The probability of converting an upsell offer to an existing customer is around 3X to 12X higher than getting a prospect converted for the first time.
Imagine you’re at a restaurant that you go to quite often. Here is the likely sequence of events…
- The manager would greet you with your name. That puts a smile on your face knowing that he/she remembered you. A welcome with your name rarely goes unnoticed.
- Your order is taken by the waiter and they ask if you prefer your food to be less spicy or like we usually make it. This information would let them tweak the dish and personalize it for you.
- You’re having a great time and while replacing your dishes, you’re subtly asked about the food that you just had. The feedback helps them gauge your satisfaction or delight score.
- As you’re placing your next order, say for your pizza or pasta, you’re asked, “Would you like some extra toppings or cheese?” or “Would you like your favorite wine with that pasta?”. This is a great way to cross-sell a complementary product.
- Towards the end of the meal, the manager steps back again to take your feedback, knowing that you had a great time. He also notices that you’ve brought your kids for dinner and a recommendation for a nice dessert would not be turned down. This would probably make them order a premium dessert instead of the regular and is a great way to up-sell.
Let’s break this down …
- Welcome with your name
- Inputs to personalize the product for you
- Feedback to ensure you’re delighted and have built trust or credibility
- Subtle nudges to drive purchases of complementary products based on recent orders.
- Upselling a better alternative under the same category, is done to fetch more revenue.
As a result, the restaurant would succeed in bringing a higher average revenue per guest. Not just restaurants, every successful business does it.
In fact, 35% of Amazon’s revenue comes from upsells and cross-sells, given the richness of insights they have gathered.
Next time you receive an email from Amazon try guessing why they sent it to you!
Give your customers a visual aid
You can further build on this upsell strategy by adding personalized media! Be it through emails, whatsapp or on your landing pages.
With Nexweave you can build templates that contain variables for :
- prospect’s name
- last purchase products names
- images of previous purchase products
- images and text of recommended products
and much more!
Check out this article for more ideas on using personalized media in your upsell strategy, and get started with Nexweave today!