Upsell strategy is an underestimated and underused tool in digital marketing. Implementing an upsell strategy can help to increase your company’s ROI. In the featured video, Adil Zuberi and I discuss that every company who is investing in paid media should have an upsell strategy. Having an upsell strategy is essential to the sustainability and profitability of your company.
When To Use Upsell Strategy
E-commerce companies who are just trying to sell one product tend to struggle with maintaining ROI. They are trying to build their consumer base so they advertise a lot. But if you only offer one product to consumers it is hard breakeven, much less make a profit. A way to increase profit would be to upsell your consumers using other products you offer.
How To Upsell
When upselling to consumers, you must first acknowledge your core product offering. Once you figure this out you want to work backwards in your product line to figure out an upsell strategy. To start you will offer a cheap or free product, also known as a trip wire. The trip wire is a test to see if the consumer is willing to spend money with you. Then continue to upsell towards your core product.
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