You probably are familiar with one of the world’s greatest upsells.
When you take the offer to upsize your meal, McDonald’s would have increased their profit from you. Might not seem much, but done in scale – this increases their profit by A LOT.
I don’t frequent Starbucks a lot. But I recently visited a Starbucks cafe nearby and noticed them doing a double upsell.
Upsell #1. When ordering a drink, the cashier would first ask if you would like to upgrade from a Grande (medium) size to a Venti (large).
Upsell #2. After that, the cashier would then ask if you like stronger coffee. If you said yes, you’ll get an extra expresso shot added.
Upselling is an effective method for a business to increase its revenue. Most businesses think they need more customers when they can actually 2X their revenue with their existing customers.
Every business needs to upsell.
It’s finally here. Your new Sony PS5.
You arrive home late after work, quickly take your dinner then sit down in front of the TV to unbox your new PS5.
You carefully unwrap the power cables, admire the console, plugged it into your TV, and turn it on. The Sony logo appears and you hear the sound chime. Nice!
Suddenly you realize.
Wait… where’s the controller? Oh wait, you bought a store demo unit and the seller didn’t sell you a controller. Now you’re stuck with a toy, that you can’t play. Your joy is quickly fading and you become frustrated.
That’s why upselling is important.
If only the seller had upsold you a controller, with your PS5 purchase.
An upsell is supposed to make it better for the customer.
Most businesses think it’s a way to bring in more revenue. (Although it’s a nice benefit. ) So they try all types of weird upselling, and then cry when their customers don’t take the upsell – or even worse, call them a scam.
But you don’t call McDonald’s or Starbucks a scam, right?
Because upsells make it better for you as a customer.
Having more fries makes the meal better. Having wine with your steak makes the dining experience better. Having controllers (maybe 2 of them) with your Sony PS5, makes the experience a WHOLE lot better.
What is going to make your customer experience better?
Start thinking, “What is going to increase my customer’s satisfaction?”
- Would better racquet strings help them play better, when they buy a new tennis racquet?
- Would a personalized training session, help them achieve their weight loss goal faster?
- Will having a tripod with a camera purchase, enable them to take better photos?
That’s the whole point of upselling.
It focuses on improving your customer’s experience. The byproduct of that would be happy customers. Happy customers will turn into your fans, who will then do a few things:
- Buy from you again.
- Tell other people about your business.
This helps grow your business. The money is made in the after phase.
Why are businesses not doing this already?
Two reasons – info overload and internet gurus.
There is simply too much information online. It’s here and it’s real. “But Reuben,” you might say, “don’t we need more information? It’ll help us make better decisions. I joined many masterclasses and webinars, and they all tell me to learn more!”
Nope. All this information will simply lead to decision paralysis.
You scroll online and you’ll see posts about email marketing, SEO, content marketing, social media, TikTok, and Facebook ads. Where do you start? What do you do? Too often, the answer is nothing – and doing nothing is the worst choice you can make.
Here’s how to spot an internet guru: They only speak about how much they make and how little they work.
And the problem is, it works.
People generally get attracted, because we are wired to choose the path of least resistance. A hack to earn millions in just 1 hour? Sign me up!
Desperate businesses go around looking for help. They get attracted to gurus who promise a quick fix, a one-size-fits-all marketing hack, that will seemingly solve all their problems. These businesses end up trying tactics after tactics, without actually having a strategy in place.
When all they really need – is to figure out how to enhance the purchasing experience of their existing customers.
It’s your turn.
There is nothing wrong with finding new ways to attract leads. But finding happy clients, retaining them, and building an awesome customer experience is where you’ll generate your revenue.
Now, I’m curious. What are your ideas to enhance your customer’s experience as an upsell? Share them in the comment section below.
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