10 Upsell Strategies That Will Increase Your Profits
By
David
Riewe,
The Internet Marketer and Publisher,
Ft. Worth, TX, U.S.A.
david[at]riewe.com
http://riewe.com/
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As you know it can be very expensive
to attract new customers. You can cut down on those
expenses by "upselling" to those new customers.
For example, let's say you're selling a computer with
a 15" monitor for $1200. You tell people they
can upgrade to a 17" monitor for only $200 more.
That's upselling! Your goal is to get more money out
of the first sale. Below are ten upselling strategies
you can use to increase your profits.
1. Deluxe Upsell-You could sell a
basic product and tell people for a little more money
they can receive the deluxe edition.
2. Money Upsell-You could offer people
the rights to sell the product they are buying from
your business. You could charge an extra $30 dollars
to get the reproduction rights.
3. Discount Upsell-If you're selling
a product people may order again in the future like
shave gel, you could offer them a second can of shave
gel at a discount.
4. Time Upsell-If you're selling
a product or service people subscribe to, like a magazine,
you could tell them if they subscribe for two years
instead of one, they can receive it half off the cover
price.
5. Quantity Upsell-This is similar
to the discount upsell. The only difference is you
increase the discount by how many products they order.
If they order 3 it's a 10% discount, if they order
5 it's a 15% discount.
6. Package Upsell-When you're selling
a product you could offer similar products in a package
deal. Tell the people the other products are cheaper
with the package deal versus purchasing them separately.
7. Affiliate Upsell-When you're selling
a product you could offer someone else's product as
an upsell. You would have to make a commission on
the product in order to profit.
8. Free Upsell-You could offer a
free sample or trial of your product (your first sale
would be free) and then tell people if they order
the full version right now they will get a discount.
9. Extra Upsell-There are many things
you could charge extra for at the time of sale. It
could be gift wrapping, imprinting, custom designs,
etc.
10. Extended Upsell-If your product
comes with a warranty, you could ask people if they
would like to extend the warranty one more year for
only $30.
In conclusion, you can use one or
all these strategies to increase your profits at the
point of sale. Don't be afraid to use your imagination
to come up with other upsell strategies.
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