10 Upsell Strategies That Will Increase Your Profits
By James Faasse
It can be very expensive to attract new customers. For a unique personalized gift shop like TheYouniqueBoutique.com, a company can cut down on those expenses by "upselling" to those new customers. For example, let's say you're selling a personalized photo quilt with a
simple photo layout pattern for $159.95. You tell people they can upgrade to a more complex photo layout pattern on the personalized photo quilt for only $10.00 more. Or perhaps when the upgrade the quilt pattern layout they receive a discount gift certificate, which the customer can use for a later purchase or pass on as a gift for whom they are having the personalized photo quilt made for.
That's upselling! Your goal is to get more money out of the first sale. Below are ten upselling strategies you can use to increase your profits.
1. Deluxe Upsell-You could sell a basic product and tell people for a little more money they can receive the deluxe personalized gift edition.
2. Money Upsell-You could offer people the rights to sell the product they are buying from your business as a reseller of unique personalized gifts. You could charge an extra $30 dollars to get the reproduction rights.
3. Discount Upsell-If you're selling a product people may order again in the future like personalized wedding cake toppers, you could offer them a figurine option of one standard wedding cake toppers body with one custom wedding cake topper body at a discount.
4. Time Upsell-If you're selling a product or service people subscribe to, like a blogazine, you could tell them if they subscribe for two years instead of one, they can receive it half
off the cover price.
5. Quantity Upsell-This is similar to the discount upsell. The only difference is you increase the discount by how many personalized cake toppers they order. If they order 3 it's a 10% discount, if they order 5 it's a 15% discount.
6. Package Upsell-When you're selling a personalized baby shower gift you could offer similar products in a package deal. Tell the people the other personalized baby gifts are cheaper with the package deal versus purchasing them separately.
7. Affiliate Upsell-When you're selling a unique personalized gifts you could offer someone else's product as an upsell. You would have to make a commission on the product in order to profit.
8. Free Upsell-You could offer a free sample or trial of your custom bridal jewelry (your first sale would be free) and then tell people if they order the full set right now they will get a discount on wedding tiaras and bridal head pieces.
9. Extra Upsell-There are many things you could charge extra for at the time of sale. It could be personalized gift wrapping, imprinting, custom designs, etc.
10. Extended Upsell-If your personalized gift comes with a warranty, you could ask people if they would like to extend the warranty one more year for only $30.
In conclusion, you can use one or all these strategies to increase your online personalized gift shop profits at the point of sale, or for any online store for that fact. Don't be afraid to use your imagination to come up with other upsell strategies. Use those category catalog pages as Upsell Landing Pages!