In the process of building my business, I’ve made more than my share of mistakes. The silver lining is that I get to pass the wisdom I’ve learned on to you. It’s always easier to do something right when you’ve got someone guiding you past the ways it can go wrong.
However, today’s post is all about something that recently worked really well in my business. It’s something you can apply quickly to your next promotion.
Ready? Let’s talk about upsells!
What Is an Upsell?
First, let’s get our definitions straight.
Say someone buys a program or product from you online. They fill in all the credit card details and finish the transaction completely. They are officially now a member of your program.
Before you take them to the purchase thank-you page that’s when you can offer an upsell. You are giving your new purchaser one more opportunity to buy from you within the same interaction.
Pretty cool, right?
Putting Together Your Upsell Offer
Three vital things to consider when doing upsells:
- What is the best upsell you can offer as it relates to the program you just sold?
- How do you price your upsell?
- The flow of the upsell process.
I’m no expert in upsells. I’ve been in business a while, and just recently started using them.
But the success I’ve experienced has shown me that there’s a certain flow that’s really important to the overall strategy of your upsell.
An Example from My Promotion
In my most recent promotion, Webinars That Convert, I welcomed over 1,000 new members into the program in just under two weeks! That alone was awesome…but even more awesome was the fact that 58% of those new members purchased the upsell I offered! That generated an extra $170k in revenue!
Here’s how I designed that upsell—both the product and the process.
- I put together a product that perfectly complemented the program I was selling. In this case, it was a pack of 5 slide deck templates. You need a slide deck for your webinar, and these templates gave purchasers five unique, polished looks for their presentation. They also made the setup process a lot simpler.
- I had the template pack price fixed, BUT I offered buyers three different options. They could purchase the pack in one fell swoop, they could split up the purchase into two payments, or they could purchase a “lite” pack of just two templates.
- I structured the upsell offer with a great deal of strategy. Here’s how it worked: if someone saw the offer and bought the five decks at full price, they would never see the two-pay offer or the lite version. You wouldn’t see the lite version unless you declined the first two offers. See how it works based on the potential buyer’s behavior? It also allowed me to learn more about the segments of my audience.
I go through a lot more the details of how to create your upsell (with ideas you’re welcome to steal!) and structure your offer in the podcast. Also, there is ONE THING you do NOT want to do when creating an upsell. I share the “don’t do this” details in my podcast as well. Click here to listen to it now!
For this week’s free download, I’ve included the actual upsell page I used in this promotion, so you can see exactly what I did and make it your own.