Loading How to Make More Money Without Having to Bring in More Leads
Research shows that approximately 20% of most markets will almost always buy the highest level of service or product you have available.
So the question you need to ask yourself is this:
Are you offering multiple options for people to buy with? If you are not, you are losing money.
In other words, you need to have 2 different prices, that include 2 different options for people to buy. For every sale that takes place you are losing money if you do not have this in place.
Now notice the important things here.
- You are not adding any clients.
- You are not creating a complex situation.
- You are simply creating two different options for people to buy.
Option A and Option B
If there are these two options then several things happen. In addition to increasing your average transaction size because a percentage of people will choose the higher version, you will also get more people to convert overall, since there are two options.
Does this make sense?
Your customers will be making a choice no matter what. If you do not provide them with another buying option then their choice will be Yes or No. That is a 50/50 chance of them saying No. If you provide them with another buying option their choices will be Yes Option A, Yes Option B, or No.
That takes the chance of them saying no down to a 33% chance. Much better odds, don’t you think?
Not to mention that if there is only one option to buy, and 30% of people buy it, then you are only capturing 30% of the market.
However, if there are two options to buy, and 33% of people buy 1 of the 2 options, you’ve increased your sales, for very little work, by a margin of 10%.
It is some of the easiest and quickest work you can do.
So I ask you this. Do you have 2 different options?
Until next time,
Matt and Sarah