Welcome to Smart Wealthy Rich!

Todays’ post is geared a little more towards “making money” (don’t worry i left out the John Chow Evilness!) but still has a good dose of “smart“, since this site is titled smartwealthyrich and not just rich.com (though i’d like to have a premium domain like that)! How cool is that? I can write about almost anything and still be on topic! Well it seems like everyone is writing about making money, so why not jump in?

Some will probably say that marketing online is difficult, and some will even say it’s cruel (yeah, i’ve heard that before), some will say it’s impossible to make any decent amount of money. In fact, it all depends on what techniques you use, and some works better than others. Here are some tips that can help pull really healthy profits (yep, more money!).

What Others Are Doing

One thing i found that is sometimes overlooked is cross-selling. Which means offering/suggesting a second product to someone who is already buying something from your site (say you run an online store). Amazon does it, Ebay does it, why not you? Heck, even adult sites do this! No use promoting some affiliate products, if you have to take money out of your own pockets to fund your advertisement (adwords for example), you definitely don’t want to spend $20 to make only $25.

What To Do Then?

It’s actually pretty simple. Let’s say you’re selling a cool software that does this and that (for $50). Someone is ready to buy, you send him/her to your “payment options” page. There, the soon-to-be customer will enter some infos like: adress, name, phone number, and of course credit card infos. Right there, you have the opportunity to make more money, which would fund your advertisement and marketing campaigns!

The guy enters his details, then clicks on “next page” to confirm his order. Why not offer a complementary product ($18), something that is related to what he already agreed to buy. Maybe a book or something, or another software that does this and that, that complements his initial purchase. (remember: batteries not included!)

Do The Maths

Then, if you make, say 100 sales (total revenue: 100 sales X $50 each = $5000), and, out of the 100 people that purchased your software, 20 took the offer and ordered the “cross-promoted” product/item also (20 cross-sales X $18 each = $360).

Oh, profits! No wait!

Now, take the money you made from those 20 cross-sales and re-invest the money in advertisement (adwords or your prefered advertising method), after a while you’ll have enough money to invest in a site redesign, and even more advertising.

And all this for “free”. Provided you can make 100 sales spending $360 on advertisement (your sales pages have to be optimized and convert well). If you cross-promote your products with others (even with affiliate products or ebooks), you can definitely increase your revenues, re-invest the money made on the cross-promoted items, and there you go, free advertisement!

Same goes if you have a mailing list. You can ask people that subscribes to your mailing list to join this other list (business partner).

You certainly have more than only one product/service to offer, so why not cross-promote all your products? Or if you don’t have anything else to sell, affiliate programs are there to help you with that! :)

What do you think? Do you have a product to sell and wonder how you’re gonna get enough money to promote your product? I’d really like to hear your stories, please share your experiences with us as it might benefit my readers and it can benefit you also!

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Tags: Business, Internet, MLM, Marketing, Money, Online Business, Optimization //