Let's start with "What is an upsell?". Upselling is influencing a customer to upgrade their product or buy a more expensive version of it. Why would we want to upsell customers? The revenue, right? Yes, having a higher average order per customer translates into a longer lifetime value of those customers. That's why upselling might be scary, but it's vital to a business's success.
So let's get started.
Choose The Right Upsell
You'll hear this pretty much anywhere you go for business advice. Know. Your. Audience. One tool to help with this is a customer journey. The customer journey is vital and can give you the advantage by predicting what will resonate with your customer. Give yourself the advantage by predicting what will resonate with your customer. That's at the heart of sales - being a step ahead. Solve your customer's problems before they even realize it. If you're talking to your customer about knives, why would you bring up a lawnmower? You wouldn't! You'd bring up a knife sharpener. That solves a future problem they could encounter. Upsell? Nope, upsold!
Don't Be Pushy
Our upsell motto is: "Upsell, don't upset." You want to upsell your customers, but you don't want to annoy your patrons so much that they are deterred from buying anything. You want the conversation to flow into the upsell naturally. It should feel like part of the conversation, not that it's the seven-year-old jumping into your discussion because he wants attention. As we said, it's a conversation so read your patron's body language and verbal queues as to whether to continue to discuss the product or whether it was a swing and a miss. Remember, Serve. Don't Sell.
One of the best tools for an upsell is a limited-time offering. Emphasizing taking action now leans into the fear of missing out with your customer.
"Add this state-of-the-art knife sharpener to your order before the end of today, and I can add a 20% discount to it!"
Remember, urgency is a powerful tool but don't abuse it to the point that your customer shuts you out. Sales are about finding that balance between persistence and finesse.
Follow Up, Follow Up, Follow Up
Fortune is in the follow-up. Maybe you've heard of that before. One of the easy ways to make money or get them to bite on the upsell is following up. Remember to follow up, whether you've offered your upsell during the initial conversation or read the situation and identified that it would be better to send an email with the upsell information. Keeping your product (and upsell) top of mind with your consumers is vital to success, so periodically following up about your upsell, or new products, is something that you should have in your routine.
An example of a powerful follow up would be:
Thank you for your time today. It was great hearing about your story and learning more about your goals. As we discussed on the call, I believe that the <product name> would be a great solution for you because <insert reasons>.
I'd love to hear your thoughts and discuss
Gain Trust And Eliminate Risk
Most successful sales process leverages guarantees. With upsells, this is can particularly impactful. Customers are naturally guarded in today's day and age, so if you can gain their trust through a protection guarantee, you've increased your chances of the sale.
How Can EventStar365 Help With Upsells?
Making sales takes a lot, but with EventStar365, you can get a laser sight on who to target for an upsell. EventStar365's integrated reporting and communication feature allows you to send targeted emails to the registrants of your meeting. Send a thank you and upsell email to everyone who checked in. Send a "Sorry we missed you but check out this amazing offer" email with a simple click of a button.