July 23, 2008
How To Create An Upsell
An "upsell" is a simple and effective but little used concept.
An upsell occurs when you have already made the sale in the customers mind. He has decided to buy and is digging for his credit card so that he can get the product you just offered him. Now is the time to push the upsell.
Now you shouldn't just grab any old product and offer it out at this point, though that may even bring in more money than not offering an upsell at all. Remember, the customer is already sold, they have already decided to spend their money on your product or service. You need to take this opportunity to increase the size of the sale or order.
The best upsell you can create is something that you know the customer will need or want in the future (because you know the market) that the customer doesn't realize they will need or want.
Let me say this again. The little moment between the time the customer reaches into his back pocket for his credit card and the time he hands you the number (or enters it on your website) is a goldmine for you. You need to be able to very quickly educate the customer on the benefits of buying the larger package or the bigger item or the add on right now.
This is done online with web hosting. You go to some domain name providers and enter the domain name that you want. They briefly explain to you that you need to also purchase the .biz and .net version of your new domain name along with your .com. They say it is for your protection, so no one else can register those domains and make money off you name. AND then they offer it to you at a discount. After reading that little blurb right there you almost feel stupid if you don't take the offer. That is an example of a great upsell.
When was the last time you went in to your local electronics store and bought something? What happens when you gt up to the counter to pay for it? They offer you an extended warranty. That is the upsell. Until you got to the counter, you hadn't really thought of that but while you are digging your credit card out of your pocket, they offer you an additional 2 years warranty for only $39 but you have to buy it now.
Take a look at your products or services and see what you can bundle together or offer as an upsell. Write a quick blurb about it. It has to offer a benefit to the customer and should be offered at a price that they can only get right now, as they are purchasing.
Watch how that increases your profits.
Spread the word
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