5 simple up-sells and down-sells that can increase your profits

5 simple up-sells and down-sells that can increase your profits

I'm sure you've all heard a server ask "Would you like fries with that?" and you said "Yes, yes I would, thank you".  This is the most basic up-sell that has been around ever since there has been restaurants.  You're already locked in to purchasing one meal and the server asks if you want something additional.  Now you're already hungry and have nothing in front of you, so a side of fries sounds pretty amazing right about now lol. 

Nowadays everything comes with fries since it's all packaged together.  This doesn't stop the teenager at the intercom of the McDonald's drive through asking if you'd like to try some new burger their pushing, does it?

If you really look around, you'll notice that up-sells are literally everywhere.  You'll either get fries with your burger or a free car wash with every $55 worth of gas you purchase

There is a simple reason that almost every single business offers an up-sell, regardless if they profit off of it or not.  On the other hand, there is the down-sell which not as many companies offer, but it will still work to put some money in your pocket.

Let's take a peak at what up-sells and down-sells are and how they can help you with increasing sales both online and offline.  The bottom line though, if someone is interested in purchasing something from you and you offer then a nice little enticing nugget, they'll likely bite and add it to their shopping cart whether it's physical or digital lol.


Let's get to it, shall we


1. Keep the up-sell related to the product, or offer more of the product if possible
It doesn't matter if you're selling groceries or computers, if you keep your up-sell closely related to what the buyer is originally there for, you'll increase your sales.

One of the most recent up-sells I saw is when I purchased a new TV for my living room since my "old school" 40" flat screen just wasn't cutting it anymore.  Now I loved the TV, but it was failing and needed to be replaced (RIP tv).  Now I purchased a nicer TV and when I opened the box I saw a sort of coupon for an extended warranty on the TV.  The coupon had an expiration date on it which showed a sense of urgency to the people who purchased the TV, which was awesome in my opinion.  Now I didn't take them up on this offer because I've never broke a TV, but I have had them burn out after 5+ years of use.  Just imagine how many TV's this company is selling and how many times they are taken up on that one time offer for an extended warranty?  They put a good amount of cash in their pocket just with this little offer.

Now if you're offering lower priced products, under $75, you can give discounts on similarly priced items that you offer.  You can say something like "With the purchase of this product you can get a XX% discount on your next order!"  Or something along those lines.


2. Test your higher and lower pricing points
You should never assume that you'll make money off of your higher end up-sells, because that doesn't always happen.  People just spent a bunch of money on your product or service and they don't always want to spend more even if it's related.  Shoe stores usually offer discounted socks and grocery stores will have discounted candy bars at check out, and there's a reason for this.  People spending a bunch of money don't always want to be pitched something that's expensive, but a little addition they can splurge on

Even if you break even on the small up-sell, you're still moving product and people will remember you.


3. Test your down-sells
Now there are a couple main ways you can work with down-sells.  The first way is that you can offer a different item at a lower price if your potential customer rejects the first up-sell.  The second is to offer the same item, but at a lower price but adding on some bonuses.

Both of these down-sells work, but you will still need to do a lot of split testing in order to fine tune everything.  If you go with the bonuses, you will need them to be something that can be delivered digitally for best affect.  This would mean sending out a free course, coupons, whitepaper, PDF, etc.


4. Think of something like a problem solving service
This is exactly what coaches and consultants work with, they help others fix something that they can't do themselves, or they don't want to learn by themselves lol.  A lot of the time people will come to you with specific questions and when they hear you go into detail about it, they'll just ask "Can you do it for me?".

If you have something already to go for them, you can fire it up and get to work.  If you don't, you can refer them somewhere that can do the job for them, and hopefully you're getting a commission out of it lol


5. Don't be afraid of high priced offers
A lot of times you'll see low priced up-sells coming around, but that doesn't mean you can't do high priced up-sells at the same time.  Mainly you'll want to figure out if your audience can afford the higher end up sells before you start to push them.  This is because people might get put off if they see a high end up-sell in their checkout cart when they're purchasing a $15 item lol.

Just remember, if your clients have the money, they will spend it on luxury.  For this reason you will see a lot of wedding consultants up-sell something like a premium white glove service to their clients.  This doesn't cost them much to do but adds a luxurious feel to the atmosphere, which is what a lot of people want at their weddings.




In Conclusion:
You'll need to split test all of your up-sells and down-sells to make sure what works best for you.  You may get it right the first time you try it, but there's no guarantee of that.  Take your time and figure out the best combinations.  Once you do, you'll notice a lot more sales coming in because of your up-sells or down-sells



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Thanks!

Razzy