Generating,Multiple,Income,Str marketing Generating Multiple Income Streams
Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie
I'm going to share with you an important strategy that canimprove your chances of succeeding online: Diversifying yourline of products and services around a common theme. The fact is, you are less likely to succeed when you marketone (or just a few) products and services. Even if you happento stumble across one of those relatively rare items that isenormously successful on its own, you can still benefit bydiversifying and expanding your product line. Consider severalreasons this is true:* Diversity gives your prospects more choices.When you offer a variety of related products and services,prospects are more likely to find something they want to buy. * Diversity increases the average order amount.Offering prospects and customers a variety of things topurchase from you also makes it more likely they'll purchasemultiple items, thereby increasing the average amount of profitper order.A Note of Caution: Diversity can confuse prospects in somecases, so it would be wise to test in order to find whichapproach works best in your circumstances. Some marketers findit better to initially focus on making one sale without anyother offers that might confuse a prospect, and following upwith related offers at a later time.* Diversity helps you take maximum advantage of the lifetimevalue or your customers.Many marketers are content to sell one thing to a customer,one time, and forget about that customer forever, only tocontinue their quest for new customers elsewhere. However, such a strategy overlooks lucrative profits available throughadditional sales to existing customers.The best customer is one that already trusts you, and issatisfied with previous dealings with your company. Sincepeople prefer to do business with those they know and trust,additional sales to existing customers meet with less salesresistance.You've invested precious resources to acquire your customers,and likely had to overcome a bit of initial distrust when theyfirst bought from your company. If you keep delivering themsolid value through related offers, and keep them satisfiedthrough good customer service, many will be glad to buy fromyou again and again.* Diversity reduces marketing and fulfillment costs.Reflect on the following ways that diversity reduces marketingand fulfillment costs:o Many marketing costs are the same (or nearly so) whether you promote one product or several. Per-item marketing expenses are reduced as each new product or service is added to your line, because each shares the marketing costs with all the others.o No customer acquisition cost is involved in selling to existing customers, making such sales more profitable than initial sales.o Processing an order for multiple items involves nearly the same amount of labor costs as a single-item order.o Per-item shipping costs are reduced when you ship a multiple- item order in the same shipment.* Diversity reduces business risk.If you diversify your line instead of putting all your eggs inone basket, a dip in sales in one area of your business (due toseasonal variations or other reasons) will have less of animpact. You won't be totally dependent on a single incomestream.All too often, entrepreneurs that recognize the value ofdiversity tend to promote a disconnected mixture of totallyunrelated goods. However, the real benefits of diversity comefrom expanding your line of offers around a common theme.A Proven Way To Diversify RapidlyI always recommend that you market at least one of your owncore products or services that that you have exclusive controlover. However, acquiring or developing your own productsusually take time. One way to diversify rapidly is by reselling quality productsor services of other suppliers. These should be related to thespecific interests of your existing clients and prospects.You could set up drop shipping arrangements with suppliers, orjoin affiliate programs, which are the online equivalent ofdrop shipping, without many of the usual hassles involved. In short, once you've struck "Internet gold" with oneprofitable product or service, you can extract more gold fromthe same mine shaft, so to speak, by diversifying and expandingyour line of products and services around your chosen theme. Article Tags: Diversity Reduces
Generating,Multiple,Income,Str