In any service business, maximizing revenue from existing customers is just as important as acquiring new ones. One effective strategy is to leverage the power of an upsell flow, which offers additional products or services to customers who have already made a purchase.
However, deciding what to sell in the upsell flow can be challenging. In this blog post, we will explore three key opportunities.
Plus, you’ll see valuable frameworks to help you make informed decisions on what products to include.
Order Bumps
The first opportunity to upsell within the checkout process is through an order bump. An order bump is an extra offer presented on the checkout page, allowing customers to add something else to their order with just a checkbox.
This could be expedited shipping or a premium version of the product they’re already purchasing. It’s an effective way to increase average order value while the customer is still in the buying mindset.
One-Click Upsells
The one-click upsell is a powerful tool that allows you to offer additional products or services immediately after a customer has completed their initial purchase. Unlike an order bump, a one-click upsell requires just one click without the need to re-enter credit card information.
This eliminates the risk of losing the initial sale and presents an opportunity to increase revenue by offering complementary or related products.
Thank You Page Offers
After customers have encountered the order bump and one-click upsell, they are directed to a thank you page.
This page represents the final opportunity within the one-click upsell flow to offer another product or service.
Here, you can promote affiliate products or collaborations with other companies to provide customers with a wider range of options beyond your core offer.
Key Frameworks for Deciding What to Sell
Now that we understand the three main opportunities within the upsell flow, let’s explore three frameworks to help you decide which products to include:
- Selling Value: One effective approach is to sell value by offering more of the same product or service that customers have already purchased. This can be done by providing discounts for bulk purchases or offering additional items for free. Selling value incentivizes customers to buy more of what they already love, leading to a no-brainer decision.
- Ease and Speed of Implementation: Another strategy is to offer products that complement the initial purchase. Identify items that enhance or complete the customer’s experience, ensuring a seamless integration with their previous purchase. For example, if you sell fitness equipment, offering workout accessories or nutrition guides as upsells can be highly effective.
- Future Pace a Problem: Go ahead and offer the most likely next step for the customer. What will they need once they’ve achieved their current transformation?
Conclusion
Incorporating a well-designed upsell flow can dramatically boost your revenue and customer lifetime value. By utilizing order bumps, one-click upsells, and thank you page offers effectively, you can maximize the potential of each customer interaction.
Use the frameworks of selling value, speed of implementation, and solving future problems to make informed decisions on what products to include in your upsell flow.
Remember, a well-crafted upsell strategy not only benefits your business but also enhances the customer’s overall experience.
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