Black Entrepreneur Blueprint 508 - Jay Jones - Three Simple Hacks To Increase Your Sales Today

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[00:01:00] Welcome to the BLACK ENTREPRENEUR BLUEPRINT, episode number 508. I'm your host Jay Jones and today we have another outstanding and informative show and stored for you.

[00:01:12] Today we're going to be doing a re-broadcast of one of our most downloaded episodes from April of 2023 titled Three Simple Hacks to Increase Your Sales Today.

[00:01:24] Three simple hacks to increase your sales, not tomorrow, not next week, not next month, but today, meaning you can implement this immediately.

[00:01:34] Now, before we get to today's show content, I just want to share a few things with the BLACK ENTREPRENEUR BLUEPRINT family.

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[00:02:56] Now, let's get ready for today's show content.

[00:03:00] Now, you know the lifeblood of every business is sales and if you're not making consistent sales,

[00:03:05] that means that you're probably going to be going out of business soon and obviously we don't want that.

[00:03:11] So many successful entrepreneurs are able to increase their sales by doing several simple things

[00:03:17] that positively affect the bottom line.

[00:03:20] Now, these are three things that you can literally implement today

[00:03:24] that are going to increase your average cart value.

[00:03:27] And when I say cart value, that means you're checkout.

[00:03:30] So it doesn't matter if you're selling physical products, digital products or services.

[00:03:34] You want your checkout amount to be larger.

[00:03:37] When that's larger, that means that you're making more money, more sales and more revenue.

[00:03:42] And we all know that without consistent sales, which are the lifeblood of your business,

[00:03:48] you're going to go out of business.

[00:03:50] So the first hack that you can do is number one, add ancillary products as an upsell.

[00:03:56] Add ancillary products as an upsell.

[00:03:59] So what you want to do is either find or create ancillary products that basically are synergistic

[00:04:05] to what your main product is and then you use that as an upsell.

[00:04:10] So if you have something that is going to enhance or improve your primary product,

[00:04:14] that's a great start.

[00:04:16] Now, the question is you're probably saying where do you find these ancillary products?

[00:04:22] And there's two answers.

[00:04:23] Number one, you can create them yourself or number two, you can find them.

[00:04:28] And there are several places where you can find what I call private label products.

[00:04:33] And private label products are products that somebody else has created

[00:04:37] and giving you the authority or authorization to use them as your own.

[00:04:42] So you can actually go in on some of these private label products,

[00:04:46] change the names, change some of the information in the products,

[00:04:50] and then you can use them as your own.

[00:04:52] So here's a couple of places to find private label products.

[00:04:56] You can go to the plrstore.com, plr like private label rights,

[00:05:02] the plrstore.com and you can also use affiliate products to sell

[00:05:07] and you can go to places like clickbank.com, CLICKBANK.com,

[00:05:13] clickbank.com, and also maxbounty.com,

[00:05:18] but there are tons of affiliate sites and private label sites out there.

[00:05:23] And so the whole concept behind this is you have your main product

[00:05:28] and then you find a synergistic product that you either create yourself

[00:05:32] or you actually buy or you reproduce

[00:05:36] or use an affiliate product to sell and increase your cart value.

[00:05:41] And I'm going to give you several examples of this,

[00:05:44] and I'm going to give you a physical product example,

[00:05:46] a digital product example, and a service example.

[00:05:50] So a physical product upsell, for example, could be if you sell grills,

[00:05:54] like I liked the grill, right?

[00:05:56] I was out grilling last weekend. It was a pretty decent day.

[00:05:59] I think we got about up to 60 degrees on Sunday,

[00:06:03] so I was out grilling some rib eyes.

[00:06:05] So just imagine that you're a grill manufacturer and you sell grills online or in the store.

[00:06:11] Now one of the upsells that you could sell would be your grilling tools, right?

[00:06:16] So if you're going to buy a grill, you're going to need grilling tools.

[00:06:20] You may need grilling gloves or whatever.

[00:06:22] So if you're selling a physical product,

[00:06:25] look for products that make sense that are synergistic

[00:06:28] with the main product or products that you sell.

[00:06:31] So that's a very simple example.

[00:06:34] So I spend a lot of money. I have a Weber grill.

[00:06:36] I actually have two grills. I have a coal, a charcoal grill,

[00:06:41] which is a Weber and then I have a gas grill.

[00:06:43] But I have a whole bunch of tools and utensils because grilling is one of my

[00:06:48] hobbies, one of my passions.

[00:06:50] And so if I sold grills, I would definitely upsell the tools and utensils,

[00:06:54] gloves, aprons, whatever you want.

[00:06:57] But that's an example of an ancillary product as an upsell to help increase your cart value.

[00:07:03] An example of a digital product upsell, right?

[00:07:06] So say you're selling online courses and your courses titled

[00:07:11] How to Generate Leads for Your Business.

[00:07:13] So you're selling the course that generate leads for any type of business.

[00:07:17] Now your upsell could be a copy of ten of the most responsive lead magnet templates

[00:07:23] for any business. So if you're going to sell this online course,

[00:07:28] what else do people need to be successful with this course?

[00:07:32] So if you create or provide them with 10 lead magnets templates,

[00:07:37] that's a great upsell. That's something that you can create yourself.

[00:07:41] You can take from your history, if you're selling this course,

[00:07:45] take from the history and experience and create a lead magnet template

[00:07:49] and give them 10 of these as an upsell.

[00:07:52] It makes perfect sense, see? It's synergistic.

[00:07:55] So you're not trying to sell something that doesn't coincide

[00:07:59] or isn't aligned with what your main product to service is.

[00:08:03] So that's an example of a digital product.

[00:08:06] Now let's take an example of a service.

[00:08:08] So say you're an accountant and you specialize with working with just a small businesses, right?

[00:08:14] So your main focus is tax preparation for small businesses,

[00:08:18] but as an upsell you can sell monthly bookkeeping and auditing services.

[00:08:24] It's very simple. It's aligned with what you're doing.

[00:08:27] So a lot of times I think we get caught up with our primary product in service

[00:08:32] and we don't think about some ancillary products that we either create

[00:08:36] or products or services. Let me say that we either create

[00:08:40] or that we can provide that is going to increase our average cart value.

[00:08:46] Now if once again, if you don't have a product

[00:08:49] then you can go and get an affiliate product

[00:08:52] or you can do like I said, you can do a private label product.

[00:08:57] So for example, if you don't know how to create these templates

[00:09:01] if you're selling the templates for lead generational lead magnets

[00:09:05] you don't know how to create them maybe you can find them online

[00:09:08] and then you can add that as an ancillary product.

[00:09:12] But this is something you literally can do by putting in an additional link or product

[00:09:18] on your product spec sheet, on your website or whatever, even in an email.

[00:09:23] So as another example using email when somebody purchases something from you

[00:09:27] and you send them a thank you email you literally could have a link

[00:09:31] for this ancillary product in the thank you email.

[00:09:35] And what does it really cost you and how long does it really take?

[00:09:38] You also have Amazon affiliate links so you can do that.

[00:09:42] Now you're not going to make a lot of money with Amazon affiliates

[00:09:45] because you really make anywhere from I think 5 at the max,

[00:09:49] 5% down to 2%.

[00:09:51] And that all depends on what type of product or what category the product is in.

[00:09:56] So if you're selling utensils for a grill and they cost an extra $35

[00:10:03] and you're getting 2% on that, that's what's 70 cents.

[00:10:08] I'm sorry, 70 cents, literally.

[00:10:11] So you're not making any money on that.

[00:10:13] So with the ancillary product make sure that it makes sense number one

[00:10:18] and that it's profitable that is going to increase your average cart value.

[00:10:22] Okay?

[00:10:23] And what we're talking about is three simple hacks to increase your sales today.

[00:10:27] So number one add ancillary products as an upsell.

[00:10:32] Number two change your single offer to multiple offers.

[00:10:36] And I'm going to explain this change your single offer to multiple offers.

[00:10:41] So many times companies make a single offer but when you give customers the option

[00:10:46] of multiple offers that can literally increase your average sales ticket.

[00:10:51] So you see this a lot in the auto industry every day, right?

[00:10:54] You go on your looking for a new car and then they're going to have obviously the base version.

[00:10:59] Then they're going to have the souped up model, the upgraded model

[00:11:03] and then they're going to have the extreme model, right?

[00:11:06] And it all allows a customer to feel more in control.

[00:11:10] So now when you're going to buy that Acura MDX, you got the base model here,

[00:11:15] you got the upgraded audio package here and then you got the top of the line sports package here.

[00:11:22] And so once again the same product but different variations and versions.

[00:11:27] So they're giving you multiple offers on one product, okay?

[00:11:32] So let's take an example of my new book unlocking a power chat GPT, right?

[00:11:38] So go to unlocking chatgpt.com to check it out but you have two offers.

[00:11:44] You have the base offer for 2495 and then you have the souped up offer for $47.

[00:11:51] And this gives you basic choices that gives the consumer an option.

[00:11:56] So if you just want pretty much the book, it's 2495.

[00:12:00] But if you want the book and some ancillary products that go with it that make sense of,

[00:12:06] you know, with it then it's $47.

[00:12:09] And just to let you guys know out of the hundreds of books that I've sold already,

[00:12:15] I think I've only gotten two people that bought the 2495 version.

[00:12:22] So giving people an option, 2495 versus $47.

[00:12:28] But what happens is when you put the most value at the 47 and we're going to talk about this

[00:12:33] that's what people are going to buy but I'll go a little deeper into that in a minute.

[00:12:38] Here's another example for changing your single offer to a multiple offer.

[00:12:43] Say for a service company like a car wash, right?

[00:12:46] You know you go into a car wash and these automated car washes or some of the hand car wash

[00:12:51] that I go into sometimes they have a basic washing wax, right?

[00:12:55] That's your low end.

[00:12:56] Then they have the wash wax and vacuum and the tire shine.

[00:13:00] That's the middle end.

[00:13:02] Then the top is a full detail.

[00:13:04] So once again you're giving customers an option of what they want to invest with your business.

[00:13:10] And the last example I'm going to give is for digital products.

[00:13:14] So say there's software, right?

[00:13:16] And you see this all the time.

[00:13:18] There's a monthly price.

[00:13:20] If you pay monthly it's 2495 a month but if you pay annually 12 months

[00:13:26] it's only 1995 but you have to pay up front.

[00:13:30] Now even though they're charging less per month what happens is

[00:13:35] they're still making more in that car because they get 1995 times 12 versus 2495 times one.

[00:13:45] And so that's the sign so the thought process behind that.

[00:13:48] So number two changes single offer to multiple offers and let me just get back

[00:13:54] to what I was getting ready to tell you guys about multiple offers.

[00:13:58] Many times you'll see three offers, right?

[00:14:01] There's a low end offer, the middle offer, and the high end offer.

[00:14:06] And the psychology behind this is that most people are going to choose the middle offer.

[00:14:13] So say your main offer, the main thing that you want to sell, whatever that package is,

[00:14:19] make that your middle offer.

[00:14:21] The first offer or the lowest offer is going to be like your bare bones offer where nobody really

[00:14:27] doesn't even make sense for people to buy that offer.

[00:14:31] So you're really forcing people from the bare bones or the low offer to the middle offer

[00:14:36] which is the offer you really want to sell.

[00:14:39] The top or high level offer is an offer for people that are super serious

[00:14:44] that want to get connected to you.

[00:14:46] So you know, you might have an offer say you're doing coaching, right?

[00:14:50] So you can have your group coaching starts out at $47, right?

[00:14:56] Then you have your individual coaching with online courses.

[00:15:01] Just say that's your main offer.

[00:15:02] That's $247 a month.

[00:15:05] Then you have your private coaching group that's, say $1,000 a month.

[00:15:10] So most people aren't going to do the low end.

[00:15:13] They probably want to do the group, I mean, the one-on-one with the online course.

[00:15:18] So that's $247 a month.

[00:15:20] That's the one that you're really trying to sell.

[00:15:23] So when you give people three offers, multiple offers,

[00:15:28] if you look at it, most people are going to choose the middle offer because they make that

[00:15:32] the most attractive and that's the offer they really want to sell.

[00:15:37] So always remember the psychology behind those three offers when you see them.

[00:15:42] And when you see them, take a look at them.

[00:15:43] You're going to get that first offer that's like,

[00:15:46] that doesn't even make sense for me to do it.

[00:15:48] I need to go up to the middle offer and that's exactly where they want you to go

[00:15:52] because that's the offer that they want to sell the most.

[00:15:56] And then the high offer, those are people that you know what?

[00:15:59] If I can get a couple of these high end offers, that's just gravy on that.

[00:16:03] Okay?

[00:16:04] So what we're talking about today guys is three simple hacks to increase your sales

[00:16:08] today, things you can do immediately, right?

[00:16:12] Number one, add ancillary products as an upsell.

[00:16:15] Number two, change your single offer to multiple offers.

[00:16:19] And this can work with any type of business guys,

[00:16:21] any products or services that you sell.

[00:16:24] Okay?

[00:16:25] You can always do multiple offers.

[00:16:28] And the last but not least, and this sounds super silly.

[00:16:31] It's very simple, but it's increase your prices.

[00:16:34] So if you want to increase the average cart value,

[00:16:36] increase your prices, right?

[00:16:38] Now, you have to have a real balance here because when you increase your prices too much

[00:16:44] without adding any additional value,

[00:16:47] you're going to lose the number of transactions.

[00:16:49] So you don't want to do that.

[00:16:51] So for example, I go to this diner probably once or twice a week

[00:16:56] when I'm heading into the office just to stop decompressing

[00:17:00] think on my way to the office.

[00:17:02] And so I noticed they used to have a special

[00:17:05] where it was 695 for a combo, two eggs,

[00:17:10] baking and toast or whatever, 695,

[00:17:14] which was a great deal.

[00:17:15] Great quality food, they give you a lot of food,

[00:17:17] know that good stuff.

[00:17:19] Now it went up to $8.95.

[00:17:21] Which is still a good value.

[00:17:23] Now did I stop stop buying it?

[00:17:26] No, because it didn't appreciate or the cost

[00:17:29] didn't go up to the point where it didn't make sense.

[00:17:32] So when you increase your prices,

[00:17:34] you have to be cognizant of price versus value that seesaw.

[00:17:39] Remember price versus value.

[00:17:41] The price is what you pay.

[00:17:43] The value is what you get and all value is perceived.

[00:17:47] It's perceived by your customers.

[00:17:49] So if they took that price from 695 up to 1295,

[00:17:54] guess what?

[00:17:55] That's not a deal for me anymore.

[00:17:57] And I'm not going to buy that.

[00:17:58] So when you increase your prices,

[00:18:01] you need to make sure that you do it in a way

[00:18:04] that it's not going to decrease the number of transactions

[00:18:08] that you have if you follow me.

[00:18:10] So you don't want to do that.

[00:18:12] But just a simple increase in a dollar or percentage

[00:18:16] of your pricing, guys,

[00:18:18] is going to make a big difference in the bottom line.

[00:18:20] Not necessarily monthly.

[00:18:22] You're not going to necessarily see it that much monthly

[00:18:24] unless you're doing a ton of transactions.

[00:18:26] But at the end of the year

[00:18:28] and your gross revenues, you're going to see it.

[00:18:31] One of the things I want to talk to also about

[00:18:34] increasing your prices, guys,

[00:18:35] is are you charging enough for your products and or services?

[00:18:40] I did an episode on this,

[00:18:42] a sole episode on this.

[00:18:44] But I want you to really evaluate

[00:18:47] what you're charging your customers.

[00:18:49] Are you charging your customers too little?

[00:18:52] Because once again, if your customers aren't paying,

[00:18:56] if they're not feeling it,

[00:18:58] then a lot of times they're not going to appreciate it.

[00:19:02] The things that people get for free,

[00:19:04] they don't appreciate.

[00:19:06] Even the things that people pay for,

[00:19:09] they don't use or appreciate.

[00:19:10] I can look at my online courses, right?

[00:19:13] And I can see people's activity.

[00:19:15] People that spent good money, right?

[00:19:17] And what I noticed was the low end courses,

[00:19:22] people didn't finish them as much

[00:19:24] as somebody that paid $997 for a program

[00:19:28] versus somebody that paid $47 for a program

[00:19:32] because they didn't have that skin in the game.

[00:19:34] They didn't see or feel it, right?

[00:19:37] So when you do something and you invest in something

[00:19:39] and you feel it, right?

[00:19:42] That means, yo, I'm investing in this.

[00:19:44] I need to get my money out of it.

[00:19:46] Now, it's funny I was listening to a podcast

[00:19:48] this morning while I was shaving

[00:19:50] and there's this dude that has a mortgage company

[00:19:57] and what he does is he trains loan officers

[00:20:01] to connect and educate real estate agents

[00:20:04] so they can start to swap business back and forth.

[00:20:08] And one of the things that he said about his program

[00:20:11] for loan officers, he said, look, this program is in cheap.

[00:20:15] This is an investment.

[00:20:17] I don't want somebody that's looking

[00:20:19] not to invest in their business.

[00:20:21] We have a success rate that we have

[00:20:24] because people that come into this program

[00:20:27] spend a couple of thousand dollars

[00:20:29] and when you spend or invest a couple of thousand dollars,

[00:20:32] guess what?

[00:20:33] You're gonna take the time to work the program

[00:20:36] and what he said was when he first started the program

[00:20:38] and he was only charging, I believe about $300 a month.

[00:20:42] And what he found that it actually was detrimental

[00:20:46] to the people that invested in the program

[00:20:49] because they never finished it.

[00:20:50] And also it was detrimental to the program itself

[00:20:53] because he didn't have any success testimonies

[00:20:56] because people would start only invested 300 bucks.

[00:21:00] This is too hard.

[00:21:01] Guess what?

[00:21:02] I'm not gonna finish.

[00:21:03] So it was detrimental to both the person

[00:21:06] that invested in it and the guy that created the program.

[00:21:09] So when we talk about increasing your prices, guys,

[00:21:13] I want you to be very serious

[00:21:15] when you sit down and look at your value, price versus value.

[00:21:20] And a lot of that is determined by what you,

[00:21:23] what your transformation is.

[00:21:24] So for example, when if you're a business coach, right?

[00:21:29] And you're helping somebody that's struggling right now

[00:21:33] and you're gonna help them go from $5,000 a month

[00:21:37] to $20,000 a month.

[00:21:39] What does that equate to in terms of what you should charge them?

[00:21:44] You're giving them 15 extra grand a month, right?

[00:21:48] So if you can do something like that

[00:21:50] and prove you have the capability to do that,

[00:21:53] why wouldn't you charge two or $3,000 a month for your coaching?

[00:21:57] You have to understand what your true value is.

[00:22:01] And that's with not just with business,

[00:22:03] that's just with anything personal too.

[00:22:05] So when you're out there setting your prices

[00:22:08] or increasing your prices,

[00:22:10] a lot of times people get scared.

[00:22:12] Oh man, I'm not gonna lose clients, yeah, you can.

[00:22:16] But the key is what is the trade off?

[00:22:20] Do you want to be able to get higher end clients

[00:22:24] that you don't need as many clients

[00:22:27] to make the same amount of money with less hassle

[00:22:31] or do you want more clients?

[00:22:33] How does it benefit you

[00:22:34] and how does it benefit your customer?

[00:22:37] What makes more sense?

[00:22:39] So in the mortgage business,

[00:22:41] which I'm actually getting ready to get back in me

[00:22:44] and my boy we going at it again.

[00:22:47] They pulled me back in again,

[00:22:49] but we used to say this all the time.

[00:22:52] It was easier to do a million dollar loan

[00:22:55] than it was to do a $50,000 loan.

[00:22:59] And the reason being is when you're dealing

[00:23:01] with people buying million dollar properties,

[00:23:03] they usually have all of their stuff in order.

[00:23:06] Their taxes are up to date.

[00:23:08] They have their pay stubs or whatever.

[00:23:10] You're dealing with lower end homes

[00:23:13] and it's not racist, nothing.

[00:23:15] It's just socioeconomic a lot of times

[00:23:17] and trust me I've been there, done that, right?

[00:23:20] And a lot of times did not in the same financial situation.

[00:23:24] So, I can tell you story upon story.

[00:23:28] Yeah, I get paid but it's under the table.

[00:23:30] Bruh, we can't take that.

[00:23:32] You got to be able to show your assets and income.

[00:23:35] And so you're doing that for a little commission

[00:23:39] which is harder versus doing a million dollar

[00:23:42] loan for a high commission.

[00:23:44] Okay, if I'm making two points on a million dollar loan,

[00:23:48] that's 20 stacks.

[00:23:49] If I'm making two points on a $50,000 loan

[00:23:53] that's going to be hard to get through.

[00:23:55] You know, that's a thousand dollars, right?

[00:23:59] So, what is it worth to you?

[00:24:01] Does it make sense for you?

[00:24:03] Sometimes you want to price out certain customers of yours.

[00:24:07] Okay, but you have to sit down and determine

[00:24:10] what makes the most sense when you do an increase

[00:24:13] of your prices.

[00:24:14] Remember, price versus value is the sea salt.

[00:24:18] If your customer doesn't see the value,

[00:24:21] they're not going to pay the price, right?

[00:24:24] So if the value, but if the value exceeds the price,

[00:24:29] then they're going to pay it.

[00:24:30] If the price exceeds the perceived value,

[00:24:34] they're not going to pay it.

[00:24:35] So it's a balancing act, it's a sea salt.

[00:24:38] But once again, when you do do your price increases, guys,

[00:24:42] make sure that you look at what your competitors are doing,

[00:24:46] make sure you give that value that you can justify.

[00:24:49] If it's a major increase,

[00:24:51] if it's something like a 5%, you know,

[00:24:53] a couple dollars on a product, that's no big deal.

[00:24:57] But if it's a noticeable increase,

[00:25:00] you have to recognize and understand

[00:25:04] what the psyche of your customer is.

[00:25:07] You have to validate that price increase, okay?

[00:25:10] So I actually asked the diner, you know,

[00:25:13] I said, why did you guys go up from $6.95

[00:25:16] on the special to $8.95?

[00:25:19] And I'm cool with the people there

[00:25:20] like, man, because the prices of everything are going up.

[00:25:23] I get it.

[00:25:24] That's cool.

[00:25:24] I was just curious to see what they were saying.

[00:25:27] You see now that even somebody was telling me

[00:25:30] like in Uber, they got these gas surcharges

[00:25:34] or whatever that they're charging now for Uber

[00:25:37] and a lot of these stuff like that.

[00:25:40] So these surcharges because of the price of food,

[00:25:43] the price of products and all of that stuff are going up.

[00:25:46] So a lot of times people understand that.

[00:25:49] But what they want to know is the validation

[00:25:51] on why your price is going up.

[00:25:53] Now you can't take, I'm not going to say you can't do it,

[00:25:56] but it will be very hard to take a $24 ebook

[00:26:00] and then sell it for $997, right?

[00:26:04] Where's the value in that?

[00:26:06] So once again, if you're going to increase your prices,

[00:26:09] sometimes you're going to have to align

[00:26:12] what you're selling or update what you're selling

[00:26:16] and add some things, some things that give perceived value,

[00:26:21] additional value.

[00:26:22] Now before we get to the last quarter of the show guys,

[00:26:25] let me just share my contact information

[00:26:27] and resource links and we're going to keep it super simple.

[00:26:31] Everything that I'm going to talk about guys

[00:26:33] is on the website, blackentrepreneurblueprint.com.

[00:26:37] Blackentrepreneurblueprint.com.

[00:26:40] All my online courses, all my contact information,

[00:26:44] the whole B-E-B ecosystem.

[00:26:46] Go to blackentrepreneurblueprint.com.

[00:26:49] On the first page, you're going to see several of my online courses.

[00:26:53] The first thing you'll see is B-E-B Academy.

[00:26:56] I mentioned that, which is our online learning portal.

[00:26:59] You click the link, you can sign up there.

[00:27:01] Also pinpoint and monetize your genius.

[00:27:03] Check it out is one pound for pound.

[00:27:05] One of my best programs, your geniuses,

[00:27:08] the intersection of your passion and your talent.

[00:27:10] Most people just don't know how to monetize it.

[00:27:13] We have information on the front page of the website.

[00:27:16] Also, brand builder academy elite.

[00:27:19] If you're looking to build an e-commerce brand,

[00:27:21] physical products or digital products,

[00:27:24] brand builder academy elite,

[00:27:25] it is on the front page of the website.

[00:27:28] Now, if you want to connect with me,

[00:27:30] anything long family, hit me on my email.

[00:27:32] J-Jones at blackentrepreneurblueprint.com.

[00:27:36] J-A-Y-J-O-N-E-S

[00:27:38] at blackentrepreneurblueprint.com.

[00:27:40] Facebook, blackentrepreneurblueprint.

[00:27:43] Instagram, I got two IG accounts.

[00:27:45] The first one is J-Jones for real, J-A-Y-J-O-N-E-S.

[00:27:50] The number four are E-A-L.

[00:27:52] Second one is blackentrepreneurblueprint.

[00:27:55] Twitter, J-Jones, 001, J-A-Y-J-O-N-E-S, 001.

[00:28:01] LinkedIn, connect with me there, J-Jones,

[00:28:04] blackentrepreneurblueprint.com.

[00:28:06] YouTube, make sure you sign up and subscribe

[00:28:08] to the YouTube channel family.

[00:28:09] You have additional content on YouTube

[00:28:11] that is not on the show, go to YouTube,

[00:28:14] type in blackentrepreneurblueprint.

[00:28:17] Also make sure you check out the website

[00:28:19] when you go on the blackentrepreneurblueprint.com.

[00:28:23] Click the learn button and on that learn drop down,

[00:28:25] we have all types of resources

[00:28:27] and we talk about e-commerce, scaling your business,

[00:28:31] mindset, strategy, finances,

[00:28:34] everything you need to elevate your entrepreneur IQ.

[00:28:37] Make sure you utilize the new and improved BEB website

[00:28:41] also if you want to connect with me

[00:28:43] and you forgot everything I just said,

[00:28:45] go to the website, hit the about button under my bio.

[00:28:48] They have links to all of my social media contact information.

[00:28:53] Also unlocking chatgpt.com, that's my new book,

[00:28:58] go check out the website and learn more about that.

[00:29:01] All right, let's jump on back

[00:29:02] to the last segment of the program guys

[00:29:04] and we're talking about three simple hacks

[00:29:06] to increase your sales today.

[00:29:09] These are things that you can do instantaneously guys

[00:29:12] that take little or no effort

[00:29:15] to increase your average cart value.

[00:29:17] That's your checkout cart, all right.

[00:29:19] Whatever you use to check out PayPal, Shopify,

[00:29:23] whatever, Stripe, whatever.

[00:29:25] You want to increase your average cart value.

[00:29:28] It's just like you know, you go into the supermarket,

[00:29:30] Walmart or whatever and you go out to check out

[00:29:34] and they got all the candy, gum, soda

[00:29:36] and all that extra stuff in there.

[00:29:38] It's impulse buying a lot of times

[00:29:40] when it's in the supermarket,

[00:29:41] but you have to make it synergistic

[00:29:44] when you're talking about your product or services

[00:29:46] that you're selling.

[00:29:47] So the number one we talked about,

[00:29:49] adding ancillary products as an upsell

[00:29:52] and these can be products or services that you create

[00:29:55] or you can use affiliate products or services

[00:29:58] or you can use if you want to use

[00:30:01] a private label products or services.

[00:30:04] So I gave you guys some sources there

[00:30:06] where you can find private label products and services

[00:30:09] and also affiliate products and services.

[00:30:12] So say for example, if you're selling a,

[00:30:15] you have a weight loss program that you're doing

[00:30:18] or say a diet plan or an exercise plan,

[00:30:21] you may be able to find an affiliate

[00:30:24] where you can sell some type of supplement

[00:30:26] to help with that diet plan or exercise plan.

[00:30:29] That's an ancillary product or service

[00:30:31] that you can upsell and you didn't even create that.

[00:30:35] Number two, we talked about changes single offer

[00:30:38] to multiple offers.

[00:30:39] So as opposed to saying hey, here's the cart,

[00:30:42] this is it, give them multiple offers

[00:30:45] and I just want to remind you guys

[00:30:47] if you see three offers, if you ever go that far

[00:30:50] the middle offer is the offer that the companies

[00:30:53] want you to really take.

[00:30:54] The low offer has really,

[00:30:57] that's the bare bones model, whatever you're selling.

[00:31:00] The middle offer is probably the most value

[00:31:03] and the high end is just for people

[00:31:04] they're hoping that they're going to invest

[00:31:06] a lot of money in whatever their product

[00:31:10] or service that they're selling.

[00:31:11] So that's how you work that multiple offer

[00:31:15] versus the one offer.

[00:31:17] And last but not least, I went in a whole lot

[00:31:19] into this increase your prices.

[00:31:21] Make sure it makes sense, price versus value.

[00:31:24] It's a balancing act.

[00:31:25] All right, so you got to understand what you sell

[00:31:29] is the prices, what you pay, excuse me

[00:31:31] and value is what you get.

[00:31:33] If the perceived value is above the price,

[00:31:37] you will make sales.

[00:31:39] If the price is above the perceived value,

[00:31:41] you will not make sales.

[00:31:43] It's pretty simple

[00:31:44] and you may have to play around with increasing your prices.

[00:31:47] Once again, if you increase them minimally,

[00:31:50] that's not going to be an issue

[00:31:52] and it'll help you generate more sales

[00:31:54] and actually increase your cart value.

[00:31:57] If you make a drastic jump,

[00:31:59] you have to understand and you have to justify

[00:32:02] that jumping your price.

[00:32:03] If you're doubling your price, you got to justify it.

[00:32:06] But I'm gonna tell you guys something

[00:32:07] I learned a long time ago, don't be scared

[00:32:09] to increase your prices.

[00:32:11] Your customers will let you know.

[00:32:13] If they're not buying, guess what?

[00:32:15] Then you may have to bring it back down.

[00:32:18] But it's always easy to come down in price

[00:32:20] than really to go up in price.

[00:32:23] But it's something that you're going to have

[00:32:24] to determine based on your business,

[00:32:27] your costs to your products and services,

[00:32:30] and the value that you provide.

[00:32:33] So as a mortgage broker,

[00:32:34] if I'm making two and a half points on a deal

[00:32:38] or real estate agent that makes three points on a deal,

[00:32:41] that's automatic.

[00:32:42] So I'm gonna sell,

[00:32:43] I'd rather sell the million dollar houses

[00:32:45] than to sell 100,000 dollar houses.

[00:32:49] I'm gonna get still 3%,

[00:32:51] 3% of 10, 100,000 dollar houses

[00:32:54] which is a hell of a lot of work

[00:32:56] or 3% of 1 million dollar house, right?

[00:32:59] So you wanna understand what your market is

[00:33:02] and how you fit into that market

[00:33:04] where are you positioned in that market really

[00:33:07] is what I wanted to say.

[00:33:09] Now before we close on our guys,

[00:33:10] I say this each and every week because it's true,

[00:33:13] we get more and more downloads

[00:33:14] and that's only because of you the BEB family.

[00:33:17] I appreciate you guys so much.

[00:33:19] Please continue to spread the word about the podcast,

[00:33:22] the blog, the new black entrepreneur blueprint.com website

[00:33:26] and the whole ecosystem

[00:33:28] because it's about elevating your entrepreneur IQ.

[00:33:31] Remember guys, it's not about me,

[00:33:33] it's not about you, it's about us.

[00:33:35] It's about building an economic power base

[00:33:37] in a worldwide black community

[00:33:39] by building and supporting black owned businesses.

[00:33:42] Love you guys, see you same time next week.

[00:33:45] Peace.