Upsell Online Marketing – An Overview

With the new year already started, many businesses are considering their online marketing strategies for 2020.

Deciding what to do can be difficult. You want to grow your business, but you also want to ensure you’re investing in the right strategies.

One of the most effective ways to do this is by looking to the future. By considering the data concerning consumer behaviour and applying this to your target audience, you can create more effective strategies for marketing and growing your business.

The Power Of Upselling

Upselling is a technique commonly used in e-commerce where customers are encouraged to purchase additional products or services within the same transaction. In marketing, upselling is used to encourage consumers to make a purchase they may not have made otherwise.

When a consumer shows an interest in a product or service, marketers can use various techniques (e.g. upselling) to get them to purchase that product or service. Upselling can be used to encourage the purchase of a product or service that’s complementary or in association with another product or service.

According to HubSpot Blogs’ analysis of more than 70 million email marketing records, the average order value of a consumer who has received promotional email is $27.83. And the vast majority of those consumers (more than 80%) have received at least one promotional email before they made a purchase.

This means that providing great service and a pleasurable experience during the purchase funnel can lead to huge gains in retail sales. To learn more, see our blog post

Why Upselling Works

The key to using upselling effectively is to understand its various techniques and how they work. Here are some of the most effective methods – and examples of how they can be used in practice.

Product Bundles

One of the simplest and most effective ways to use upselling is to bundle products. When a company bundles their product, they are essentially providing additional value by combining a number of products into one. The most successful businesses will use a variety of marketing techniques, including upselling to get their products bundled. For example, if a business offers both a women’s and men’s shirt, they may use upselling to get the customer to purchase the matching set (bonus points if they also include the matching tie!).

This technique can be effective because it provides customers with more value than they would have acquired individually. The key is to make sure you offer customers excellent value in the forms of discount coupons, special deals, and bundled products. If you can do this, you’ll be able to significantly increase your revenues.

Cross-sell

Cross-selling is a technique where a business encourages a customer to purchase a product or service that is not necessarily complementary to what they originally bought. This can be effective because customers might not have known they needed the product or service they are now purchasing. Cross-selling allows a business to show they have sufficient supply of the product and to encourage customers to purchase more.

For example, if you sell sunglasses but the customer also wants to purchase a watch strap, you can use cross-selling to get them to purchase the sunglasses as well. The key to using cross-selling effectively is to make sure you offer customers a variety of products they may not have known they needed. As long as you provide value in the forms of better quality, reduced prices, or unique products, customers will be more inclined to purchase additional products or services from you.

Updating Customers’ Interests

Updating customers’ interests is a technique where a business regularly reviews the interests of their existing customers. This can be a valuable tool because it allows a business to target their marketing efforts to the individuals most likely to benefit from their products or services. If a business doesn’t update their customer’s interests, they are essentially wasting their time and efforts by only targeting consumers who are already interested in what they have to offer.

By keeping up with trends, purchasing behaviours, and consumer interests, businesses can ensure their marketing campaigns are precisely targeted at the right audience.

The Importance Of Data In Upselling

To be able to use upselling effectively, you need to consider the collection and analysis of data concerning your target audience. Without good data, it’s difficult to know what approach to take, and which products and/or services to offer.

The better your data, the more effective your strategy will be. However, collecting data is not easy – especially concerning consumer behaviour. That’s why businesses usually end up using surveys and trial and error to get the data they need. But that’s all the more reason to be mindful of what you’re doing and ensure whatever strategy you use is backed by good data. In the end, you can’t make a decision concerning your business’s marketing strategy without having reliable data to support your decision.

Personalising The Offer

One of the primary reasons why upselling works is because customers buy into the value proposition (argument). To ensure a customer is sufficiently incentivised to buy your product or service, you can use various techniques, including personalising the offer. This involves taking into account data concerning each individual customer and customising the pitch to their unique interest. It’s a form of psychological manipulation, which some might see as offensive, but it’s used extensively in marketing today.

If a customer buys something from you once and you don’t bother to personalise the offer, they may not be as inclined to buy from you the second time around. By taking the time to learn more about your customers and providing them with a personalised experience, you can significantly increase your revenues and convince more customers to buy into your value proposition.

The Role Of Email In Upselling

Email is one of the most popular and effective forms of digital marketing. According to HubSpot Blogs’ analysis of more than 70 million email marketing records, nearly 40% of consumers have bought products or services after receiving promotional emails from brands.

In addition, HubSpot Blogs’ analysis of more than 70 million email marketing records also found that consumers who have received promotional emails are 3.5x more likely to make a purchase compared to those who have not (averaged across all industries and countries).

This suggests that providing customers with sufficient, relevant information via email can be used to get them to purchase. Once again, upselling can be used to encourage the purchase of a product or service that’s complementary or in association with another product or service – but email is one of the most popular and effective means of doing this. If you want to learn more, read our blog post

The Benefits Of Email Marketing For Small Businesses

If you’re looking to adopt an online marketing strategy for your business this year, why not consider using upselling as a technique? Think about the products your business will sell and how you can upsell these to existing customers as well as new customers.