How to Upsell Products Online
If you don’t take advantage of upselling, you are leaving a ton of revenue on the table.
This is because upselling increases revenue by 10 – 30% on average. It’s also a lot easier to upsell existing customers than to sell to new ones…
…Making 70 – 95% of revenue coming from upsells and renewals.
But, of course, it’s NOT that easy to convince your customers to spend more money. You have to have a detailed plan and strategy in order to make it work.
And that’s what you’re about to discover.
In this post, you’ll learn the best ways to upsell your products and services online.
#1: Choose a Relevant Product
If you upsell your customers with irrelevant products, they’re not going to buy.
Think about it, if somebody’s buying an Apple Watch, it probably isn’t wise to try selling them on the newest iMac, right?
Personalization is key for driving revenue and maximizing your chances of successful upselling.
In fact, 75% of consumers are more likely to buy if the retailer either:
- Knows their purchase history
- Recommends purchases based on that history
- Addresses them by name
You can easily achieve that with Checkout Champ.
We allow you to create dynamic upsells that are super-personalized to your audience. We do that by connecting your customer’s information from a CRM to your upsells.
That way, you know precisely what are the best product suggestions – maximizing the chances of a sale.
Book a demo with our team now.
#2: Showcase a Product Comparison
Most customers will conduct research online before they make a purchase. It makes perfect sense, you want to know precisely what you’re getting yourself into:
- What is the price compared to competitors?
- What are the unique features of your product?
- What are customers saying about your product?
You don’t want to lose your money on a crappy product.
To take advantage of this fact, we recommend showing customers similar upsell products and their primary feature differences so that they won’t have to click through multiple pages.
For instance, you can see an example of that with two plans from Spotify.
Or the one from Away Travel displaying a comparison with the upsell item.
This makes it super-easy to see why the other product is superior, eliminates the necessary research conducted by customers, and allows them to make a purchase faster.
Doing so will greatly enhance the chances of a sale and improve your revenue.
#3: Offer a Reward
You have to make it seem like if customers aren’t choosing an upsell, they’re turning down a great deal. You can do that with the comparison strategy we’ve talked about in the previous section.
But there is also another super-powerful way to achieve this.
And that’s offering rewards or a sweeter deal.
In our experience, the two most effective strategies are:
- Offering a coupon/discount
- Offering free shipping
Discounts are super-effective, since 80% of customers would try a new brand if it offered a discount. Also, 66% would make a purchase because of a discount, regardless of whether they initially intended to buy from a company.
The second super-persuasive way to drive more upsell sales is qualifying for free shipping.
This is because a retail study shows that 9 out of 10 consumers say free shipping is the main incentive to shop more.
Therefore make sure you leverage these two “rewards.” They will significantly increase your chances of driving more revenue.
#4: Provide Social Proof
The average consumer reads 10 online reviews before making a purchase decision. It’s essential you reinforce customers’ buying decisions by showing them relevant reviews and testimonials from customers who bought your products.
Also, it will make all your claims more believable.
In fact, 63% of consumers need to hear company claims 3-5X before they actually believe them.
Adding social proof will also spark a fear of missing out.
It will make it seem like everyone is enjoying the product you’re upselling, and if the customers don’t buy, they’ll be missing out.
Here is an example of using social proof with your upsells.
#5: Use the Rule of Three
You’re probably familiar with the three-tier pricing.
In essence, you showcase three different packages your customers might choose and expect most of them to pick the one in the middle. This is a lot more effective than just showcasing one price – which might not suit everyone.
The other reason why three-tier pricing works is because we’re naturally drawn to patterns and can process them more efficiently.
The audience tends to absorb the given information and find things that come in three more effective, funnier, and more satisfying. It is even used in marketing slogans like “Just Do It – Nike” or “I’m Lovin’ It – McDonald’s.”
You can take advantage of the rule of three and show your upselling offer in threes as in below.
#6: Take Advantage of Urgency
Urgency is a smart trigger to nudge people to buy the upsell.
That’s why we suggest offering the upsell for a limited time only or in limited quantities – which will also make these upsells perceived as higher-value.
There are a lot of ways you can trigger urgency, such as:
- Time (limited time, last time, now, today only, deadline, seconds, minutes)
- Speed (now, act now, don’t delay, hurry, rush, instant)
- Scarcity (once in a lifetime, one day only, never again, last chance)
- FOMO (price going up, offer expires, now or never, final sale)
Plus, you can also utilize countdown timers which have a significant positive impact on sales.
You can see an example of urgency and upsells with Sky below. They nudge customers towards the more expensive version by offering a limited-time offer.
Of course, you don’t want to overdo it or fake it because your customers might see through it.
(which will completely destroy any benefits of urgency)
Conclusion
Upsells can be a great way to drive additional revenue and maximize your profitability.
This is mostly because they:
- A lot easier to sell to existing customers
- Existing customers are willing to spend more
- Most revenue comes from existing customers,
But, of course, it’s NOT that easy to convince your customers to spend more money. You have to have a detailed plan and strategy in order to make it work.
And that’s what you’ve learned about today.
Now it’s time to put it into action. That’s where Checkout Champ comes in.
Checkout Champ is the most powerful ecommerce platform out there.
It is the only performance e-commerce platform in the industry. Take advantage of one-click upsells, personalize them by connecting your CRM, and drive more revenue for your ecommerce.
We’ve got it all – 500+ integration, 100+ currencies, and the fastest and most reliable platform.
Plus, we also provide our users and customers with the IMPOSSIBLE experience:
- >1 second checkout load speed
- 10X faster than your current e-commerce
- 3X conversions with one-step checkout pages
…and an elite arsenal of tools to help you make your user experience and sales on-point.
If you want to maximize your sales, we are the platform for you!
Book a demo and skyrocket your sales now.