Part 7. Why Upselling is the Secret Power You Can Not Ignore
Turning One Sale Into Many.
Today, we’re diving into one of the most under-rated strategies for growing your online business quickly, namely ‘upselling’.
That’s right, upselling isn’t just a sales tactic for pushy car salesmen—it’s one of the most powerful tools in your marketing arsenal, especially in 2024!
If you’re not upselling to your customers, you’re essentially leaving a lot of money on the table.
But don’t worry, we’re not talking about sleazy tactics or forcing people to buy things they don’t need. Done right, upselling can actually enhance the customer experience and build stronger relationships with your audience.
So, let’s dive into how upselling can transform your online business and turn one sale into many.
What is Upselling, and Why Does It Work ?
Before we get into the how, let’s cover the basics.
Upselling is the practice of encouraging customers to buy a more expensive version of a product or add complementary items to their purchase. Think of it as a gentle nudge towards more value.
So why does upselling work? Well, customers who are already in the buying mindset are more likely to spend a little extra if they see additional value.
Plus, it’s easier to sell to an existing customer than to acquire a new one. In fact, research shows that the probability of selling to an existing customer is around 60-70 %, compared to just 5-20% for new customers!
And all you need is to offer additional value-adding products or upgrades at checkout to increase your Average Order Value (AOV) by tens of % without even increasing your marketing spend!
Interested to learn more?
Learn How To Use Upselling To Boost Your Online Sales in 2024 & Beyond
How many times have you fallen for a ‘last-minute exclusive’’ offer while shopping online?
Two Keys to Successful Upselling - Timing and Relevance
The secret to successful upselling is rather simple and is all about timing and relevance.
Your upsell offer should be presented at the right moment—typically during the checkout process—and it should be related to what the customer is already buying.
For example, if someone’s buying a camera from your online store, offering them an extended warranty or a camera bag is a natural upsell. If you were to offer something completely unrelated, like a pair of shoes, it wouldn’t make sense and might turn the customer right off.
The key is to make the upsell feel like a valuable addition, not an annoying add-on.
At THE 9 KEYS, we elaborate various upsell strategies focusing on adding value to the customer’s purchase, by bundling products which we think align with the buyer’s persona. And this approach makes the upsell feel like a no-brainer rather than a hard sell, with an upsell form which literally took us not more than 15min to create (using HighLevel again).
Here’s an example of one of our 'upsell' pages that you may have come across while browsing our website (you can access it directly here if you haven’t already).
Effective Upselling Techniques
Now, let’s talk a bit about tactics.
There are a few ‘tried-and-true’ upselling techniques that can help you boost your revenue without annoying your customers. And below are 4 that top our list:
Product Bundles: Consider offering complementary products as part of your package deal. For example, if someone’s buying skincare products, offer a bundle that includes a cleanser, moisturizer, and toner at a discounted price. Simple enough, right?
Premium Versions: Encourage customers to upgrade to a more expensive version of the product they’re buying by offering them an irresistible special discount! This works particularly well for software, electronics, and subscription services.
Limited-Time Offers: Create a sense of urgency by offering a time-sensitive upsell. For example, “Add this product to your order for 20% off - only available today!”
Personalized Recommendations: Last but not least, use AI and customer data to offer personalized upsells, as these tend to be the most effective. For example, if a customer frequently buys eco-friendly products, offer them an eco-friendly upgrade or add-on, giving them a compelling reason to return for their next purchase!
The goal with these techniques is to enhance the customer’s experience while also increasing your AOV.
It’s simply a win-win.
Here’s an example of one of our most effective upsell pages, driving high-quality, recurring traffic to our website!
Understanding The Psychology Behind Upselling
Let’s dive deeper into an element just as crucial as the upsell itself: understanding what triggers a customer to go for an upsell.
When a customer has already decided to make a purchase, they’ve mentally committed to spending money.
At this point, they’re more open to the idea of spending a little extra—especially if it enhances the value of their original purchase.
In fact, people often feel good about upselling if it improves their overall experience. Think about the last time you upgraded your meal at a restaurant or added extra toppings to your pizza. You very likely didn’t feel pressured - you simply felt like you were getting more value for your money, right?
Well, that’s exactly the mindset you want to tap into with upselling.
Remember the last time you went for an upsell, whether while scrolling through Facebook or shopping online? Understanding what made you take that leap is the key to mastering upselling!
Why Upselling is Good for Your Customers ?
It’s easy to think of upselling as purely a revenue-generating tactic, but it’s actually beneficial for your customers too.
When done right, upselling can help your customers get more out of their purchase, without emptying their pockets!
Whether it’s a product that complements what they’ve already bought or an upgrade that improves their experience, upselling is primarily about delivering extra value. The key is making it truly irresistible without coming across as too ‘salesy’.
For example, at THE 9 KEYS, we offer personalized marketing templates for ready-to-use websites & email marketing sequences as an upsell to customers who have subscribed to the CRM software through our platform (see below). These templates help them get started faster and achieve better results, enhancing their overall experience and satisfaction.
Here’s another example of ready-to-implement email sequences, available exclusively after registering for HighLevel through our affiliate link. Why not start your free 30-day trial today?
Case Study: How Upselling Boosted Our Revenue ?
Let me share a quick ‘‘success’’ story (at our scale at least).
At THE 9 KEYS, we decided to implement an upselling strategy for one of our core products - a marketing software package, namely HighLevel.
During the checkout process, we started offering an additional service: a personalized onboarding consultation for free. It was a natural fit, as it helped customers get the most out of the software they were buying.
The result? Our AOV increased quickly, and customers who took advantage of the upsell were more likely to stay with us long-term and show interest in other products we promote.
In essence, this was a simple, low-pressure upsell that provided real value to our customers while boosting our bottom line.
TAKE-AWAY
In short, here’s the takeaway for today: Upselling is one of the easiest & most effective ways to increase your revenue and improve customer satisfaction.
The key is to offer relevant, valuable upsells at the right time, and to focus on enhancing the customer’s experience rather than just trying to make a quick buck.
So, if you’re not upselling yet, now’s the time to start. Trust me, once you see the results, you’ll wonder why you didn’t do it sooner.
And always remember, adopting a ‘give first before expecting to receive’ mindset will take you a long way…
