Getting new clients or customers is the goal for almost every business, right? Well, we can all pretty much agree that doing so can be a pain. However, increasing revenue is possible without having to consistently acquire new clients. Don’t worry, I’m not talking about increasing your prices. I’m talking about upselling, which can be done with the help of content writing services and your website or through in-person techniques.
Picture this: you are going through the drive-through at your favorite fast-food chain. You place your order and you get a response asking “would you like to make that a large?” In most cases, you are caught off guard in these kinds of situations, you may be rushing, you may not have heard correctly, but you also may just go with it. Your response is likely to be a confirmation that you do, in fact, want a large. Well, congratulations, you have just been a victim of upselling!
What is Upselling?
A straight-forward definition
Upselling is a technique that is commonly used in sales to induce the client or customer to purchase items that are more expensive, upgrade their current purchase, or add-on more items in order to make the sale more profitable.
It is what allows you to increase the value of your service along with the overall price by adding on smaller line items.
Utilizing email marketing within your business works in a similar fashion to upselling.
Let’s Not Get Confused With Cross-Selling
Yes, they are two different things
Many people tend to mix these two up. While they are similar, they are two different kinds of selling techniques.
Cross-selling is a way for you to add on a different product or service that is typically related to the original. On the other hand, upselling is usually an improved version of the product or service that the client was originally interested in.
Let’s go back to our fast-food order from before. You ordered a meal and upgraded it to a large – this is an improved version of your original order or in other words, an upsell.
This time, all you order is a sandwich. A cross-sell technique that may be used is to ask “Would you want fries with that?” You see, the item is not a sandwich, it is not an upgraded sandwich, but instead, it is something that commonly pairs well with a sandwich and may entice the customer to pay more money.
The Benefits of Upselling
Because everything needs a purpose, right?
Even if you have a huge pipeline of clients coming in, there is still so much opportunity to increase your revenue with your existing ones.
In fact, upselling your existing clients is about 5-10 cheaper than obtaining new ones.
One of the most important things for a business to do is to retain customers and increase profit. Truth be told, it is typically easier to upsell your existing customers than get new ones. Your content writing services can take you far and help you land the client, but then it’s time to get personal.
Even if you are not communicating with your clients directly, you can still add “add-on” items on the checkout page of your online store, offer multiple packages or upgrades, and of course, offer additional value.
The Key: Offering Value
This is how you can seal the deal and make more money
Trying to upsell your clients or customers puts you in the perfect position to put yourself into their shoes.
Think about it: If someone wanted you to pay more money for something that didn’t provide you additional benefits, chances are that you won’t go with it. You might be even as if the company was taking advantage of you.
When you are working on an upsell, it is crucial to not only provide value but also be transparent with the pricing and all of the information that is necessary to the client. Provide a breakdown of what they will get, help them understand the benefits and value, make them feel comfortable or even excited about giving you more money for what they are getting.
The first step is to start utilizing content writing services so that you can start acquiring clients. Then work towards increasing your revenue through both new and existing clients!