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Creating and Selling Your Products and Services

Posted on 23. Oct, 2012 by Faye Bond in Blog, Books, Internet Marketing, Online Business, Website

Creating and Selling Your Products and Services
 

If you don’t know what marketing is then now is a good time to get acquainted with the term. Marketing is all about creating value, and then dropping price to a point where there is a distinct chasm between the two. If you want to sell more of your products and services, it’s critical that you learn how to create value.

And there are times where you will have to create value from out of thin air. One example of this is if you are an information product seller. Information products are simply CD’s, physical books, ebooks, manuals, DVD’s, newsletters… and any type of informational and instructional product of some sort. In this business there is more than enough opportunities where you can create value for your product.
 

But if you own a brick and mortar business, how can you create value for your products? It’s simple: bundling. Bundle all of your slow-selling items and offer it at a price that is too good to pass up. You could also take this bundle and offer it as a bonus with your top selling products. Many business owners who do this find themselves selling products that they wouldn’t have normally sold if they didn’t create the bundle.

It doesn’t matter what kind of business you’re in, you can still create value from any type of products or service that you have. A good bundle and bonus offer can incite action in on-lookers who wouldn’t have normally bought your products.

So now let’s talk about how to put together a marketing strategy for your business. The absolute immediate thing that you will want to do is to focus more of your marketing efforts on your current customers and clients. This is called back-end selling. Back-end selling simply means that you’re selling to your existing clients, and that you don’t have to incur a customer acquisition cost when marketing to these groups of people.

If you’re not selling more of your products to your existing customers, you’re making a huge mistake. 80% of your business profits will come from sales from this group of people. Eventually you want to become so good in your business that you’ll want to know how much each new customer is worth to you.

I know of some marketers whose lifetime customer value is somewhere in the $5,000 range. So if on average a typical customer is worth $5,000 to you, you can afford to go negative on the initial sale because this 1 customer can potentially be worth thousands of dollars to you. I always make it a point to focus on selling to my existing customers, and I suggest you do the same also.

Hopefully you’re using a variety of marketing and selling techniques to get the word out about your business. If you’re not, then I think you’re making a mistake. Let your ads and other marketing pieces run on autopilot. Focus more on getting referrals from your customers and be there for help if they need you. This is your profit center, so treat these groups of people like gold.
 

Faye Bond

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Tags: book, books, business, Business Start-Up, Internet, Internet Marketing, Marketing, Online Business

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