Jay Abraham has a formula that scales a business wonderfully.
In essence, all you need to do is:
- Get more customers
- Increase the average order value
- Get them to buy more often
Now, today, I’m going to share with you one of the biggest drivers for increasing AOV (Step #2) that I’ve discovered over the past year.
When most entrepreneurs try to maximize their AOV, they try to create these long upsell pages that take a long time to write…
While this is an absolutely surefire way to increase your AOV, I found that there is a much quicker and easier way to do it.
So if I need to increase the AOV of an offer I’m bringing to market, the first thing I’ll do is what I’m about to share with you.
This strategy consistently increases AOV by up to 50% (depending on the cost of the original product), and I’ve tested it myself and with my clients in various industries.
I call these strategic product extensions.
Now, to be clear, this strategy isn’t new and you’ve probably seen it in action before…
But I put a different spin on it and it works very reliably…
It still shocks me how many entrepreneurs aren’t using it – and that’s why I’m sharing it with you today.
The technology you use to sell your product extensions is called pump orders, and it goes something like this:
You can add a pump order (or, if your technology allows, two pump orders) to your checkout page (usually using a plugin or an existing feature in your billing software)…
But when you do, here’s the “trick”.
Your pump orders should be an extension of your original product.
I’ve found two types of product extensions work better than other options:
- More like: It’s the simplest stretch you can do and the most obvious – sell X extra workouts / copywriting tips / yoga videos / workout bands / guitar lessons
- Done for you: A concrete offering based on your original product, such as a checklist, template or cheat sheet, is easy and quick and helps your customers get quick results.
Your product extensions will follow very closely The value equationThe best.
In fact, what you’re doing here is that you’re taking your original product…
Extend it with a hassle-free extra offer to add to your order to help your customers get better/faster results.
Now, we’ve done a lot of testing with different copy and formatting for product extensions, and we’ve found that in this case even big copy differences don’t really make a big difference in conversion…
If you read my blog post, this makes sense Development Hierarchy.
It’s the actual offer you’re selling that makes the biggest difference, and that’s what you need to focus on.
As long as your copy clearly describes the product you’re selling…
As long as you combine it with a dreamy effect that people love…
Unless you’re trying to be too clever or too fancy…
Your offer will work.
So don’t overthink this step.
If you’re not already using product extensions in your funnels, create them for your next release…
Get the tech you need to set them up…
And see for yourself what kind of impact they can have on your business.
You’ll be surprised to find that these “quick and easy” upsells can outperform the long-term upsells you’ve tried in the past…
Unlock a brand new way to help increase the profitability of your startups (or profitably increase your offering to reach more customers).
Go ahead, give it a shot and I’ll talk to you soon.
bustle,
– Primos