by: Tony L. Callahan
Case in point: How many of us have purchased an upgrade to Windows, Excel, Word or Office? In fact, how many of us have not purchased multiple upgrades to each of these products? The truth of the matter is, Microsoft make more money from the sale of upgrades than they do from selling new versions of the products. And as long as they continue to make upgrades, people will continue to purchase them.
This is an example of what is called residual income. Purchases made after the initial sale can provide a continuous and growing source of income. So how can you provide a residual income from your product or service?
To create a residual income you must create follow on sales. Follow on selling is based on the idea that it is easier to sell to an existing customers than it is to get new customers. This is not a difficult concept but a large number of Internet marketers seem to overlook it completely.
How do you go about generating follow on sales? First you must evaluate your product line. Identify the products that are natural compliments of one another. A good example of this would be a wine store that also carries a good selection of cheeses. Customers come to the store to buy the wine but will frequently purchase cheese to accompany their selection. If your product line lacks complimentary products, now might be a good time to add some.
The key to follow on sales is subtlety. Don't beat your customer over the head with follow on selling. No one likes to feel like they are being sold but few mind a helpful suggestion here and there. The most effective follow on sales are made when the customer thinks the purchase was their idea.
Some ideas for effective follow on selling:
Copyright 2000, 2002 Tony L. Callahan All Rights Reserved
our sponsors. Visiting our sponsors allows us to provide the
valuable information on these pages at no cost to you.
Copyright © 2001-2015 Mortgage Marketing Online. All rights reserved. The Mortgage Marketing Online Web Site
is designed, maintained, hosted, owned and provided by Click1003 and Daily Sales Record. Text, graphics,
scripts, programs and HTML code and contents are protected by US and international Copyright Laws, and
may not be copied, reprinted, published, translated, transposed, hosted or otherwise distributed by any
means without the express permission of Click1003 or the contributing authors presented on this site.
For content reproduction or advertising information, contact Doug Perry at 800-398-0504.