Offering an upsell is a tried-and-true approach to raise the price point of each transaction.
Another tried-and-true technique to avoid losing a sale is to provide a downsell to those who may not need or want the primary offer for any reason (usually a lack of funds).
1. Put everything to the test
When considering what to sell, think about multiple price points, different upsells, and different downsells. A/B testing can reveal if your audience is more likely to convert to package offers or a more direct upsell or downsell opportunity, for example. You can’t tell what they enjoy unless you test it.
Including upsell and downsell options in your initial offers will raise the price point of initial orders, allowing you to make even more money.
Furthermore, downsells will keep clients who aren’t ready to commit to the more expensive offer. This will add them to your email list and demonstrate the quality of your work while remaining relevant to your first offer.
2. Get to Know Your Clients
It will be difficult to run any profitable deals until you get to know your clients. Knowing your target market inside and out allows you to make sure that each offer you make solves an issue for them. It will also help you figure out when and how to make the proper upsell or downsell.
3. Double-check that your upsell is related to your initial offer.
If you’re going to use an upsell or a downsell, make sure it’s relevant to the first offer. Otherwise, it will be perplexing. Offering a “How to Lose Weight and Get Healthy” eBook with an upsell offer of a “30-Day Menu Plan with Grocery List, Recipes, and Cooking Instructions” is an example of this approach
4. Limit the number of upsell and downsell offers you make.
When consumers reject the first offer you make them, one danger of upselling and downselling is the temptation to keep adding offers. You don’t want to overwhelm your customers with too many options, though. You also want to make sure the upsells and downsells aren’t huge price drops or rises. Consider a 20-25 percent increase or decrease in either direction
5. Consider putting together a package deal.
Making an upsell a bundle offer is one approach to make an upsell appear spectacular. You’re selling an eBook, for example, and you’ve included a grocery shopping list, recipes, and directions to help people follow the book. You can also participate in group coaching. You may package all of this in the shopping basket and let them choose it instead of their original option.
If you build your sales process correctly, you can put your upsells and downsells on autopilot and regularly turn leads into customers.