[30Daysto30K] Day 13 - The OTHER Upsells I Use

So far in the 1-click upsell convo, I've spoken about some rather unique ways to add upsells (pay off your payment plan, trial membership, upgrading membership, etc), but I have yet to speak about the "standard" upsells you can also use. 

 

In other words, there is always an opportunity to simply offer another complimentary product... or two.  when you do this correctly, you can see anywhere from 20 to 30% conversion on your upsells and add quite a bit of revenue.  In fact, when you see "Cold Offers" on Instagram for lower prices (like sub $50), this is the strategy they are deploying: low-ticket front end offer (self-liquidating) with a string of upsells. 

 

I don't always love the self-liquidating offer strategy because you have to get a LOT of pieces right to make the whole thing profitable. But with that being said, IF you do have a fixed-priced product for sale at ANY price, I DO recommend you consider adding an upsell or two.  

 

Some things to consider:

 

 

It should compliment your offer, not COMPLETE your offer.  If your original offer feels "incomplete" without this added upsell, your customer will feel slighted. But if it feels like a great ADDITION to the core offer it can do well.

 

An example of this would be: selling your offer on how to do a 5-Day Challenge Launch... and the upsell is "how to scale it with FB Ads."

 

 

We find that the PRICE is always the biggest contributing factor to conversion rates.  Consider that you are selling something in a 1 to 4 min video. So you don't have much time.  It needs to be short, sweet and to the point. And if the price is too big of a jump from the original offer price, it can convert very poorly.  Now... again there is no direct science to this... but consider the folliowing:

 

If you sold a $47 front end offer, it would be a hard jump to go to $997 in a one click upsell and EXPECT a strong conversion rate. 

 

We went from $47 to a $497 and we had 3% conversion.  I dropped the price to $197 and we went to 22%.  SO... testing your price point here is ESSENTIAL. One "guideline to follow would be to keep something in the $97-297 range.  Not a hardfast rule, but a good guideline to work from.  

 

 

Yes, you can string multiple upsells together... although the more you do, the worse the experience.  Here is what I suggest: One Upsell for a core training ($97-$297) and then go BIGGER for something that is higher-touch and VIP.  Don't just string together 3 or 4 other courses and pitch them individually.  

 

 

Inside most checkout software solutions (like Samcart) you can create decision-tree paths where you make a DIFFERENT offer based on whether on not people say "yes" or "no" to the previous offer.  I loooove the idea of offering a DOWNSELL that is simply the payment plan of the original offer they said "no" to.  For example... you have your $47 core offer, then Upsell 1 is a $197 course.... if they say NO, you offer the same course for 2 or 3 payments.  NOW you get two tries to get the sale! 

 

 

If you decide to create an offer with upsells and downsells (especially if doing a low-ticket Self-Liquidating Offer... draw the sequence out and run the numbers.  For "most upsells" (unless you are going for high price!) you want to aim for 20 to 30% conversion rate on the upsells. So... run some scenarios to see what it does to affect your bottom line. You should be able to come up with scenarios for your Average Order Value... and if you choose to run paid ads against this you can compare it to a COST PER CUSTOMER AQUISITION number.  If your cost is less than your AOV... you are in business! 

 

 

Ok, I wanted to add this somewhere and not make it it's own "day." But this past year, we added the $200 DEPOSIT fee to BBD LIVE as the upsell to Business By Design.  This is REFUNDABLE upon arrival/check in... so it's not really a "money-maker" per se, but I loved the idea of making the event registration process quick and simple.  We have about 35% of people register for BBD LIVE right then and there... and if it's saying anything, this past BBD LIVE had our MOST total registered EVER! 

 

 

Here is the UPSELL SCRIPT I recommend using for any of these upsells we covered: