MindValley Labs Internet Marketing Blog

It's Day 1 at the conference as I write this.

I arrived a little late due to my plane troubles. But was just able to catch the last 30 minutes of Mike Filsaime's session.

Here's the thing I like about Mike. You can walk in just as he's wrapping up and still find enough juicy nuggets of information to make a big impact on your site profits.

This is the key idea I learned from Mike today.

Learn to Use Other People's Dead Internet Real Estate

What's dead real estate? It's pages on a site that aren't selling. Such as Order Complete Pages, Thank You for Signing Up Pages, Logout Pages, Subscription Success Pages and more.

Most people forget to utilize these pages to boost their site profits.

Here's what Mike does. When you buy his product, the Butterfly Marketing Manuscript for $97, as soon as you hit the order button and complete the order, Mike will NOT immediately let you download the manuscript. Most marketers would. But not Mike.

Instead, on the "Order Complete" page, he's show you a video of himself explaining that he has created a software package to accompany his manuscript and that he'll give you this $1495 package for only $897 if you commit to ordering now.

Now remember, the user has just spent $97. Filsaime is maximizing the customer value by now asking them to buy a higher end product before they proceed to downloading the manuscript.

Now here's a question.

What Percentage of People do you Think Will Take Mike Up on his Offer?

The answer according to Mike is 11%.

This means that for every 100 people who buy the Butterfly Marketing Manuscript for $97, Mike will make $9700 from the manuscript.

But he's make $9867 from that 11% of people who then order the software package on CD.

Mike makes more on the UPSELL than on the actual product.

But he doesn't stop there.

If you decide not to buy the $897 upsell, Mike will then downsell you and offer the same package for only $497 if you order now. For $497 you won't get it on CDs, you'll have to download the digital version.

And according to Mike, another 10% of buyers will take him up on this.

This is another $4970 in revenue.

So a potential sale of $9700 has been turned into a sales value of

$9700
+ $9867
+ $4970
-------
$24,537

Mike's increased his revenue by over 150% through the clever use of upsells and downsells.

But he takes it one step further.

Mike now looks for other sites that have a similar audience to his own.

(You can do this too by using a service like Quantcast.com)

He examines the site and looks for dead real estate and offers the site owner a little badge or banner that they can add to advertise the Butterfly Marketing manuscript.

The site owner gets a percentage of revenue, and Mike gets a new customer. At this seminar he announced that he was making an extra $36,000 per month from these types of deals.

Those are some pretty impressive stats. And the best part is that anyone can start using upsells, downsells and integration marketing almost immediately.

Last 5 posts by

• The Enlightened Entrepreneur Experience: How To Experience The "Turning Point" And Complete Freedom In Your Business - January 25th, 2010
• Tribal Marketing: Surprisingly Ethical Ways to Significantly Reduce Your Unsubscribe Rate And Easily Boost Profits - January 19th, 2010
• Breaking the Silence - August 7th, 2009
• How Relationship Marketing Trumps Traditional Direct Marketing (and Why the Social Media Craze Is Mostly Hype) - March 31st, 2009
• MindValley's Social Media Marketing Unveiled - December 2nd, 2008

About the Author

Vishen is a co-founder of MindValley. Before MindValley, he was an exec in Silicon Valley and New York for several internet and technology firms. He turned bedroom entrepreneur at 27 and by the time he was 31 had founded 6 web businesses and never had to work a conventional job again.

Check out other posts by Vishen Lakhiani

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