5 Profit Maximising Online Upsells

Profit Maximising Upsells

Selling online can be a challenge and this is something that many business owners must wrestle with on a regular basis.

If you can convince people to buy from you online, then you can potentially drive a steady stream of sales that will be nearly entirely automated.

This allows you to earn a passive income and make money while you sleep and relax, or it can give you the funds you need to funnel back into your business and scale at an unprecedented rate.

But this shouldn’t be the end goal!

Selling once is impressive, but selling twice – or selling more – is even better.

What you may not realise, is that getting someone to buy from you is the “hard part.”

The biggest barrier is opening the wallet and entering the details.

If you get your visitor to that point, then you’ve been highly successful.

But then why stop there?

It will now be considerably easier to convince your audience to take the next step and buy again… so make sure you don’t miss that opportunity!

Here’s how you can do just that by offering upgrades and upsells!

1. Premium Edition

One option is to offer a premium edition or a special edition.

People love buying the most high quality version of something and they hate knowing that there is a more premium option available.

Think about it: if you just convinced someone to buy a product for $50, why wouldn’t they pay an extra $10 to then upgrade that to the “ultimate edition.”

This works great for physical products, but it can also be very effective with digital products.

For example; your Premium ebook could come with an extra chapter, supplementary information, or even an audio recording.

2. After Sales Support

Offering support is a great way to add value, especially if your product is an app or software solution.

Even for information products though, offering some kind of direct access to the author or experts can be HUGE.

How about membership of an exclusive group on Facebook, for example?

3. Bonus Copy

I am sure you have seen the offers in big grocery stores, “buy one get a second for half-off “.

If your product benefits from multiple items, then this is a great and very simple way to upsell.

Buy one for $20 or two for $30… it’s a no-brainer!

Even for digital products this can work well if you have DRM*: just offer the second download as a gift!

In future, I can see this is going to be a very common option when buying NFTs.

4. Subscription Upsells

Likewise, if your product is something that benefits from recurring orders or ongoing support, then you can also offer subscriptions.

And if you already offer subscriptions… then how about selling a longer-term, or subscription upgrade for even more money?

5. Money off the Next Product

Finally, one of the oldest tricks in the book is to offer money off the next purchase.

This works because it invites the next sale before you even have something to offer.

Promising money off the next purchase helps to build loyalty and trust with your audience.

You also give your customer flexibility in how they redeem their offer.

It’s like a loyalty points system!

There are many ways to upsell to your customers.

These are just a few of the ideas you can use online

For Bricks and Mortar businesses, check out my earlier article on UpServicing.

*Digital Rights Management

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Written by 

Co-Founder & CEO of Link Management Group. An Investor & Coach to Small Business Owners, for the past 30 years I have helped startup and early-stage businesses to enter new markets and achieve sustainable growth of both revenue and profits. I have experience across a diverse range of sectors including central government, information services, software, health insurance, pet products, couture fashion, entertainment and aviation.  How can I help your organisation accelerate growth and achieve its full potential? 

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