Welcome back…
Surely, you checked out Lever 1 and getting more exposure to your business: Lever 1
You’ve come up with some ideas to get those people to buy at a higher rate: Lever 2
Lever 3 To Grow Any Business
This method relates to earning more per customer. It happens mainly through:
1.) Getting customers to buy more products more often
This happens by using those email follow ups to send a promo, your product, or another product. You can also create new products and promote them to existing customers.
2.) Using bundles, subscriptions, upsells, and cross sells to create a higher average order value
This is simply giving customers an option to buy a bundle of multiple products or a higher quantity at discount (they can be your products or related partner’s products). It can also be having them enroll in a month to month subscription. This works great for health or beauty types of products where they are going to need new product every so often.
It’s a no brainer for ecommerce…You can double average order value by offering 3 for the price of 2 and 6 for the price of 4 instead of 1. Or if they get on a subscription and stay on for 6 months on average, you just earned 6x for selling the customer once.
How about for addiction recovery? Here’s what I did for Monarch Recovery…
They were treating addiction, but one aspect of addiction is depression. So, I asked if they could treat depression as it’s own service.
Yes, the could, so what that meant was…
Now, they can offer a whole new service to their existing client base, and to new clients increasing the revenue per client and giving them a new possible front end clientele.
It feels like magic when you start using this method…
It’s really about offering more value to your customers with giving them a better deal or by showing them other products and services that they may be interested in or that can benefit them.
If you use all 3 levers, you are going to see exponential growth!
To your success,
J White
