Are you using an upsell with all your offers? Did you know that 60% of your customers want and expect an additional sale? Upsells are used by all successful salespeople, for example, “Do you want fries with that?”, “Do you want caller ID?”, “Do you want regular, deluxe or digital cable?”, “Do you want a extended warranty with your new TV? The list goes on and on. What can you offer as an upsell?
Rule 60 X 60
Did you know that your customers will buy an upsell 60% of the time for 60% of the original purchase price? Of course, your upsell should be closely related to the original offer, for example, hamburger – fries, appliances – warranty, car – siding, etc. Your upsell can have up to three options not including color or size, for example, French Fries: Curly, Spicy, Homemade.
More upsells
You can and should offer a second upsell for 60% of the first upsell. Don’t forget to keep it related, for example, chips, salsa or poutine.
With the right product, you can even offer a third party. Although there is no empirical data for this, observation suggests that this upsell may be 60% of the previous upsell or 60% more than the first upsell. An interesting anomaly!
Whether to use 60% more or 60% less for the third upsell is not subject to any strict rules. You will need to test this to determine which is best for your offer. I offer the following as a guide, not a rule. If your offer is for a basic item, use an offer of 60% less. If your offer is for a discretionary purchase, use the 60% plus offer.
Upsell Hobby
Before you get carried away with the upsell mania, let me suggest that you offer no more than three upsells with no more than three options each. As I said above, this does not include size or color. More than three upsells can make your customer think they’re in for upsell hell and could put them off even considering future offers.
conclusion
By using this technique correctly, you should be able to increase your profits by at least 50%. Not a number to sneeze at considering how little work it can take.
