If sales are slowing, or you just want to run a special deal for a joint venture partner or your e-mail subscribers, think twice before cutting down the price. I know reducing the price is the first thing that comes to mind when you think “deal” … but there are three things you can do very easily to enhance your offer without cheapening the value of your product. You can record a video demo, chunk out a piece of your product for a downsell, or create a continuity backend.
Something that has really helped my conversion rates is a quick demo of my product in action. Most people do not enjoy reading, so if you have a video on your page, your visitors will prefer to read that instead of reading a long boring sales letter. I prefer to mix the two, so people can watch the view to get the basis of the product, then skim around for benefit points. It does not have to be fancy or perfect, just three minutes of you installing the script or using the most important technique in the infoproduct is fine. You can place this video or one or all of these places: the sales letter, the download page, and within the product itself. Just three minutes makes for an excellent bonus.
If you are still worried that your price is too high and that people will not buy, consider taking out a chunk of your product and offering it for sale as a downsell. Let’s say you had a $97 product about traffic generation but you were worried it was too high. Take out one of the modules, for example, traffic from articles, and sell that on its own for $17. If people try to leave the $97 page, show a pop-up offering the stripped down $17 product, and once they buy, try to get them to upgrade for the remaining $80. You’d be amazed how often this works.
Speaking of splitting up a product, another excellent way to increase your profits from a product is to offer a backend. This can be a high-ticket item but preferably it’s some kind of recurring income. Promoting someone else’s continuity offer as an affiliate is the easiest way to do it, but recurring products tend to pay low commissions… but if you sell it on the thank you page after someone has already bought your product, even a couple of sales from the affiliate backend means more money for you.
If you don’t want to go the affiliate route and you can think of a couple extra tips or “volume two” of the product, split it out into weekly installments. Membership sites do not have to continue on forever! There is nothing wrong with a membership site that only lasts 3 or 4 months. Many of your customers will pay $17 for 4 months instead of a $68 onetime payment simply because it fits their budget. Once you get a membership site going you can also toss in extra goodies like a forum, affiliate program, and one dollar trials.
Those are some simple ways to enhance your offer: a demo video, downsell chunk, or recurring backend… maybe even all three!