Is The OTO A Gimmick Or A Useful Selling Technique?
Topics: one time offers, convert traffic, increase traffic, traffic tactics, internet marketing, sales strategies
As you implement traffic-generation strategies like pay-per-click and article marketing, how do you handle the traffic that arrives at your site? Your primary objective should be to capture information. After that, you want to monetize your traffic as soon as possible. Most of your traffic will respond best to free information and buy from you only after you’ve established a relationship with them. Thus the need to capture information.
But what about that 2-3% who are ready to buy from you immediately? What if your free information just isn’t enough, and they want more? How do you convince them to get more from you and not keep searching? Also, how do you grab the attention of those who are just “looking” before you have a chance to build a solid relationship with them? What can you do to you get your relationship started on the right foot?
The answer to all these questions is the One Time Offer (OTO). If you’ve ever done any shopping, you’ve seen the OTO in action:
–The “One Day Only” Sale
–”Buy within the next five minutes or miss out on the $100 savings.”
–”Once you leave this page, you’ll never see this offer anywhere ever again.”
–”Special bonuses only available until 11:59 pm tonight!”
–”Limited number of seats/products/phone lines, so register before it’s sold out!”
In its strictest sense, the OTO is available once, then disappears forever. This kind of offer works in retail stores and online stores alike. It works because it has a strong emotional appeal and creates a sense of urgency within the customer. This compels the customer to take immediate buying action for fear of missing out on a great deal, product or bonus. Fear of missing out on something is a great and effective motivator, but some argue that this manipulates people and gets them to buy things they’ll later regret.
When used correctly, though, the OTO has nothing to do with manipulation and everything to do with helping your prospects realize the danger of not doing business with you. You want to show them what’s at stake if they don’t buy this valuable product that could enhance their lives.
Sure, they may be able to buy what you’re offering later if they don’t want it right away, but they’ll have to pay a higher price.
To better illustrate what I mean, let’s compare Marketer A (Al) with Marketer B (Bob). Both sell information about dog training, but Al refuses to use OTO’s in his marketing. He sells everything for the same price all the time and doesn’t expose his subscribers to any sales messages until after he’s nurtured a solid relationship with them through his free ezine.
When he finally gets around to offering a product, he gives no compelling reason to buy right away. His customers are aware of what he has to sell and perhaps even want to buy it, but they have other things they need to do. So they tell themselves they’ll visit the sales page later knowing they won’t miss out on any special deals.
Without that sense of urgency, they don’t take immediate action. And more often than not forget about buying Al’s products. So Al struggles to make sales even though his products are of high value and could help his subscribers immensely in their quest to train their dogs. Bob, on the other hand, wants to make sure his customers benefit from his products. He knows they get distracted easily so compels them to buy through utilizing the OTO every chance he gets.
Glen Hopkins is a Best-Selling Author, Speaker and Consultant. He teaches struggling entrepreneurs how to turn their Online businesses into thriving money machines. Get his List Building Report and Web Traffic CD for FREE at www.glenhopkins.name
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