How to Increase Your Profits by Offering A Range of Different Upsells

Looking for a way to capitalize on the value each customer is worth to you? An easy way to do this is by offering different upsells. Upselling is offering a complimentary or upgraded version of a product/service that a customer is currently purchasing. One of the most well known upsells can be heard when you head into your local fast food joint: “Would you like fries with that?” Even not so great upsells can add a quick 33% or more to your revenue stream.  Some really good upsells or funnels can even double your initial sales or more! An upsell is a great way to increase the total value of a sale.

For example, if you run a dance school, and each class is $15, you could provide a number of upsells. You could offer 3 different upsells, of varying amounts:
Upsell 1 - 4 week course for $50
Upsell 2 - Gold Membership where for $120 a month you can attend as many classes as you like.
Upsell 3 - Pro dance package for $200 a month, which allows you to attend unlimited classes and receive 2 private classes a month.

A good upsell path, often referred to as a funnel, can make or break a business. One model that we’ve used over the years is to offer a crazy deal on the front-end (a low priced, deeply discounted offer or a free plus shipping and handling offer) while having several upsells ranging from continuity offers to high end offers. The money is made in the upsells – not on the front-end – in this case. We’ve started multiple seven figure businesses this way over the years, and the model is easily repeatable in almost any niche, but it wouldn’t be possible without a great upsell path.

But it’s important to note that you don’t have to build a business around an upsell path like we did (although that certainly can work). Just adding one or two upsells to your existing offer can greatly increase your earnings with minimal effort.

For instance, we helped another business owner once with a new offer that he was about to launch. We encouraged him to add at least one upsell to it, but since he was behind on his launch schedule, he was very hesitant and didn’t feel he had enough time to do so. So we said to just create a simple offer based on something he already sells, shoot a quick video on his iPhone, and throw it up on a page to see what happened.

The quality of his video sucked, he looked like he was on zero sleep (or high…), yet when he launched his new offer, the upsell made quite a few sales! In fact, the upsell actually MADE MORE MONEY than the front-end offer itself. It was responsible for about two-thirds of the total money made. That means that if he didn’t follow our advice, his launch would’ve been a third the size that it was (costing him tens of thousands of dollars just in those few days).

Upsells don’t have to be perfect, but you need to have them!

So consider offering a range of differently priced upsells to your customers to increase the total of each sale. Your upsell could be a complimentary or additional option on the offer your customer is already purchasing. Remember, include at least one upsell!

For more great upsell ideas and strategies to grow your business through improving your sales funnel, check out his awesome tool: BizFire's Free Funnel Maker & Analyzer

A Unique Way to Increase Your Customers Spend Per Sale: The Value of Offering A Gift With Purchase

Offering a free gift, with a purchase over a certain amount (or just with any particular item), is a great way to encourage people to buy from you, but also to spend more per sale if they have to spend a certain limit. A great way to take this strategy a step further is to make your free gift a sample of other products you want to promote, or a new product you want to encourage your customers to try so as to buy in the future.

For example, beauty brands use this strategy regularly, and to great effect, offering a selection of sample size beauty products in a cute looking case, when spending over $50, $70, $100, etc. in one transaction. Not only does the free gift encourage their customers to buy more beauty products in one transaction, it also allows them a chance to introduce their customers to new products or items they may not have bought previously, without the chance to try them first.

A twist on this method that we used with great success in building a couple seven figure businesses was to offer a free gift in exchange for signing up for a monthly membership program as an upsell. It dramatically increased the conversion rates (by many, many times over). However, the key there was to have the perceived value of the bonus be more than their total investment for the first month. That makes them feel like they’re getting a no brainer offer that they’d be dumb to turn down, yet it gets them into your recurring money maker where many of them decide to stay to make you even more over time. The bonus here has to be of real value to them, which is why we often times would include a physical item as a bonus even for a digital membership program.

Look at what you can offer as a free gift to customers when they spend over a certain dollar amount in one transaction. This encourages your customer to spend more per sale and also gives you a chance to get customers trying new products, if you make those products your gift. Or put a little twist on that method and include a free gift with the purchase of any particular product you want to push, or even as a bonus to push them into a recurring membership site (physical products can work really well here for a bonus even if the main offer is a digital one).

For more great tips to increase your profits and make more money from your sales funnel, check out this tool here: BizFire's Free Funnel Maker & Analyzer

How to Sell People Without Selling to Them? Using Case Studies in Your Marketing.

Social proof is a great way to help sell your product. A testimonial from a satisfied customer can sometimes be more effective than you, yourself, talking about your offer. A great way to make your marketing less “salesy” while still being powerful is to include case studies from people who have used your product/services.

For example, instead of talking about how people need to buy your SEO service, write up an article, blog post, or Facebook post on how one business went from no rankings to #1 rankings and more sales in under 2 weeks with a handful of easy tweaks... and then talk about the process and what your service did. A handful of readers will naturally want to reach out to you to have you do the same thing for them.

This same method can even be used to write blog posts, articles (even ones you can submit to the media), videos, etc. on top of ads you can make. For instance, you could have an article on “how one household decreased their energy costs by 38% with a couple simple tweaks,” and then you can describe what was done, how your product(s)/services helped, etc.. Naturally some people will want to do the same.

So think about how you can use case studies to explain your service/product, and the results customers can achieve, and then do this through articles, blog posts or Facebook posts.

For more great marketing tips to increase your sales, check out this book: 50 Marketing Tips & Tricks Learned After $100 Million in Sales Over 20 Years!

Developing Persistence: Be Successful

Persistence is a personal development ability that will make you succeed in every aspect of your life. This is a trait that has been used by our heroes of the past and our leaders of today. Persistence could be defined as the ability to persist or to continue a journey or an activity despite trials, hardships, and failures. Only a few people in this world are persistent. 

This is the main reason why there are so many talented and intelligent people who are not successful. By reading further, readers will be able to know how to develop their innate persistence hidden in their subconscious mind.

The first method to be persistent is to have a very big and important goal. The goal could be anything that is important to you whether it is about academics, relationships, business, work and others. 

In creating a goal, it has to be of two types and it must be so big that it would somehow be impossible or unrealistic in addition to the fact that the goal must affect the most important people in your life. 

 The second method to develop persistence is to remind yourself of the goal and the importance of that goal at least 3 times a day: upon waking up, upon sleeping and when feeling bored. The more that you remind yourself of the goal that more likely that your subconscious mind will act on it. 

Once this activity is done, working on the goal would now be an important, automatic, routine activity. 

 The next method is to act, act again, act again and act again. This simply means that you keep repeating the same goal over and over again despite facing failures. This does not mean repeating the same tactic, strategy or objective. Change your methodology but never change your goal especially if this is your mission in life and this would affect your loved ones heavily. 

 It is important to follow these methods to be persistent. In following these methods, it is important to always have faith since trials and difficulties will always come our way. Bottom line is the most successful people of our history became successful not because of their talent or anything else but because of their sheer persistence.

Learn Stock Market June 2020

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