The sixth step in Lifecycle Marketing process is to Upsell your Customers. This is the practice of selling additional services to customers who have purchased from you.
The upsell typically comes after you have delivered and satisfied your customers but in some scenarios it can happen right after they have made a commitment to buy from you. This is the time when they have the greatest confidence in their decision and are likely to listen attentively when you offer supportive products or services. I like to call it the “you want fries with that” stage, because one of the most common upsells is when you get offered an add on item to the purchase that you have already made. It s a complimentary purchase and it feels more like an offer rather than an attempt to sell you something additional. McDonalds employees are experts at the upsell.
Do you know how many fries, shakes and apple pies they sell just because they ask?
In your business, you’ll have to find your own version of French fries. Here are some examples. Accountants may upsell business consulting. Did your prospect just buy a book? May be, they’d like the companion CD or DVD’s with additional content. Rather than just sell them a flight or a hotel booking perhaps you can offer them a guided tour when they’re there. Upsells are typically a great way to increase the average ticket price and often have great margins.
Imagine the impact on your business if you could increase every one of your sales by 10%. The best part about that 10% increase is it traditionally takes the least amount of work and has the highest percentage of profit. That 10% could help you take your business to the next level.
And once your customers are happy with their purchases and you can move onto step seven, the final step in Lifecycle Marketing which is Generating Referrals.