The 5 Components of a Successful Online Business (Part 3)
Hello. Welcome back to the blog today. In today's topic we're going to be discussing the third element or component of running a successful online business. We've already discovered the first two elements which were:
- 1. Having a Lead Capture Page with a free high value offer.
- 2. Having a high converting low cost offer immediately after opt in
With those two pieces of your marketing funnel in place, you should initially begin to recoup some of your financial outlay. There is a cost to running a business and don't let anyone tell you any different. Sure there are multiple free strategies but in the end they're just not as scalable, predictable, or dependable in the long term.
My objective is to give you specifics in marketing. Not the pie in the sky non sense that so many newbie marketers espouse to. It's not as simple as throwing up a website and start making money. It's a skill that must be developed and the sooner you learn that, the quicker you will begin to have success.
Your business plan must be known in advance of you spending any of your hard earned money. Business Plan you ask? Emphatically yes! If you don't know where you're going, you're subject to follow any body who flashes the most attractive business opportunity or shiny object in front of you. Now you're off in another direction with no success, but complete and total failure.
This is the very reason I wanted you to know the 5 components to running a successful online business. Without these, you'll find yourself chasing your tale longer than you anticipate.
Ok, while we're on that subject, let's get into the third element of our components.
As I mentioned to you, the second element was just to offset some of your cost up front, but you need yet an additional offer that complements your first one. I say complement, not take away from. I'll give you an example in a moment.
Let me say this while we're on the topic. By no means should you offer a product on the front end and then on your first immediate upsell, you're attempting to get your buyer to get something that you promised in your initial offer.
That my friend is not a good way to conduct business. Always deliver on your promise of what you mentioned your initial product would do. Now if you have a complimentary product that does additional features, then by all means, that's fair game.
So what just happened in that previous transaction? You offered an immediate UPSELL. An additional product that will continue to bring value to your customer that they could take advantage of if they so choose to.
Immediate Upsells....Component #3
Here's an example: Let's just say you have an Ebook that you're selling for $x.xx. It's a rather lengthy piece of material and for some people that's cool, but others they may not be so prone to read a lot of material, so you're complementary product could be a video covering the same material.
That video will complement your product, but will not take away from what your original intent was for your product and the customer did not get cheated out of what you promised. They knew up front that they were buying an Ebook. You delivered.
Now you're just giving them an opportunity to the same information delivered in a different fashion. No harm, no foul.
Immediate upsells are a part of life and something that we experience every day. Especially when we go to fast food establishments. Take McDonalds for example. When you order a meal, let's just say it's a burger, fries, and a drink, they will ask on occasions if you would like to super size it.
Well, what just happened to you was an upsell. They are giving you the same thing you ordered up front, but now it's more of it. Immediate upsells should be offered while the customer is in the "buying" mode. Remember, a buyer is a buyer is a buyer. You keep offering until they customer stops buying.
This one component will be responsible for keeping your business at a break even or slightly above profit point. In the next component, we will share the fourth aspect that will take you over the top and beyond to creating a lucrative and very prosperous online business from home.
- 1. Lead Capture Page with Free Offer
- 2. High Converting Front End Offer
- 3. Offer Immediate Upsells after initial offer that is complimentary
Any questions? Please feel free to drop me a question or comment below. This is how we're able to continue to provide relevant and helpful content for you.
all the best,