Barry King Marketing

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How Instagram And Facebook Make Money

on June 17, 2020

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Make More Money For The Same Amount Of Work

Increase Your Price Point Most people tend to undercharge for their services. Try increasing your prices, as a test, and see what happens. Funnily enough, most people perceive something that is higher priced as being of higher quality, which can encourage people to buy your product or service. As you increase your prices, you’re also receiving more per sale, increasing your profit margin. Take this strategy a step further and target higher value clients. For example, if you run a business coaching company, and you currently charge $200 an hour for your time, increase your rates to $1000. With the perceived higher quality and value in your coaching, target businesses that make a lot of money vs. those that are barely getting by. In this example, one client would be worth 5 of your clients in the past. Not only have you raised your hourly rate, but you’ve decreased the amount of work you need to do to earn the same amount of money. An interesting example we’...

Email Marketing

Take Advantage Of E-mail Marketing (More Than You Are Now) E-mail marketing is cheap and very effective, yet few businesses truly take advantage of that. With e-mail costs literally being fractions of a percentage point of the cost of mailing flyers, postcards, etc., you’d think that businesses would be all over it. However, many only rarely, at best, use it. Even many online marketers, who often focus on building up e-mail lists to promote their offers, don’t mail their e-mail lists as often as they should. Let’s face it - there’s TONS of competition online. Competitors are already e-mailing your leads whether you like it or not (after all, how many lists are you on?). If you mail your lists only a couple of times a month, they’ll likely forget who you are. And even if they don’t, you’re missing out on lots of opportunities to be mailing them on your own offers, additional offers you could market to them, affiliate offers, etc. Consider mailing at least a few tim...

How Adding Physical Products As A Bonus, Especially For Your Digital Offers or Services, Can Increase Conversions

Selling digital products like e-books or videos (or even services) can be great, as they often carry much higher margins than physical products. However, people often place a much higher value on physical products that they can touch and hold. This doesn’t mean that you have to offer all your products as physical ones - far from it! Instead, you should consider offering a simple physical product like a branded coffee mug, hat, t-shirt, or some other product that makes sense with your offer, as a bonus for those who take action fast. This does two things. First, it makes people take action faster because they know there’s probably a limited quantity of the physical product (vs. a digital one that they realistically know you can have as many as you want). And second, they place a high value on physical products that they can touch. In fact, as crazy as it sounds, you can increase conversions on a $2,000 web service simply by offering a branded coffee mug ...

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