Moving on to the next element in the sales funnel – Upsell. Upsell offer happens right after the front-end offer. Hence, Upsell relates closely to the front-end. If you remember, I‟ve mentioned that Upsells are your main source of revenue. That is why you must have a high converting Upsell that will bring you large amount of revenue.
Upsell could be the core of the whole sales funnel. Take note of everything that is important. You‟ll love it if you can master the skill to create a high converting Upsell. This would be the best part of the sales funnel.
You do not have to wait for the revenue to come in down the road. It comes almost immediately with the implementation of Upsell in your sales funnel.
Upsell is an immediate offer to the buyers once they‟ve completed their purchase from your front-end offer. Of course, if they didn‟t buy your front-end product, they will not buy the Upsell as well.
The price of an Upsell must be higher than the front-end product. This is one of the criteria for an Upsell. It is usually twice the minimum price of the front-end. I am going to tell you more about the criteria to create an Upsell later in this chapter.
So, what makes an Upsell worth a higher price than your front-end? It is because an Upsell is an upgraded version of the front-end. When you are writing your sales copy for your Upsell, write it in a way where you are offering them an immediate solution or an in-depth course to enhance the front-end product.
Why you will need Upsells in your sales funnel? The answer from most of the Internet marketers would be because it brings instant revenue to the business. In the past days, the Internet marketer relied only on front-end sales.
However, in the sales funnel concept, your front-end offer will not go to you, the product vendor,a single cent. You‟ll give 100% commissions to the affiliates that promote your front-end.
Now that you may be wondering, if you were to give away 100% commissions to your affiliate, where are you going to gain profit from? The answer is from the Upsell. Your Upsell can probably bring in 30% to 50% of the revenue. From this, you could see that Upsell is actually the main part of the whole revenue.
Apart from this, Upsells increase the satisfaction of your buyers. Let me ask you this: Did you ever experience that after you‟ve bought the first product, and you find that the product works but you can‟t find the next product from the same vendor anymore? Serious buyers will want to buy the Upsells to study and understand more about the topic.
The same scenario happens in your business as well, if you are offering the Upsells to the subscribers, serious buyers are actually looking forward to more products from you. Hence, your Upsells are actually for the benefits of your buyers as well. One more thing about the Upsells – incompleteness. This is one of the buyers‟ mindset, the selling versus the consumption. Marketing is all about incompleteness, but your product is all about completeness.
When they start the buying loop by purchasing the front-end product from you, they are already giving you the opportunity to push them further to buy something. When they are still in the buying mode, they‟re in that incomplete mode and now your Upsell offers serve as the product to make them feel complete.
This is all because of the concept of content-focused and salesfocused; the product focuses on the content, while the marketing focuses on doing the sales. The Upsell is the combination of both.
The sales funnel works because we understand the buyers‟ mindset and created this funnel. First thing about the buyers‟ mindset is the incompleteness.
Moving on, it is the buying trance of the buyers that contribute to the creation of sales funnel.
While the front-end product plays the role to start the loop of the buying trance, Upsells, down-sell, and the Backend must be there to complete the loop. People have made the first commitment with you when they make the first purchase, so now they are going to follow through with the sales funnel. Same mindset when you are going to do your daily groceries shopping. You go with your own shopping list on hand. However, sometimes when the buying trance started, you‟ll end up buying things that are not in the list. I believe every one has experienced this.
Moreover, the impulse purchase mindset in the buyers contributes too! Sometimes, they just do not intend to buy this, but at the end of the day they‟d still buy it. This is all because of marketing.
The concept is the same theory that the shops will place some goods in front of their cashier, you‟ll be attracted to the goods in front of the cashier while you are lining up for the payment.
Upsells have the same function as this. While the buyers are waiting to download the front-end product, you offer them the Upsells. While the buyers already have something to buy, you strike while the iron is still hot.