This part can get complicated, if you let it. Start with one small thing at a time.
Nancy still has her $597 video self-study course, which she now sells at $647 with a $97 upsell.
Nancy is going to write a simple e-book outlining that video course. So, teaching the same thing, only in a PDF format.
She is going to sell this product for $17.
Then, she is going to have a series of cheat sheets and templates, which cover the same content in the video course, which she will sell for $27 during a 4 day sale, then another 4 days at $47, then another 4 days at $67 and then, finally, it will go to full price.
This is called a thank you sale. I won’t get into the details of how to baby sit this sale…but you can outsource it to automate it.
So, if we kept it simple, let’s say someone purchases her e-book at $17, her templates at $27, her video course at $647 and her upsell at $97.
One customer equates to $788 in gross revenue, instead of the original $597.
To keep it REAL simple. Let’s say only 100 customers, over 10 months did this from ONE of Nancy’s product lines.
That’s $78,800 compared to $59,700.
Across 15 product lines (which she would multiply one after the other, working on one funnel at a time)…
… $1,182,000 compared to $895,500
Can you see why, simple, incremental increases in prices with an upsell and then multiply profits through relevant lower ticket products is important.
This doesn’t even take into consideration…
- high ticket products
- Compounding her revenue through advertising
- Increased profits from her ads which, in turn equates to more ad spend, more leads and more sales.
As you can see, the Profit Multiplier, Simple Upsells and Incremental Price increases of just 8% can be HUGE to your bottom line.