Improve Revenue by Using Smart Upselling Strategies
Every business knows that to increase your average order volume, upselling is a smart way to go. Upselling is when you offer customers an additional product or service on top on one they’re already purchased. In some cases, it comes with a discount or other kind of incentive. Although this is a great strategy to work with, it is one that takes time. If you’re continually creating unique offers and communicating with customers, it can be more time-consuming than necessary. A great way to solve this issue is to automate parts of your upselling strategy.
Create a template with offers
Use email marketing to create email templates based on the upsell offers you are offering. If your CRM tells you which customer bought which product/service, your email marketing platform can send out messages to the people who have purchased specified products. You’ll need to connect the two or use a CRM that has an email marketing function, but this extra bit of time setting it up can have significant benefits when it comes to your business’s bottom line.
Update your marketing materials
You can also work upselling into your marketing strategy. Get creative and feature new offers or upsells in any newsletters that you send out to clients or customers. For example, you may choose to send out relevant products or services for those who have just purchased one of your core items. You can even include a deal that’s just for the people who have purchased from you recently. Remember to keep upsell products relevant – they should have a clear connection to the core products your customers have already purchased.
For help growing your business and getting it off the ground, contact the Economic Development Collaborative to schedule a no-charge appointment with a qualified business advisor. We’re here to help.