A time-honored technique to increase the price point of every transaction is to give an upsell.
Another time-honored method to ensure you don’t lose a sale only is to offer a downsell to somebody who may have ideas for not needing or purchasing the main offer (usually a lack of capital).
- Know Your Customers
Until you know your customers, it will be extremely difficult to run any auspicious offers at all. Knowing your audience inside and out empowers you to ensure that every offer you make solves obstacles for your customers. It will also support you in knowing just the right upsell or downsell to make and when to make it.
- Ensure Your Upsell Is Related to Your Original Offer
When you prefer either an upsell or a downsell, they necessitate being closely related to the first offer. If not, it will be complicated. An example of this practice might be offering a “How to Drop Weight and Go Healthy” eBook and as an upsell offer you could add a “20 Day Menu Plan with Grocery List, Recipes, and Cooking Instructions”.
- Put Your Upsell and Downsell Offers Limited
One uncertainty about upselling and downselling is the temptation to persist in adding offers when people turn down the offer you have delivered them first. However, you don’t need to confuse your customers with various choices. Plus, you want to ensure that the upsells or downsells aren’t giant price drops or rises. Consider 20-30% up or down either way.
- Try Building a Bundled Proposal
One way to offer an upsell that looks amazing is to make the upsell bundle proposal. For example, you’re selling this eBook, and you also have the grocery shopping list, recipes, and instructions to support them follow the book. Plus, you even have group coaching. You can put all that into a package right in the shopping cart and let them pick that instead of their original selection.
- Test Everything
When you need to offer anything, it’s necessary to consider different cost points, various upsells, and different downsells. Conducting some A/B testing can show you, for example, whether your audience would turn more to the bundle offers or to a more direct upsell or downsell opportunity. You can’t understand what they want without testing.
Adding upsell and downsell opportunities to your original proposals will increase the price point of initial purchases – thus ensuring that you earn even more money. (How to Make Money Blogging?)