4. The common cross-sell
Why is this so
compelling?
•You’re eating anyway
•It’s not that much more
•If you get fries, do you
want to make it a meal
for $1 more?
5. Why it works?
Adding on features that provide tons of
value at little or no additional cost to the
business accounts for a greater net profit
per transaction.
6. Why it works?
At this point as a consumer, I’m
thinking...
why would I pay $79/mo if I can
pay $35/mo?
7. Creating the entry level
• What does an iPad
cost?
• How much did you
pay for your
current iPad?
• Are you willing to
upgrade for only
$499?
8. Making it an easy choice
• Will 16gb be enough?
• I can double my
storage for only $100
more (200% storage
for only 20% more in
cost)
• For only 26% more I
can get WiFi + 4G.
9. Making it an easy choice
• Should not increase
purchase total by
more than 25%
10. Create product bundles for
an easy upsell
• Get a basic coaching
package for $999.
• Get our deluxe
package which also
includes 3 hours of
1:1 mentoring for
$1299
• Get all of the above
and a signed copy of
my book for $1500
11. Create product bundles for
an easy upsell
What I was going to buy.
What I ended up buying.
They made an extra $27!
12. Leverage the Power of Social
How many other “smart consumers” chose
one option over another? This works for
verbiage such as “Most Popular” as well.
13. Leverage the Power of Social
Other Customers were looking at:
•Similar Items
•Complementary Items
14. Can you use 2?
•We might run out!
•Quantity Discount!
•Friends & Family?
•Gifts?
Source: http://www.squidoo.com/Techniques-To-Upsell
15. Can you use 2?
Limited time offer.
You’re limited to 2.
It’s a $249 Thermostat!
Can I resell it?
Source: http://www.thenest.com
16. For a limited time, upgrade at a
special price
Perfect to put on a
thank you page.
http://www.squidoo.com/Techniques-To-Upsell
17. Bought from a Competitor?
Upgrade!
•Perfect for a dedicated LP
•Call out your advantages
•The ultimate Upsell!!!
18. Add 1 more item and
shipping is FREE
http://www.squidoo.com/Techniques-To-Upsell
19. Upsell based on Fear of Loss
•Extended Warranty
•Dedicated Tech Support
•Managed Services
•Upgrades for Life
http://www.firepolemarketing.com/blog/2012/01/31/upselling-done-right/
20. Massive Margins in Warranties
•Account for 45% of Best Buy’s
Income - Business Week
•Margins typically are 60 to 70%
•The Math:
•Spend $1 on a Warranty
•$0.60 is profit for Retailer
•$0.20 is paid out in claims
•$0.20 is profit - Insurance co.
21. Upsell based on additional training
•Additional training/coaching
•1:1 consultations
•Group Webinars/Coaching
Low Cost ($49/mo for 15
attendees)
22. Upsell based on additional training
Low Cost ($49/mo for 25
attendees)
26. Targeted Cross-sell Post Purchase
•Coupons Post Sale
•Thank you page
•Inserts with Paid Invoice
http://www.ipowerweb.com/iboost/profit/selling_products_or_services/increasing_sales/articles/03030.html
27. Becoming an Affiliate
•It has to make sense.
•Google is your friend
http://www.ipowerweb.com/iboost/profit/selling_products_or_services/increasing_sales/articles/03030.html
32. Cross-selling based on previous
purchases
•Tagging System
•Triggers based on Purchases
Upsells Based on:
•Date Range Criteria
•Promo Code Criteria
•Product and/or Qty Criteria
•Subscription Plan in Cart
•Order Total Criteria