Tags |
|
|
Links |
|
|
Will You Add? - How The Right Online Ordering System Can Add An Additional 40% To Your Bottom Line
Like every beginner, I have thought you could beat, pummel and thrash an idea into existence. Under such treatment, of course, any decent idea folds up its paws, turns on its back, fixes its eyes on eternity, and dies.- Ray BradburyThis is a key rule; create a contract with your subordinate that simply says: Your subordinates get the credit when things go well and you will take all the blame when things go wrong. The main reason subordinates will not take risks is that they are hung out to dry when things go wrong or someone else takes the credit when things go right.To help your subordinates develop their leadership skills to the fullest potential you must delegate duties and assignments in greater degrees of complexity. Leaders are developed best through experiential projects or assignm
So now you may be saying that’s all well and good for McDonalds but I am in a totally different business. I don’t sell fast food.
Guess what? Upselling is a sales technique that can work for any business.
And the best part is, if you are selling online, you don’t have to train staff like McDonalds does in order to get them to remember to present an upsell to every single customer who walks in
If you are not using flyers in your business you are missing out. Flyers can be used to sell your product, promote your product, promote your services, and in a number of other areas. Our lease purchasing students learn very quickly the importance of using flyers. Flyers, however, are not exclusive to lease purchasing. They are useful in almost every business I can think of. I’m sure there might be a business out there they don’t work for, but I can’t think of one. To give you an idea of how we use them in lease purchasing. We use them after we get a property, by making up a flyer with the property characteristics, along with what we are asking for the property and the terms. We will place these flyers in various areas around the property, and we also use them to market in a number of other ar
You may have had other, more intangible reasons, ranging from philanthropical to personal but lets be brutally honest with ourselves for a second: on the most base level, the main goal of a business is to earn income for its owners.
I think we need to run this like a 12 step meeting:
My name is Marc Goldman and I am a business owner who is out to make money with my business. (whew that felt good)
So, with that off my chest, lets begin our meeting.
Since my goal is to have my business produce substantial and lasting profits, I am constantly on the lookout for new and improved ways to add more income to the balance sheet.
We have tried and tested many different ideas, techniques and strategies to increase our cashflow and without a doubt, there is one method above all others that we have discovered to increase our sales:
Adding upsells to our order form.
That’s right, regardless of all the different traffic techniques in the world, even with proven sales copy and conversion methods in place, even with years of studying and applying various direct and indirect marketing approaches, the one thing I have found that brings in the most money to our company is the ability to upsell each individual customer on an additional item they did NOT intend to originally purchase.
For those of you who may be unfamiliar with the term “upsell”, let me use an example from one of the world’s most famous companies to illustrate the point:
When people walk into fast food giant McDonalds to order a simple hamburger or a Vanilla shake, without fail they are presented with the phrase that has helped this company to dominate the fast food market:
“Would you like fries with that?”
Other fast food outlets will ask you, "Would you like a drink or an apple pie with your meal?" This is another very effective example of an upsell.
These fast food giants sell millions of dollars worth of extra food and drinks worldwide every year, because they know how to effectively use an upsell.
So now you may be saying that’s all well and good for McDonalds but I am in a totally different business. I don’t sell fast food.
Guess what? Upselling is a sales technique that can work for any business.
And the best part is, if you are selling online, you don’t have to train staff like McDonalds does in order to get them to remember to present an upsell to every single customer who walks in
Whether you presently own a retail or web based business and are looking for an additional profit center or you are thinking of starting a business, jewelry is a “no-brainer” choice for a proven product category. The buying public, (particularly women) never tires of jewelry as the choices in color, materials, finishes and styles are endless and innovations are continual. Every generation reinvents jewelry for itself in much the same way that it reinvents music and fashion. Styles change but the basic facts remain the same. If you are a seasoned professional, please consider the following a refresher course. To the new comer, use this information as a foundation for your ongoing jewelry education.The Facts About Diamond JewelryAs with other gems, diamond weight usually is stated in carats. Diamond
Since my goal is to have my business produce substantial and lasting profits, I am constantly on the lookout for new and improved ways to add more income to the balance sheet.
We have tried and tested many different ideas, techniques and strategies to increase our cashflow and without a doubt, there is one method above all others that we have discovered to increase our sales:
Adding upsells to our order form.
That’s right, regardless of all the different traffic techniques in the world, even with proven sales copy and conversion methods in place, even with years of studying and applying various direct and indirect marketing approaches, the one thing I have found that brings in the most money to our company is the ability to upsell each individual customer on an additional item they did NOT intend to originally purchase.
For those of you who may be unfamiliar with the term “upsell”, let me use an example from one of the world’s most famous companies to illustrate the point:
When people walk into fast food giant McDonalds to order a simple hamburger or a Vanilla shake, without fail they are presented with the phrase that has helped this company to dominate the fast food market:
“Would you like fries with that?”
Other fast food outlets will ask you, "Would you like a drink or an apple pie with your meal?" This is another very effective example of an upsell.
These fast food giants sell millions of dollars worth of extra food and drinks worldwide every year, because they know how to effectively use an upsell.
So now you may be saying that’s all well and good for McDonalds but I am in a totally different business. I don’t sell fast food.
Guess what? Upselling is a sales technique that can work for any business.
And the best part is, if you are selling online, you don’t have to train staff like McDonalds does in order to get them to remember to present an upsell to every single customer who walks in
How to Take Your Law Firm to the Next Level Third in a series of three articlesSO you’ve done such a good job at bringing in new clients to your firm that you’re swamped with business, your firm is large and growing, and all parts of your marketing system are in place and running smoothly? Congratulations!If you can confidently answer "yes!" to the following metrics, then you’re ready to take your practice to the next level:• Is your firm’s mission perfectly aligned with your market?• Do your marketing efforts create exactly the relationship your customers most want and need?• Are your services well packaged, presented with a What’s In It For Me? punch, and priced at various levels?• Do you know exactly where and how to promote your firm’s services?• Does yo
For those of you who may be unfamiliar with the term “upsell”, let me use an example from one of the world’s most famous companies to illustrate the point:
When people walk into fast food giant McDonalds to order a simple hamburger or a Vanilla shake, without fail they are presented with the phrase that has helped this company to dominate the fast food market:
“Would you like fries with that?”
Other fast food outlets will ask you, "Would you like a drink or an apple pie with your meal?" This is another very effective example of an upsell.
These fast food giants sell millions of dollars worth of extra food and drinks worldwide every year, because they know how to effectively use an upsell.
So now you may be saying that’s all well and good for McDonalds but I am in a totally different business. I don’t sell fast food.
Guess what? Upselling is a sales technique that can work for any business.
And the best part is, if you are selling online, you don’t have to train staff like McDonalds does in order to get them to remember to present an upsell to every single customer who walks in
Security Consultant's Perspective...Regardless of your type of business, size or location, the threat of workplace violence and terrorism is all around us these days. It could involve you, your employees and your business at any time. Protective Measures seem a bit of theatrics yet failure to be vigilant or to exercise due diligence could result in a disaster or a civil suit. I believe protecting the workforce is a never-ending task of vigilance, awareness and training. Protecting the Mail Rooms and educating your workforce is all part of the workplace security process. All employees should be given a security awareness briefing on the topic of handling suspicious pieces of mail and Mail Room Security Procedures.The Mail Room Threat...The handling and processing of incom
When people walk into fast food giant McDonalds to order a simple hamburger or a Vanilla shake, without fail they are presented with the phrase that has helped this company to dominate the fast food market:
“Would you like fries with that?”
Other fast food outlets will ask you, "Would you like a drink or an apple pie with your meal?" This is another very effective example of an upsell.
These fast food giants sell millions of dollars worth of extra food and drinks worldwide every year, because they know how to effectively use an upsell.
So now you may be saying that’s all well and good for McDonalds but I am in a totally different business. I don’t sell fast food.
Guess what? Upselling is a sales technique that can work for any business.
And the best part is, if you are selling online, you don’t have to train staff like McDonalds does in order to get them to remember to present an upsell to every single customer who walks in
Inventory management refers to the process of managing the stocks of finished products, semi-finished products and raw materials by a firm. Inventory management, if done properly, can bring down costs and increase the revenue of a firm.How much one should invest in inventory management? The answer to this question depends on the volume and value of inventory as a percentage of the total assets of a firm. The importance of inventory management varies according to industries. For example, an automobile dealer has very high inventories, sometimes as high as 50 per cent of the total assets, whereas in the hotel industry it may be as low as 2 to 5 per cent.The process of inventory management is a continuous one and there are various kinds of solutions available. It is advisable to employ specialized st
So now you may be saying that’s all well and good for McDonalds but I am in a totally different business. I don’t sell fast food.
Guess what? Upselling is a sales technique that can work for any business.
And the best part is, if you are selling online, you don’t have to train staff like McDonalds does in order to get them to remember to present an upsell to every single customer who walks in the doors.
Our business has been using upsells for the past 7 years to increase the revenue we make from each individual customer (and we don’t sell anything close to fast food, instead we sell software and digital information).
When a potential customer comes to our site, reads our sales material and makes a decision to purchase our software or information products they are then taken to our point of sale (aka checkout or an order form etc).
At this point a customer is always presented with the opportunity to add one or more related products to their order.
That’s a very important point, for an upsell to be most effective; it has to be related to the current order.
Could you imagine if McDonalds offered you a gallon of gasoline instead of a side order of fries?
Or perhaps a tennis racket?
It just wouldn’t sell.
But the idea of purchasing additional related products makes sense to the customer so the overwhelming majority of them, when presented with an upsell, will take advantage of it.
The reason upsells work has to do with human psychology. You see, when we as human beings make a decision to buy, it’s usually an impulse driven one fed by emotions. So, once you as the seller have pushed that button to buy, you can easily increase your revenue from each individual sale by simply asking the customer to buy more.
So does it work for us, in an industry that has nothing to do with food?
You bet it does. Upselling accounts for increased revenues of 40% a week on average.
And because we have everything set up to be automated and managed by our shopping cart system, we don’t have to employ additional staff (let alone train them), nor do we have to manage this to make sure its working right.
We just set it up ONCE and then let it constantly add to our bottom line profits week after week.
So how can you do the same thing for your business?
Assuming you sell products or services online here is an easy
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.atriclecheck.com/article/37808/atriclecheck-How-The-Right-Online-Ordering-System-Can-Add-An-Additional-40-To-Your-Bottom-Line.html">How The Right Online Ordering System Can Add An Additional 40% To Your Bottom Line</a>
BB link (for phorums):
[url=http://www.atriclecheck.com/article/37808/atriclecheck-How-The-Right-Online-Ordering-System-Can-Add-An-Additional-40-To-Your-Bottom-Line.html]How The Right Online Ordering System Can Add An Additional 40% To Your Bottom Line[/url]
Related Articles:
Management Diets Don't Deliver
Proven Methods of Marketing Your Business
Bookmark it:
|