How to Almost Instantly Double, Triple and Even Quadruple
Your Sales Conversion! Part 2
by Dan Lok
Published on this site: March 10th, 2006 - See
more articles from this month
It's true.
A good example of a successful premium (free bonus) was in
the Ginsu knife infomercials. If you're familiar with the
old Ginsu knife infomercials... you will remember how they'd
use the "pile-on-technique" to get you to order.
Can you remember, it went something like this...
"But wait, that's not all! If you order immediately...
you'll not only receive the entire 36-piece set of Ginsu knives,
I'll also send you a second set absolutely free. And, you
still get the free steak knife, the free cutting board...
and... etc., etc., etc."
Anyhow, the reason they did this... and the reason just about
every infomercial uses the "pile-on-technique" is
this: It works!
But the lesson here is: Whatever your product or service
is, you should always include free bonuses to increase the
perceived value of your offer and increase your sales and
profit margins. Just use your imagination and I'm sure you
can think of quite a number of ways to use high-perceived
value premiums.
By the way, marketing wizard, Jay Abraham is the master at
using the "pile-on-technique" to get people to buy.
If you buy any of his stuff (which I highly commend) you'll
be on the receiving end of a first-class education in how
to use the "pile-on-technique". He'll sell a $5,000
seminar and "pile-on" over $10,000 worth of premiums
if you sign up for the seminar.
Anyhow, if you're not already, I suggest you use the "pile-on-technique"
to boost your sales and profit margins. And the key to doing
that by getting the prospect thinking: "Wow! I get all
that valuable stuff free? Damn, I'd have to be a moron not
to get in on that offer!"
Look: You shouldn't just aim to satisfy your customers. You
should aim to astonish them! And the easiest way to astonish
the customer is to deliver more than they pay for.
A few other important points to remember to successfully
boost your sales using premiums (free bonuses):
- Always quantify the value of each premium (free bonus),
both in real terms and perceived value. For example, you
may offer a free bonus report that has a real price of $49.97...
but... in the right hands could make somebody $10,000. Make
damn sure you sell and educate the prospect about what you're
doing for them. Don't give away $1,000 worth of free stuff
without making sure the prospect knows exactly what you've
just done for them!
- With already touched on this but it's worth mentioning
again: Your premium(s) must be desirable, of good quality,
and have a high perceived that enhances the overall value
of your main product. If you give away junk... not only
will it not have any positive impact on your sales... in
all likelihood it'll backfire on you and hurt your sales.
- You can (and should) use premiums as a compel prospects
to act fast and order your product or service right away.
Maybe you've got a limited number of premiums you can give
away. Maybe there's a time-deadline on your premium offer.
You get the idea. This is a scarcity tactic and the more
a prospect feels that there's a very real chance that if
they stall they're going to miss out on possessing the premium(s)...
the faster they're likely to order!
- As a general rule of thumb, offering 3 - 5 premiums is
optimal. Offering too many premiums (say 10 - 12) sends
up a "red flag" in the prospects mind because
they start thinking to themselves, "Gee, if they're
giving away all those free bonuses I guess they're a bit
embarrassed about the quality / price of the main product."
Too many premiums are overkill - it will backfire on your
sales conversion.
- The very best low-cost / high-perceived value premium
is Information. For example, it costs next to nothing
to create a simple report / CD / DVD etc.,... yet... the
information itself can be immensely value... maybe even
life-changing!
Okay, that about wraps up this article.
If you're not using and capatilizing on proven power of premiums...
shame on you!
Till next time.
Dan Lok
Dan Lok is widely known as "The World's #1 Website Conversion
Expert!" But what do you care? Well, if you rush over
to his site... I think you'll come to your own conclusion
that he's the real deal when you see how much free(yet extremely
valuable!) profit-producing info he's giving away. Check it
out now at: http://www.WebsiteConversionExpert.com
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