1

Increasing Online Sales…or, more affectionately called

How to stick your hand deeper into your customer’s

wallet

2

Get ‘em while you got ‘em

• You spend a tremendous amount of time and money to get a customer to your “Buy Now” page

• Don’t overlook the small opportunities, it is a game of inches

• In fact, failing to maximize the revenue for each customer could lead to the death of your product or business

3

Cross-sells

• On average, 20% of cross-sell offers convert

• If you don’t have a good match for a cross-sell, make one!

• The name of the product you cross-sell can impact your conversion rate

• Don’t be afraid to offer generous discounts for cross-sells– Remember the total lifetime value of a customer

• As part of the offer, tell them that because of their purchase, they “qualify” for a “special” price

4

Up-sells

• A properly designed upsell will convert at 75% on average. Yes - 75%!!

• Standard vs. Pro

• Single Product vs. Product Bundle

• Some offers more than triple the customer’s total, and still convert at more than 50%

• Simple math: $30 product, $60 for the “up-sell” product, 75% conversion rate: Revenue increase of 50%

• Check out an example of a great up-sell implementation at www.mindvision.com

- Data courtesy of eSellerate

5

“Bounceback” Offers

• A bit like a cross-sell, but after the sale

• Can be somewhat technical to configure, some e-commerce providers (such as RegNow) have engines that will do all the work for you

• Bounceback offers convert at about 5%

6

Order Add-ons

• CDs, Extended Download Service, etc.– Most e-commerce services offer these add-ons, will do all the

work, and provide revenue sharing back to you

• Maintenance Agreements / Premium Support– Great for business products, typically priced as a percentage of

the product price

7

Affiliate Sales

• Have you considered becoming an affiliate?– Some of the most successful affiliates are software vendors

• Your products may attract perfectly targeted customers for products you do not offer. Monetize this opportunity!

• There are loads of affiliates that offer commissions of 50% or more

• Your affiliate sales may give you a better understanding of your customers and may help you determine markets you want to enter

8

Upgrades

• CHARGE FOR UPGRADES!!– The somewhat popular “free lifetime upgrade” is bad for business

and can be bad for customers, too

• One major upgrade release per year seems to be ideal– Avoid spring & summer upgrade releases

• Beyond customer purchases, upgrades provide free exposure and promotional opportunities

9

Current Customer Base

• Seems to be the most valuable and unfortunately most neglected opportunity of all

• Past buyers are 7 times more likely to purchase from you than a new prospect

• In email campaigns, past customers are 30 times more likely to purchase than a new prospect– On your order forms, make certain that your “subscribe” box is

pre-checked

• Provide special offers & discounts to past customers– Specify expirations for discounts, but don’t enforce them– Use in-application tools to communicate deals to customers

10

Questions??

David HallsDirector of Development, Emetrix

A Digital River Companyhttp://www.emetrix.com

david@emetrix.com