What is Upselling?
As an online seller you may lot of time heard about upselling but what does upselling mean?
Actually, Upselling is a sales technique to encourage customers to spend more (or buy more items) with the items are they trying to purchase. Sometimes it's like an add-on to the original products and services they purchased.
The main purpose of upselling is to increase revenue (Increase sales of items) per transaction by persuading customers to spend more money on store products. Flash Sales are a reliable technique to drive traffic and improve sales for any online store.
Konigle's store-wide flash sale shortcut makes it super easy to run flash sales in a reliable and efficient way, saving time and eliminating errors.
This technique also provides good value to customers because it offers them to pay a little more money but wind up with a better deal, It's like a mutually beneficial deal.
For eg, Someone trying to buy a t-shirt but it's a good thing to offer a T-shirt that's 10-20% more expensive but equipped with a better Quality or design. Sometimes offers a combo (2 similar t-shirts with a different design) also so that it suitable with that t-shirt and make look better.
Benefits of Upselling
Increase retention rates: If customers are satisfied with your products then they will return to your store again and again and that makes a high customer retention rate.
Long-term customer relationships: If the customers are happy with your product then they may be likely to recommend the item or store to friends and family members that build a long-term relationship. It helps to build customers' trust in the store.
Increase and boost profits: Upselling definitely helps you in boosting your profits also it provides a good no of sales that help your store or business to grow. Konigle's profit margin calculator helps you quickly find your target cost and product price for products in your store based on your desired profit margin.
10+ Upselling Techniques to Increase Sales
Upselling is a method to read customer mindset about what they like most or which item they are interested to buy. The items customer is interested in or it's related to the original product, then you can upsell them, and its a high chance of high conversion (customer purchase item with the upselling item).
- Every time before buying display recommendations at the bottom
- When customers buy something then display recommendations using pop-ups
- Understand the customer's needs
- Offered a little expensive but higher-quality item
- Offered combo or bundles at discount price
- Offering some add-ons or upgrades for item
- Show Side-by-Side Comparison with other expensive items
- If customers purchases then send follow-up emails to customers (come back for more).
- From time to time reward customers for spending more money on your store
- Use visitor's data to personalize the offers and deals
- Show a good range of similar products to customers