How to increase your income with upselling and one-time offers!
Upselling is a tried and true marketing tactic. It has been around forever. Ever heard “Do you want fries with that?” or what about when paying for gas and being asked if you want to wash your car.
An upsell is simply the option to add an additional product or service to an existing purchase… while someones wallet is still in their hands and in buying mode. One-time offers, are an extension of that that offers scarcity and a discount enticing the person to buy now or lose the deal forever!
The thing that makes upsells work is adding value to what your customer has already purchased. An upsell should make both the customer and business feel like winners. Adding fries to a burger compliments the meal. It adds value to the purchase already being made.
Upselling increases the potential value of each customer significantly. Having proper sales funnel, well thought out, can potentially multiply your profits.
Your upsell products should be:
- Tempting – Do your research and know your client well enough to offer them something they can’t refuse.
- Offer Value – Your offer should add something useful to what is already being purchased.
- Practical – It needs to be something that the buyer can immediately use without having to put ore than a few seconds of thought into it.
- Associated – It is critical that every upsell, whether a product or service, is related to what the customer is already purchasing.
Your upsell doesn’t have to be priced lower than what they are already buying. There are no rules. If you are in the Internet Marketing industry, you will know what I mean. Incentivized offers, especially with scarcity, do increase sales… whether you like it or not!
You know your customer and your products best… what can you offer them as an adjunct to your product or service. Remember, it does not have to be yours. Regardless or what you choose, test, test and test!
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