Get Repeat Customers - Don't Rely on the Sale of Just One Product

Date: 2008-11-19 20:38:27

By Bret Ridgway

If you have been involved in marketing for any length of time you have probably heard that the person most likely to buy from you is someone who has purchased before. This is so true. But if you have only one product to sell a customer you have reached the end of that revenue stream quickly unless it is some type of recurring billing product.

I see a lot of information marketers who develop a single product for a market niche. Then they immediately go to another market niche and develop a product for that niche and so on and so forth. While I am not against playing in multiple markets, I am against having only one product for each niche you are working in.

When you are always trying to get a new customer (since you have no repeat business), your cost of sale is higher. When you have a second and third and fourth product aimed at the same niche, your marketing costs for each additional product you are selling to that niche are effectively zero. It is simply a matter of emailing your customer list another offer they can take advantage of.

About a dozen years ago, I was involved in the development of a training CD for the plant engineering and maintenance market. The CD was on a highly technical topic. If memory serves me correctly, it was titled "The Rolling Bearings Troubleshooter's Guide." It was decided that the product would be marketed via the web.

I knew that one product would not make a company. So I negotiated deals with several technical publishers and other training developers for related books and training CDs that would be of interest to the same folks who had purchased the Rolling Bearings CD. A website was created and several millions of dollars worth of products have been sold via that site over the last 12 years.

The additional products you have to offer a market don't even have to be your own product(s). You can offer related products from people that on the surface may appear to be competitors of yours. Find products on ClickBank that you can sell to your list.

People are thirsty for knowledge and many will purchase almost everything they find on a certain subject. If you have only one product to sell them you are leaving a lot of money on the table. Don't close the door to repeat business.


Author

Bret Ridgway is co-founder of Speaker Fulfillment Services, a company dedicated to helping information marketers. To pick up your own copy of his "New Information Product Development and Launch Checklist" visit http://www.50BiggestMistakes.com.. This articles came from MoreArticles.net.


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