While the need to retain an existing customer is broadly known, many sales, client fulfilment, and marketing team miss out on the prospect of upselling. The revenue potential of a customer does not end after the point of sale. For more businesses, there is a wealth of opportunity after purchase- and practices like upselling can assist you to tap into it. Upsell is the most time-tested and oldest method to increase the total value and orders of your customers. While performed right, your customers are presented with compelling products to buy from your brand that complement their past purchases and taste perfectly. Businesses of every industry have involved upselling in their marketing strategy, particularly from the best digital marketing agency Kolkata. Let us delve further to take a deeper look at upselling, also how it can be put into practice.

Upselling

Upselling is an effective and powerful marketing technique via which you can target a customer who is prepared to purchase from you. You then offer a more advanced product, upgrade, feature, and service. Upselling can improve your bottom line dramatically by increasing the profitability and size of each sale. Overall, the focus of upselling must be to enhance the value of the order for the seller and, as a result, create more worth for the buyer. While putting upselling into practice, it is vital to strike the perfect balance so that customers do not feel pressured while spending more than they are comfortable with. Failure to do so, customers might lose their trust in your brand. Also, you will lose the probability of them being your future customer.

Upselling Vs. Cross-selling

Often people tend to use both the terms “cross-selling” and “upselling” interchangeably. However, there exists a big difference. Upselling aims at convincing customers to purchase a much more expensive version of your product, such as the deluxe version of any product they are interested in, like the basic version.

On the other hand, cross-selling aims at convincing a customer to purchase related items along with the product that they were interested in originally. Like, you can convince your customer to purchase a matching purse and shoes along with a dress she’s interested in buying. Budling is used by some businesses as a cross-selling strategy. This includes selling two or more than two products everything at a discounted price. Like while purchasing a laptop or PC, customers are offered a special deal on a speaker or printer that goes with it. Both upselling and cross-selling are effective selling techniques that could help boost your sales. Also you can use both in the process of your sales.

Upselling- A vital part of your marketing strategy

When we talk about increasing revenue and driving sales, upselling is a vital strategy that you must employ. Upselling helps you to make more money from every customer whom you serve. As it will cost much less to sell products to an existing customer instead of acquiring a new one, upselling is a great way to increase your business revenue. Also, it enhances your AOV (Average Order Value). By delivering customers some additional services or products, you may increase the amount that they send each transaction. This can be particularly beneficial during slow periods when you need to make up for your lost sales.

Moreover, it helps to build customer retention, loyalty, and trust. When your customer sees that you are interested in assisting them to get the maximum out of their purchase, they are more likely to stick to your brand in the future. Often this leads to higher customer satisfaction rates and repeats business. Upselling increases the chance of receiving referrals as well as word-of-mouth marketing. By providing customers with add-ons and additional services that complement your customer’s original purchases, you are offering them value that they will appreciate. Happy and satisfied customers will refer others to your brand and business.

Effective ways of driving product upsell with the use of marketing automation

Upselling is not industry-specific, as such, irrespective of what service or product you sell, particular universal strategies apply. With marketing automation, you can track how customers are interacting with your content and your website to understand their needs better. Also, you can take advantage and identify upselling opportunities. Below mentioned are some strategies to focus on.

• Using Lead nurture for selling additional upgrades/products

Automation tasks such as sending follow-up emails and then pairing that with the contact segmentation, you will be able to send your customers customized offers and messages, all while you are busy doing other things. As a marketing strategy, when you pair marketing automation with one CRM, you can store all vital data and use that to know more about them. You can provide targeted offers automatically that align with the needs of your customers by examining this data. These lead nurture campaigns prove very effective while establishing customer trust and assisting them to move ahead with more of the offerings of the company.

• Using web behavior to indicate interest in topics/ products/ services

A great opportunity to engage with your customer is personalizing their experience on your site. The best digital marketing agency in Kolkata helps you use smart content to serve up various CTAs, mention them on your homepage, and skip certain forms. Your customer will love the personal touch when you serve them content that is more relatable to their requirements, and they are more likely to stick around to see what’s being offered. Also, you must have notifications set when one customer is browsing pages on your site that can help in indicating that they are pretty interested to upgrade their service.

• Implementing Automated Surveys

Surveys help to gauge the happy quotient of your customers and receive feedback that they may not think comfortable sharing face-to-face. The timetable and frequency for sending surveys are dependent entirely on your customer lifecycle and business. Once the insight is collected, you may use one net promoter score system to quantify your customers’ satisfaction. If the feedback is negative or positive, this is a way of improving your business.

Wrapping Up

When done correctly, upselling can help you to strengthen your relationships with your customers while simultaneously boosting profits. So, it’s a win-win. With the use of marketing automation from Plan D Media, the best digital marketing agency in Kolkata, you can craft your automated email campaigns aimed at upselling and providing your business the finest opportunity to secure more lucrative business. Just ensure you keep the upsell suggestions on the basis of your audience as well as their needs.