Is the One Time Offer the Best Strategy?
I’ve been around Internet Marketing for a long time now. I’ve purchased thousands of dollars worth of programs and services and seen MANY one time offers. There’s a psychology to them. And it obviously works because MANY Internet Marketers use them. Many of the affiliate programs have it built right in so that you can add your One Time Offer to the check out process. I think I even have one on our Instagram Training!! We have an upsell to a video training program.
The idea behind having a OTO is that you have the person right there EXCITED about what they are buying and it is the BEST time to upsell them on more. Usually, a OTO is an add-on to what you are already buying — so, more of something — more features, more leads, more coaching — MORE!
And when the person opts into the OTO because they believe they will NEVER see the offer again — then you have made more money!! And that’s good — right? But what IF they would buy your OTO later? Are you leaving money behind because you do not offer the OTO on the backend? Could you offer it at a slightly higher price and still feel in alignment with what you said on the OTO page? I think you are losing money!
There are times when I do not buy the OTO for a variety of reasons. Sometimes its money — I don’t want to spend more money at that moment. Sometimes I don’t understand the value of the offer but after I have used the product I purchased I see WHY I really should be buying the OTO but now I can’t find it. Sometimes its just timing.
I see many marketers that will not sell that OTO later. And I personally find it frustrating!!
To the point that it has changed my mind on how I market my own business. Yes, I have a couple of OTOs but they are available after the fact as well. Maybe I shouldn’t be telling the world that!! BUT, I think its important for people to have that chance to review and use the initial offering and then if they see that they want the video upgrade for example, they can access it.
If they don’t, then that’s fine too!
Let’s play with the numbers:
Say you have an upfront offer of an e-book or special report for $7 and you sell 100 of them. Nice — $700, that feels great! Right?
With that report or book you have a OTO of additional training for $27 and you convert 5% on your OTO — that’s $135, but what if there was an additional 20% that wants it after the fact — that’s 20 more sales at $27 or $540. Potentially, after I have made my first sale to the client and started building rapport, relationship and expert status — they think –“oh, I really need that additional resource that Donna showed me” but they can’t get it. I’ve left $540 on the table because of my strict OTO policy — never see it again. Is is really serving you? Let’s say that the conversion wasn’t the high 20% but just another 5% — that’s still $135 on the table.
Its worth evaluating whether the OTO works totally. Yes, show it right during the check out or after the check out. yes, try to make the sale right then. CHANGE your wording to eliminate the total OTO lingo. or add an additional fee once inside! But they are now your customer and you do want to treat them well.
What have you found with Internet Marketers and their One Time Offers? How have they made YOU feel?
Donna Price is a strategist, working with entrepreneurs to increase profits using the 7 Profitability Accelerators. Create your system for success.