Bump & Upselling in Marketing

 

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This is probably one among the foremost easiest, quickest and most profitable techniques that business people have at their disposal yet it’s rarely used.

Let me explain what upselling is. Upselling is essentially offering the customer more at the purpose of sale

Let me offer you some simple samples of upselling within the world .

Say you run alittle website design company and you’ve got an individual on the phone able to order an easy 3 page website which cost £200. While you’re lecture the person you’ll offer them a further website page plus 5 extra email addresses for an additional price of £50. the traditional price for this package is £300. You tell them you’re offering this because you would like to thank them for using your company and this offer is merely available immediately .

Let’s do some figures now…

Before you used your upselling you had 100 people purchase your 3 page site at £200.

100 x £200 = £20,000 = £5,000 Profit (25%)

Total profit = £5,000

Now because the upselling offer only costs an additional £10 to set-up you create the remaining £40 in pure profit!

Let’s say 30% take your upselling offer…

70 x £200 = £14,000 = £3,500 Profit (25%)

30 x £250 = £7,500 = £2,700 Profit (36%)

Total profit = £6,200

So with an easy upselling provide you with could add an additional £1,200 profit for each 100 clients you sell to! That’s a rise of 24% which was virtual effortless!

Things to recollect 

· Always tell the buyer why you’re offering this special price and clearly & passionately explain the advantages for taking this offer.

· Tell the buyer that this is often a limit offer only available right now! this may create a way of urgency within the consumers mind.

Gordon McNevin

YourMarketing.co.uk

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