|February 10, 2009||Volume 8 Number 04 Issue 216|
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Make One Time Offers That Convert
by Jim Mr Idea Green
What Is a One Time Offer (OTO)?
An OTO shows up after the front end product is purchased, and is offered only once. The offer is not made anywhere else, and is not a discounted or sale offer.
I recommend that you use an OTO script that prevents a potential buyer from bookmarking your offer and returning later. You want your buyers to know that when you say OTO, you mean OTO ONLY!
What Makes a Good OTO?
Many entrepreneurs make the mistake of trying to turn anything that they have in stock into an OTO. This is a sure recipe for failure. Successful OTO’s are closely related to the original offer.
An example might be to offer an ebook on dog training techniques and then the OTO would be a video that shows a dog trainer in action. Be specific. In the Internet Marketing arena, a common OTO is to offer the Master Resell Rights (MRR) to the product just purchased. If I were to turn this article into a full length ebook, I might offer a video series as the OTO, or perhaps the MRR to the ebook, or even a script to automate your OTO.
Exactly the opposite of an Upsell which costs only 60% of the price of the original offer, an OTO will usually be priced at anywhere from 40 to 140% more than the original offer. The idea behind the OTO is that your visitors are already a buyers, so getting them to spend more on your OTO is just moving them along the path they are already on.
If you are to succeed with your OTO’s, make sure that the OTO deal that you are offering is not on offer anywhere else. OTO’s work best if you own and control the product and how it is marketed. That way you can be sure that no one is legitimately offering your OTO as a main product. If you don't own and control the product, it is okay if someone else is making the same or similar OTO, just as long as they are not offering your OTO as their main product. If you try to use a product that is available all over the ‘Net as a stand alone product, as your OTO, you will lose credibility.
Contrary to what I said earlier, you can use an OTO as a downsell. If your buyer refuses your OTO, you can make another, lesser offer for less money as a second OTO. An example might be if you offered a super package of 12 digital products for $97, then you could offer a downsell OTO of 6 of the digital products for only $59.
A big vote against OTO’s for some venders is the risk that you will miss some sales because potential buyers can't come back later and buy your OTO. If your product is one that buyers will tend to mull over a while before purchasing, then maybe it should be a main product rather than an OTO. Remember, your OTO is designed to satiate the hunger generated when a visitor becomes a buyer. It is not designed to turn a visitor into a buyer - because unless your visitor buys, they will never see your OTO.
Want to learn more about One Time Offers. Go to this website for a One Time Offer Video Tutorial.Final Notes
from Your Faithful Editor
Need a script to run your One Time Offer? I really like the $7 Script.
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