I'm going to share with you an important strategy that can improve your chances of succeeding online: Diversifying your line of products and services around a common theme. The fact is, you are less likely to succeed when you market one (or just a few) products and services. Even if you happen to stumble across one of those relatively rare items that is enormously successful on its own, you can still benefit by diversifying and expanding your product line. Consider several reasons 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
average order amount.
Offering prospects and customers a variety of things to purchase from you also makes it more likely they'll purchase multiple items, thereby increasing
average amount of profit per order.
A Note of Caution: Diversity can confuse prospects in some cases, so it would be wise to test in order to find which approach works best in your circumstances. Some marketers find it better to initially focus on making one sale without any other offers that might confuse a prospect, and following up with related offers at a later time.
* Diversity helps you take maximum advantage of
lifetime value or your customers.
Many marketers are content to sell one thing to a customer, one time, and forget about that customer forever, only to continue their quest for new customers elsewhere. However, such a strategy overlooks lucrative profits available through additional sales to existing customers.
The best customer is one that already trusts you, and is satisfied with previous dealings with your company. Since people prefer to do business with those they know and trust, additional sales to existing customers meet with less sales resistance.
You've invested precious resources to acquire your customers, and likely had to overcome a bit of initial distrust when they first bought from your company. If you keep delivering them solid value through related offers, and keep them satisfied through good customer service, many will be glad to buy from you again and again.