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eMetrix at SIC: Increasing Online Sales

Posted in eMetrix on the July 20th, 2006

David Halls of Emetrix made a presentation on Increasing Online Sales. He mentioned some simple, yet very effective ways to maximize your marketing efforts. The following are some marketing ideas and concepts shared by Emetrix this year at the Annual Shareware Industry Conference.

Charge for Upgrades!

It has been a popular idea to offer “free lifetime upgrades”, but this can be bad for business. Charging for upgrades provides a continual source of revenue for your business. Also, studies have shown that customers often find more value in a product for which they are required to pay. One major upgrade release per year seems to be ideal.

Don’t miss out on Up-sell opportunities!

Up-sells have an amazing conversion rate, 75% on average! If a customer is purchasing the standard version, up-sell them to the pro version, if they are purchasing one product, offer them a bundle that includes their chosen product. Some up-sell offers can more than triple a customer’s total. (data courtesy of Esellerate)
of Esellerate).

Current Customer Base

This is a very valuable and often neglected opportunity. Past buyers are 7 times more likely to buy from you than a new prospect. In email campaigns, past customers are 30 times more likely to buy than a new prospect. It is a very good idea to make sure that the “subscribe” box is always checked on your order forms.

Make sure that you don’t miss out on opportunities to make your product and webpage as powerful as possible. The small extra projects and add-ons that you think might bring extra revenue, but haven’t had time to finish, may make the difference between the success or failure of your business.