WANT TO INCREASE YOUR REVENUE BY 35%? HERE’S HOW

Upselling is possibly the simplest way to increase your revenue and sales on Shopify, with minimal effort. According to statistics, upselling increases revenue by 10-30% on average, upsells and renewals generate 70-95% of revenue on average for companies that offer them, and upsells are 68% less expensive than acquiring a new customer. 

This means that with the right strategies and tactics, you can go even higher since these figures are just averages! Let’s put this figure into context. A company that currently earns $85K per year, could easily increase that figure to $114K on average, or even more! Simply by including a one-click upsell.

One-click upsells are tried-and-true sales tactics that encourage customers to spend more money with you. Consider Amazon, the e-commerce behemoth. They have one-click upsells prominently displayed throughout the site such as the customisation option available on Amazon’s paperwhite Kindle device. This is because upselling is a game changer to increase your revenue by providing an enhanced experience for a fee.

WHAT MAKES ONE-CLICK UPSELL SO SUCCESSFUL?

One reason why this tweak is so wildly successful to help increase your revenue lies in the way we think as humans. Many of today’s psychological research conducted on our purchase decisions, points to the most basic aspect to our ego. We only take the decision to make a purchase if it is based on a belief that going through with it will benefit us in some way.

One-click upsell taps into this ego by offering an upgraded product that will deliver more value. It promises a better buying experience for your customers, and when properly positioned in the sales process, upselling is convincing on both a rational and an emotional level.

WHERE TO POSITION ONE-CLICK UPSELL

There are two distinct areas on your Shopify page where you can position one-click upsell in order to increase your revenue. You can either place it immediately before or after the order form. These are called pre-sale and post-sale upsells.

A Pre-Sale upsell makes an offer before the customer enters their payment info. It is also called an order bump. With a Post-Sale upsell, the offer is placed after the customer has completed the checkout process. It is usually done on a thank you page.

Both upsell types work well when paired with the right offer but it is smarter as a business owner to first capture the initial sale and then show the upsell offer on the next page. Many businesses see a significant increase in conversions by using this simple Shopify checkout customization.

UPSELLING FOR INCREASED CONVERSION

An effective upsell strategy has more to it than simply slapping it anywhere on a web page. You’ll want to track conversions through LMS reporting to see what kind of results you are pulling and if changing the wording or the offer itself, will improve your sales and increase your revenue.

As a rule of thumb, remember that a successful one-click upsell should be attractive. It should be strategically placed, and should complement the existing product. For this purpose, it’d bode well for you to bring on a good copywriter who can craft the perfect pitch to tie all ends together.

• Create An Easy Choice For The Client

There is a proper place and time for everything. The point where you add one-click upsell is not the time when you invite your customer to reason, debate, or consider how much they can spend based on their tax returns.

A one-click upsell often consist of a simple video or a short description that explains the benefits the customer will get from the additional purchase, and how buying that product is a natural next step. The upgrade needs to be an easy no-brainier to incite a purchase.

You need to make the product or service you’re upselling one that brings the question “Do I need the enhanced experience of this product or service?” to the customer’s mind. Your upsell should promise to fast track results by saving time or giving an additional hard-to-find resource. This will prompt a purchase on the part of your customer and increase your revenue.

• Eliminate Any Objections

There are certain objections that may arise during the one-click upsell checkout process. As a smart businessman, you need to have measures in place to sidestep them. Anticipate these problems and meet them head-on. 

An alternative is to focus on the about 20% of your customers who are a good fit for the upsell, and make your message speak directly to them. Upselling is not about forcing everyone to buy a product or service, but about offering additional resources to those who need or want them and convincing them to close the deal. 

Keep track of who your customers are and make an effort to know them inside-out. Make sure the upsell offer fits the customer like a glove to guarantee a sale and increase your revenue.

• Make It Easy For Your Client To Say Yes To Your Offer

The most important aspect of integrating a one-click upsell to your digital business is to make your offer an easy thing for clients to say yes to. Eliminate long processes like asking your clients to re-enter their payment or address details. They will probably balk and walk away from it.

Studies have shown that many people abandon their carts if the checkout process is complicated or leaves them in a position where they are posed with a question of security or whether to trust your shop. Make it as simple as possible. Cart abandonment is a serious issue in the sales field which does the immediate opposite of helping increase your revenue.

Even with something as fundamental as a click of a button, they should be able to see a summary of what they’re buying and finally checkout. You can do this with a Shopify custom checkout app.

CONCLUSION

The one-click upsell business module continues to be the most effective and the most powerful way by which you can improve your revenue rates regardless of what business you run or own.

It is so effective that up until very recently Amazon owned a patent on one-click purchases which generated an estimate of more than a billion dollars in revenue.

This is because this method removes the barriers to buying besides a single click, the most cumbersome part of buying online, the checkout process itself.

Also, Read Lead Generation Doesn’t Have To Be Hard.