There are two main ways you could be earning more money. First is by selling your products/services to more people. The second is by selling more to your current customers – upselling. The second option is easier and less expensive because you don’t have acquisition cost, you’ve already established trust with your customers and if they bought once, they are more likely to buy again. I’ve included many upselling examples, so read on.
Some of the best performing online businesses know and use this fact. In this blog post, I’ll show how they are earning more with upsells.
Upsell is an additional useful offer you show to your customers after they’ve bought something. It should be related to what they’ve bought. For example, if they buy a course about content management, your upsell can be a course about copywriting or ads. If they want to organize their content, they might find those skills useful.
WHY SHOULD I HAVE AN UPSELL?
You should have it only if you want to earn more money 🙂
With the upsell #1 in place, you can expect 20-40% of people to buy it. Upsell #2 will work as well but around 10-30% people will buy this one. That means you should definitely have one upsell in place.
Make sure to set up only one-click upsells. Those are the ones that convert the best. I’ll explain why.
Customer’s journey goes like this: They come to your website, browse, find a product they want to buy, get to the order page, leave their credit card information and click buy. After they’ve bought the product, instead of telling them “thank you and goodbye”, you show them your upsell page. On this page, you offer them something additional that goes well with what they already bought and you offer them just to click the buy button to get that additional product for only $x. They don’t have to insert their credit card number again because they’ve already done that. That’s why it’s called one-click upsell. They are just one click away from another purchase 🙂
CHOOSING THE RIGHT UPSELL
When deciding what you should offer as an upsell, think about what would be the next logical step for your customer to buy? How can you help them more? Offer them something additional or offer them the next step to reach their goal faster.
This offer should be connected to what your customer bought from you.
For example, if someone bought an English language workbook or A2 course, the upsell can be an English language B1 grammar course as shown in the example below.
Make sure that your upsell page clearly shows that their purchase is confirmed, but before they leave they should consider your other offer. Here are some upselling examples from Russel Brunson:
You will find plenty of upselling examples below, so keep reading.
THE PRICE MATTERS
The idea is to find an upsell offer you can price at that sweet spot that will get people to think “Oh yes! I have to have it!”.
What I’ve seen work best was $67 up to $199. From the calculations I’ve done based on my clients’ results, that is what brought their business the most revenue. But, it is not a rule and often clients are going for a different price. $300 upsells could also work, but you’ll need a really good product-market fit in order to maximize your offer.
Like in the upselling example below. Our client decided to use the Bootcamp as an upsell after the main offer which was $27. Now, the price of the upsell is much higher but the value given to the clients is huge.
If you offer courses & memberships, you could try positioning the membership as an upsell. A different client of mine had the main offer priced at $199 going into a membership upsell for $79/mo.
How many upsells should you have?
You can have an unlimited number of upsells but you’ll probably annoy people. Generally, 1 is enough, 2 is preferable, 3 is maximum, more than 3 rarely works. What you will choose should depend on how many products you have. If someone doesn’t buy an upsell, you can offer a downsell – which is a lower-priced offer that’s still connected to what they’ve bought.
In most cases, one upsell is enough to start earning more.
Here are two upselling examples and a downsell. This is how it works: If a person buys upsell #1 they are offered #2. If they don’t buy upsell #1 they are offered the downsell.
In this example, the main offer was Facebook ads Bootcamp which cost $19 discounted from $199.
Upsell 1 is FB ads playbook:
Upsell #2 Google Ads Mastery for a special price – 80% off
Here’s a downsell example. This is for those who haven’t bought Upsell #1 so we want to offer them something cheaper but still very useful and connected to their main purchase (Facebook Ads Bootcamp).
Here’s another upselling example from Fit2Fat2Fit. First, there’s upsell #1
Then, there’s upsell #2. You can see and show that with the loading bar at the beginning of the page.
NUMBERS DON’T LIE
You are probably now thinking “Okay, it sounds like it could work but how do I know my clients will buy it?” Well, it’s all in the numbers and numbers don’t lie. Based on our experience and benchmark data we have, if you have good product/market fit, you can expect 20-40% people to buy upsell #1 and 10-30% will buy upsell #2.
What does that mean for your revenue?
If the product you’re offering is $67 and 100 people buy it, your revenue is $6,700. That’s already awesome… But if you have an upsell #1 at $149 and, let’s say, 22% of people take it, that’s another $3,278 in your pocket. Now you have $6,700 + $3,278 which is $9,978.
See it now? I hope that by this point you get why upselling is important and why I always try to use them in my clients’ funnels. They work wonders.
FOLLOW-UP WITH YOUR CLIENTS
To make sure more people buy your upsell offer, set up follow up emails. I suggest setting up an email sequence of 3-4 follow-up emails which include more information about the product, detailed explanation of how they’ll benefit from buying it and a call to action. The emails should go out in 48-72 hrs.
So, if your clients don’t buy the upsell while purchasing the main offer, don’t worry, just follow up.
After you’ve scheduled your follow up emails, upsells are set up.
If you would like help with setting up your offers or if you want to learn more about funnels and upsells, contact us here.