Using the Upsell Strategy in Your Business to Create More Revenue

Upselling is not a new concept.  It’s actually deeply rooted in “regular” sales techniques.  Think about how many upsell opportunities you encounter when purchasing virtually anything.

For example:

• “What size fries would you like with your burger?”
• “How many ink cartridges would you like for your new printer?”
• “What type of car wash would you like with your oil change?”
• “What kind of dessert would you like from our wonderful dessert menu?”
• “You can get a discount if you get your auto and home policy with us; let’s run the numbers real quick.”

You can see from this short set of examples how often the upsell strategy is used.  In these examples, I purposefully used an “assumptive close”, which is an open ended question that can’t be answered with a yes or no.  While this is somewhat of an “advanced” selling technique, you can apply the same general lesson in your own business.

Once you have established a relationship with a new client, you know exactly what their challenges are and the solutions they need.  A great way to create more revenue is to upsell them to an offering that further supports them in solving their problem.  This can be in the form of one of your own products like an eBook or additional services, or, it can actually be an affiliate product that closely aligns with your business strategy.

Affiliate marketing is a common practice in the Internet Marketing world.  It’s simply a way for you to earn money (commission) from promoting another person’s product to your clients.  As long as the product fits your clients’ needs, then it can be a win-win-win situation.  Your client gets the additional help they need, you and your partner get more revenue.

Another great benefit to affiliate or partner marketing is that you show your client that you are truly interested in helping them solve their problems.  While you may not be able to help them with everything they need, you are going out of your way to provide them with other solutions.  This saves them time from having to research other options and creates more trust in you as a problem solver.  You also automatically position yourself as an expert because you intuitively know what they need.

An example of this type of marketing upsell is an interior designer who offers her clients an eBook from a professional organizer on how to make a home office more efficient.  Or the designer could offer her client an introductory session with the organizer at a discounted rate.  (She would likely receive a commission on the sale and the organizer is introduced to a new client he/she might not have connected with).  While the interior designer has designed and decorated a beautiful office, the professional organizer can share tips and techniques on how to make that office function more efficiently.  With the knowledge from the eBook or the introductory session, the client can then use that information to transform their home office into a primo working environment.  While the interior designer may not be an “organization” expert, she can provide the resources for the client to do it themselves.

The most important aspect of upsell marketing is that it is done with the utmost professionalism and respect.  If you choose to partner with an affiliate, make sure you take the time to get to know the provider and ensure they meet your professional standards.  Don’t endanger your relationship with your client by providing shoddy “referrals” to make a quick buck.  This will reflect poorly on you and ultimately impact your relationship with your client.  Which in the end means less revenue for you.

There are many different upsell strategies to use in your business.  Do you use any in your business right now?   Which is your favorite one?  If you don’t use an upsell strategy in your business now, what could you do?  Let me know how you can apply this smart, simple strategy to your own business today!