Bump Upselling In Marketing

Bump Upselling In Marketing

This is​ probably one of​ the​ most easiest,​ quickest and most profitable techniques that business people have at​ their disposal yet it​ is​ rarely used.

Let me explain what upselling is. Upselling is​ basically offering the​ customer more at​ the​ point of​ sale

Let me give you​ some simple examples of​ upselling in​ the​ real world.

Say you​ run a​ small website design company and you​ have a​ person on​ the​ phone ready to​ order a​ simple 3 page website which cost £200. While you’re talking to​ the​ person you​ could offer them an​ extra website page plus 5 extra email addresses for an​ additional price of​ £50. the​ normal price for this package is​ £300. you​ tell them you​ are offering this because you​ wish to​ thank them for using your company and this offer is​ only available right now.

Let’s do some figures now…

Before you​ used your upselling you​ had 100 people purchase your 3 page site at​ £200.

100 x £200 = £20,​000 = £5,​000 Profit (25%)

Total profit = £5,​000

Now because the​ upselling offer only costs an​ extra £10 to​ set-up you​ make the​ remaining £40 in​ pure profit!

Let’s say 30% take your upselling offer…

70 x £200 = £14,​000 = £3,​500 Profit (25%)

30 x £250 = £7,​500 = £2,​700 Profit (36%)

Total profit = £6,​200

So with a​ simple upselling offer you​ could add an​ extra £1,​200 profit for every 100 clients you​ sell to! That’s an​ increase of​ 24% which was virtual effortless!

Things to​ remember

· Always tell the​ consumer why you​ are offering this special price and clearly & passionately explain the​ benefits for taking this offer.
· Tell the​ consumer that this is​ a​ limit offer only available right now! This will create a​ sense of​ urgency in​ the​ consumers mind.

Gordon McNevin

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