How To Make More Money With Upsells
by Matt Bacak
Learning how to make money with upsells is one of the factors that tremendously grows any business. You must be familiar with the question “would you like fries with that?” This is probably one of the most famous upsell in business. Ruthless business people stop at nothing to have them in their businesses.
Not all of us have the same view when it comes to upsells, but we would take on anything that would help us make more money in our businesses. That is why I’m happy to share with you this information on how upsells can be done well to bring you more business and not irritate your clients.
1. Upsells can occur at 3 points during a business process: pre-sale, checkout and post sale. When setting up upsells at any point of these opportunities, they have different approaches.
2. Pre-sale upsell occurs on the sales page. It is part of the whole sales pitch of your product. It is presented to the customer before they checkout, e.g “buy all 6 ebooks for $49.”
3. Pre-sale upsell is presented as an offer that goes along with the product on the sales page.
4. Checkout upsell is presented when the customer has made an action to buy (add to cart). You ask the customer in your own way if they would like “fries with that”.
5. You would want to keep a few upsells at this point because you are interrupting a checkout process.
6. Remember to give the customer an option to decline without feeling interrupted. This can be done by have a “No Thanks” button.
7. A checkout upsell can also be presented when a buyer is confirming an order. Amazon subtly suggests this very well.
8. A post sale upsell is the most common technique used. It is commonly presented in emails after purchase, offering a similar product to the purchased one.
9. It is easier setting up a post sale upsell as it can be a more advanced product than the one bought.
At each stage of the techniques, the buyer is at a different sales cycle stage. At pre-sale, they might not have decided what to buy, at checkout stage, they have mentally committed to buy and at post sale they are probably enjoying the product. So what do you upsell at each point?
10. At pre-sale, find products that have a similar price and offer them at a discount.
11. At checkout, find products that complement the purchased product but have a lower price.
12. At post sale, you have the freedom to offer more expensive offer, you premium products.
Things to consider – You don’t want to piss off your customers.
13. Do not automatically add things to their cart. Even if your clients trust you, it is an element of dishonesty.
14. Do not sell your buyers what you have already sold them. They expect you to know what you’ve sold them and would not take excuses.
15. Do not offer the same product when they have said “No Thanks”. Even if you discount it further, honor their decline.