What are the sales strategies for upselling products?
A savvy question. I’ll assume you’re asking about online, but a lot of the ideas here translate pretty easily to offline situations as well.
Upselling is perhaps the most important concept in all of the business, especially for moving up from the beginner, barely successful level to legitimately successful. Thus, the best strategies for individual markets and scenarios are a sort of business secrets, and even a lot of the info gurus out there won’t explain them. But I will.
Per my experience in marketing and sales, I would like to discuss a few proven strategies that apply to all types of products and markets. And don’t worry; they are easy to implement, even for someone who has not focused on upselling before.
Here are five sales strategies for upselling products:
#1 By presenting offers and discounts on upsells. The no-brainer answer. Let’s more on.
#2 If possible, implement a CRM system. CRM stands for customer relationship management. It allows you to do many things, such as analyze the purchase histories of customers and then offer exclusive deals to only those who are most likely to say yes.
#3 Demonstrate the value of the upsell product in relation to the original product. You can do this both during the customer’s purchasing journey for the base product (ideal) or after they’ve already bought it if that is more appropriate of a context. Whatever works.
#4 Implement email marketing and do regular follow-ups to potentially get more sales on someone who was upsold once already. A person who got upsold once may well end up buying something else from you later. The seed has been planted that what you sell is worth it to them, so don’t let those kinds of big fish slip away.
#5 Offer a higher-level version of something basic you sell, for those who have made full use of the first thing and want more. Especially suited to information and service businesses.
Make sure you set a realistic timeframe. For instance, someone who buys a workout book will need a few weeks to test out the information and exercises. They’ve gotta make some progress before they could realistically be sold on something additional.
I hope this helps, and check my website for more.