4 Tips for Creating One Time Offers: Decide on the Format of Your OTO
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When most business owners think of earning money online with info products, they think about the money they’ll make from selling their first product (report, ebook, software, audio, or video package). However, while the sales that are made on the front end are very nice, you can dramatically increase your income by making additional offers during the check out process – which is known as the back-end.
A one-time offer (OTO), is an upsell or larger package that the buyer will have the opportunity to buy while purchasing your original product. They will have one chance to buy something at a discounted or special price. If they don’t buy at that moment it will not be offered again.
Creating one time offers is a smart and effective strategy that allows you to offer your customers additional products, and increase your revenue in the process.
Tip #1: Decide on the Format of Your One Time Offer
The first step is obviously choosing what to offer your customer in addition to the initial product that they’re purchasing.
Think about what would best serve and entice your buyer. Oftentimes it may be more of what they are already purchasing, or a complementary resource.
Here are some ideas:
- People learn in different ways. Because of this, you might offer something like a video or audio edition of the product they just bought.
- Checklists, worksheets, and tools to enhance the results of the product they are buying are also popular.
- Coaching, whether group or in a one-on-one fashion, can certainly get people excited about learning more, too.
- Create a bundle of your products or create a series of discounts for buying products now that will be released in the near future.
Perhaps offering additional rights to the product that they are purchasing – for instance resale rights or private label rights may entice your customer to spend more money, too.
