150,000 a year. I plugged them and that's how much my income increased.

Do you need to plug these holes in your business as well? Read on and find out...


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Hole #1: Price Range Too Narrow!

One fateful day some seven years ago now, a well-known Internet marketing guru invited me into a joint venture. I reviewed his service and it was top-notch.

However, it was priced at a few hundred dollars. My first thought was that it was not ideal for my audience. After all, most were small or home based business owners like myself, so they were working with limited budgets. I declined his offer.

Like the great marketer he is, this guy didn't give up. The very next day, he took my reason for saying no, and identified it for what it really was... a "hole" in my business plan. And while it was a glaring hole from his perspective, being too close to the problem, I had never seen it.

He revealed the hard facts to me with one sentence that fateful day...

"Jim, you are severely limiting your income potential by offering primarily low-priced products and services at your website. "

Admittedly, the average amount of each sale I made back then was in the $30 range. My books, manuals and software sold well and my highest ticket item was less than $100. To me that sounded like a high-priced ticket item. He explained that on the Internet, it is not. He was pulling in a better sales to visitor ratio than I was, and his service cost almost seven times my average ticket item!

So I agreed to join this expert in an attempt to plug the hole in my business. As I mentioned, at first I was a bit reluctant to offer any high-priced items to my readers. I didn't want to seem greedy. But I quickly learned that online, there are more people willing to pay for premium services such as the one I was about to offer.

By simply adding this one higher priced service to my offerings, I was able to increase my income immediately, to the tune of $1000 a week! Actually, I cashed commission checks totaling $44,590 throughout the next six months, from this one program. And in the process I was able to satisfy more of my customers.

Since then I have gone on to produce many products with higher price tags and have sold more than a million dollars worth of them. There's no way I could have done that with $20 ebooks.

Take a look at your own products as well as the products and services you recommend as an affiliate. Is the price range too narrow? Are you satisfying customers who have a little more disposable income or are willing to pay for premium services? If not, plug that hole and your income will increase literally overnight.

(More after this important sponsor message.)



Hole #2: No Automated Follow-Up Marketing

The second hole I identified was something I had been meaning to put into place but never got around to. In fact, since implementing it just a few years ago, it has generated more than $75,000 in income every year, all by itself.

This one takes a little time and effort to set up, but you can do it all in about a day or two.

The strategy is simple. When someone either makes a purchase at your site, opts in to receive your newsletter or grabs any freebie you offer at your site, they are added to an email follow-up series.

The series contains 10-30 pre-written email messages from you, delivered every week or so. In the messages, you offer your help as well as additional products and services related to their original purchase or free download. The products and services can be yours, or they can be affiliate products and services.

Of course, the more traffic and signups you can get at your site, the more this strategy will earn you. But it WILL earn you additional money, and it is 100% automated.

All you have to do to get it in place is write the email messages and upload them to one of those web based autoresponder services. I use webbusinesswizard since it also handles my order taking and affiliate programs, but you can use any service you want.

The main thing is to get an email series up and working right away. If you are not using this proven strategy, you have a gaping hole you need to plug!

In closing...

Do you have one or both of these holes to plug in your online business? If so, the time to plug those holes is today. There are now more reasons than ever...

1. Online spenders have more money.

By marketing to people online, you are reaching the highest income bracket in the world. And remember, selling one $200 item is easier than selling ten $20 items.

2. Spending habits differ from one person to the next.

Don't make the mistake of thinking your potential customers' spending habits are the same as yours. Everyone spends differently.

3. The big ticket items ARE selling!

Someone is going to sell the high-priced items and someone is going to buy them. That's a guarantee. Why not be the marketer who fills the need.

4. Your customers want more!

If you customers receive quality products from you, they will listen and BUY when you recommend related products and services. Make sure you have an automated system follow up with them on a regular basis, recommending your other products and services, as well as affiliate products and services.

Remember, you do not need to create your own products to accomplish these goals. Find a solid product or service that would fit in well at your site. Make sure it is directly related to what you are currently marketing and make sure it is worth the price.

If there's no affiliate program available for the product or service you want to offer, contact the webmaster with a joint venture proposal. You may be surprised at how many webmasters are receptive to these offers.

If you're in the internet marketing arena like me, consider joining my latest affiliate program. Full details are right here, and who knows... this may turn out to be an extremely valuable lesson for you too!

Best regards, Jim Daniels
http://www.bizweb2000.com

Well, that's it for today's gazette. See ya in a few weeks...

Jim Daniels - Creator of ezWebBusinessBuilder - the world's first View it and Do It software for profiting from the web.

P.S. You won't believe how easy this makes it..


A closing message from the editor:

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