How to Instantly Boost Sales with Strategic Upsells
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LESSON TASKS
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- Identify what more can you offer your buyers to enhance the value of their core purchase.
- Create a process/system for upselling while the buyer is in peak buying state
- Be specific with your upsell offer
- Create a compelling offer that offers an advantage limited by time or quantity
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LESSON BRIEF
[op_liveeditor_element data-style=””][text_block style=”undefined” align=”left” font_color=”%23788596″]Upselling is an awesome strategy for both B2B and B2C businesses that is not being as used as often as it could be… yet, when done correctly, as many as 65% of buyers could take advantage of the upsell.
“What is upselling?”
Ever walk into a McDonald’s and the cashier asks you: “Would you like fries with that?” or, grab a popcorn at the movie theater and been told: “For an extra dollar, we can give you a large.” That’s an upsell.
Apple does this with Apple Care… Best Buy offers this with their various insurances… Tony Robbins did this when I bought a seat at my first seminar and upgraded to the diamond level. The examples are everywhere.
And they’re seen as something that enhances the original purchase – something that gives someone an added benefit. An upsell is a “Value Enhancer.”
You can offer upsells for:
- Greater convenience (i.e. JetBlue offers you the “even more speed” to cut the lines and board the plane first)
- Greater luxury (i.e. you’ve the basic rims, but for an extra $1,000 – you can get the high-end tire rims).
- Greater protection and/or support (i.e. like Apple Care or, if you’ve ever purchased a pair of leather boots, the first thing they offer you is water protectant and boot polish)
- Greater options and more bells and whistles (i.e. you can buy a software program – like what Salesforce offers – there’s the starter version, professional, enterprise and unlimited – as the price goes up, there’s more bells and whistles).
- Greater quantity (i.e. sign up for 12 months instead of a month)
- Greater quality (i.e. maybe instead of plastic, you can upgrade to the stainless steel version)
- Greater speed (i.e. rush delivery)
- Greater flexibility (i.e. if it’s a digital product, offer them an hardcopy for an extra charge)
- Greater access (i.e. take Tony Robbins for example, you can buy a program for a couple hundred bucks but the more person access you want with Tony – you pay more. Seminars with 1,000 people cost more than a product, his Platinum Partners with only 100 people cost more and if you want to work with him one-on-one, that’s a million bucks a year).
It works for all businesses, of all types and industries – you’re only limited to your imagination.[/text_block][/op_liveeditor_element]
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Downloads
Upsell Calculator (via Google Spreadsheets)Before Using Go to File -> Make a Copy
NEXT LESSON
[op_liveeditor_element data-style=””][text_block style=”undefined” align=”center” font_size=”20″ font_style=”bold” font_color=”%234d5560″]Lesson 3: Cross-selling[/text_block][/op_liveeditor_element]
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[op_liveeditor_element data-style=””][text_block style=”style_1.png” align=”left” font_color=”%23788596″]See how you can continue to increase your average transaction size with strategic cross-selling![/text_block][/op_liveeditor_element]
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