Finding new customers can be very expensive, so it makes sense to squeeze some extra value from as many customers as possible while also offering enhanced value on the extra purchases your customers make. You can do that by adopting a number of profit-enhancing “upselling” strategies to encourage customers to spend more.
For example, let’s say you’re selling a health supplement for $20 a pop. Tell people they can buy another one of your products for a $5 discount if they add it to their order. That’s upselling! Your goal is to get more money out of the first sale of each and every customer.
Here are eleven upselling strategies you can adopt to increase your profits.
1. Deluxe Upsell: Sell a basic product and tell people that for a little more money they can receive the deluxe version instead.
2. Money Upsell: Offer people the resell rights on the product they are purchasing from. You could charge an extra $30 dollars to get the reproduction rights. This is especially effective for information products such as e-books.
3. Discount Upsell: If you’re selling a product that people might order again in the...
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