Ignite sales with compelling upsells and cross-sells
Ignite SalesWith Compelling Upsells and Cross-sells Brian Jambor Partner Marketing & Sales Specialist Infusionsoft
Beat out the competition“Upselling is likebringing a gun to aknife fight” -@carlosinho
The common upsellDo you want fries withthat?Why is this socompelling?
The common cross-sellWhy is this socompelling?•You’re eating anyway•It’s not that much more•If you get fries, do youwant to make it a mealfor $1 more?
Why it works?Adding on features that provide tons ofvalue at little or no additional cost to thebusiness accounts for a greater net profitper transaction.
Why it works?At this point as a consumer, I’mthinking...why would I pay $79/mo if I canpay $35/mo?
Creating the entry level• What does an iPad cost?• How much did you pay for your current iPad?• Are you willing to upgrade for only $499?
Making it an easy choice• Will 16gb be enough?• I can double my storage for only $100 more (200% storage for only 20% more in cost)• For only 26% more I can get WiFi + 4G.
Making it an easy choice• Should not increase purchase total by more than 25%
Create product bundles for an easy upsell• Get a basic coaching package for $999.• Get our deluxe package which also includes 3 hours of 1:1 mentoring for $1299• Get all of the above and a signed copy of my book for $1500
Create product bundles for an easy upsell What I was going to buy. What I ended up buying. They made an extra $27!
Leverage the Power of SocialHow many other “smart consumers” choseone option over another? This works forverbiage such as “Most Popular” as well.
Leverage the Power of SocialOther Customers were looking at:•Similar Items•Complementary Items
Can you use 2? •We might run out! •Quantity Discount! •Friends & Family? •Gifts?Source: http://www.squidoo.com/Techniques-To-Upsell
Can you use 2? Limited time offer. You’re limited to 2. It’s a $249 Thermostat! Can I resell it?Source: http://www.thenest.com
For a limited time, upgrade at a special price Perfect to put on a thank you page.http://www.squidoo.com/Techniques-To-Upsell
Bought from a Competitor? Upgrade! •Perfect for a dedicated LP •Call out your advantages •The ultimate Upsell!!!
Add 1 more item and shipping is FREEhttp://www.squidoo.com/Techniques-To-Upsell
Upsell based on Fear of Loss •Extended Warranty •Dedicated Tech Support •Managed Services •Upgrades for Lifehttp://www.firepolemarketing.com/blog/2012/01/31/upselling-done-right/
Massive Margins in Warranties •Account for 45% of Best Buy’s Income - Business Week •Margins typically are 60 to 70% •The Math: •Spend $1 on a Warranty •$0.60 is profit for Retailer •$0.20 is paid out in claims •$0.20 is profit - Insurance co.
Upsell based on additional training •Additional training/coaching •1:1 consultations •Group Webinars/Coaching Low Cost ($49/mo for 15 attendees)
Upsell based on additional training Low Cost ($49/mo for 25 attendees)
Targeted Cross-sell Post Purchase •Coupons Post Sale •Thank you page •Inserts with Paid Invoicehttp://www.ipowerweb.com/iboost/profit/selling_products_or_services/increasing_sales/articles/03030.html
Becoming an Affiliate •It has to make sense. •Google is your friendhttp://www.ipowerweb.com/iboost/profit/selling_products_or_services/increasing_sales/articles/03030.html
Becoming an Affiliate •Does it fit with your industry?
Becoming an Affiliate Are you part of the overall solution?
Finding Correlating ProductsMaybe I offerheart healthyrecipes as across-sell
Accessing a library of cross-sells http://www.cj.com/
Cross-selling based on previous purchases •Tagging System •Triggers based on Purchases Upsells Based on: •Date Range Criteria •Promo Code Criteria •Product and/or Qty Criteria •Subscription Plan in Cart •Order Total Criteria