What
we can all learn about marketing from the WWF!
(C) 2000 By Andy Brocklehurst.
Wrestling? Hmmm,
you either love it or hate it, and you either believe it could be real
or that it's all made up (it is all made up).
Either way there is
something that we can all learn from the WWF when it comes to selling
our products.
The WWF runs a series
of shows on Cable TV that people can watch every week. The WWF obviously
gets paid for their shows but they use an age-old marketing technique
to really make the big money - They 'Up-sell'.
Even if you hate wrestling,
if you live in the US and have cable TV, do yourself a favor and put up
with watching 30 minutes of one of their shows. In that 30 minutes you'll
see that they really are using that show (which they are being paid for)
to promote their Pay-per view shows.
The WWF has one pay-per
view event a month now and the price tag on them is around $40. That's
what most people pay a month for their cable service, and the WWF through
it's upselling gets the same people to spend that much money to watch
a single 2 or 3 hour event.
HOW DOES THIS APPLY
TO YOU? Think of this... You have a great product which you sell with
a low ticket price. Let's say $12 - $17. That product is an info-product
like an e-book. That e-book gives fantastic value and lots of quality
information. But you also have an even more advanced product which you
sell for $70. In the low cost product from time to time (don't over-do
it) there is a mention of your advanced product.
It is a known fact
that someone who has bought from you before Although you have got paid
for the low cost product, it acts as a vehicle to up-sell to your higher
end product which really brings in the money. I have seen this work incredibly
well for many people. One person I came across sells the initial product
for just $7. That product is easily worth a lot more (I would say around
$30), but the low price tag and rock solid money back guarantee really
pulls in orders at $7 a time. He probably only makes about $4 profit on
each sale after admin costs, credit card handling fees and production
costs.
But the Coupled with
the follow-up letters that get sent out, this method pulls in hundreds
of orders a month. But it does not end there... As I just mentioned -
once you have a customer they are a hot prospect for anything else you
sell.
Think of all the spin-off
sales that the WWF profits from, all of which get promoted on those free
broadcasts. They make money from every computer game, t-shirt, and video
that is sold. They make money from tickets sold for live events. Basically
they use their networked TV show which viewers get for free to sell all
the high profit stuff. And the great thing is that they make a bundle
just for putting out the 'free' show because they get paid for it by sponsors
and the show is sold to the TV networks.
Could you be selling
more if you first offered a low-cost product and used it to up-sell?
A THREE STEP APPROACH
Another common variation is to get the big orders using a three step approach.
The three steps are;
1) Give away a free
product that upsells to...
2) A low cost product ($5 - $20) that upsells to...
3) A high end product that sells for $40 - $Sky's the limit!
Just remember, all
the products need to provide good value to the reader, even the free one.
If the free one is nothing but one huge ad for the 2nd product it won't
work anywhere near as well as it would if it gave great information at
the same time as up-selling.
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You are free to use
this article as long as this
resource box is included. (C)2000 Andy Brocklehurst.
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