Firstly, what is a sales funnel? In simple terms, it’s the journey that you guide a prospect as they first discover your product or service to the point of them buying and becoming a repeat customer.
Part of making a sales funnel more effective is offering related products as part of your original offer. These are upsells, where they buy your product and some extras and even downsells, where they buy something different from you at a lower price.
Upsells and downsells can increase your average price point for every single order that your customers make. It also increases the lifetime value of every customer.
When you make a sales funnel that is a well-thought-out and includes the right offers at the right time based on your buyer’s journey, you’ll increase your ROI and bottom line. Here are 9 things to test when creating upsell and downsell messages to make your sales funnel work more effectively.
Nearly every business uses upsells. When you buy a pair of shoes, you’re offered polish to go with them or when you buy a burger at a fast food franchise, you’re asked if you want fries with it. These are time-honored examples of upselling in retail to increase the price point of each transaction.
Another time-honored way to ensure you don’t lose a sale entirely is to offer a downsell. This is aimed at people who may have reasons for not needing or purchasing the main offer (usually a lack of funds) but may still want some element of your product or service.
The philosophy of upsells and downsells for any business is fundamentally the same. When your customer is in a buying mood, you want to offer them something else they may be interested in because that’s when they are most likely to buy. Here are 5 tactics to help you gain more profits with your upsells and downsells.
How To Generate More Online Sales For Your Offline Business
You’re not going to generate more online sales if nobody knows your eCommerce website exists.
If you currently have a business that is mostly offline and you sell a product or a service, you can start to generate more online sales if you set up your website the right way.
In the first instance, you may need to adjust how you target your audience. Those people who like coming to your store might not be the right people to encourage to buy online. Instead, target people who don’t live nearby. Knowing who your customers are, their values, and where to find them online will help generate the extra sales you’re looking for.
The online buying process is different to the offline buying process. As an online business owner you rarely, if at all, have any direct face-to-face contact with your customer. A prospect finds your products online and then decides whether to purchase or not.
It’s important to understand a typical buying process and sales cycle, so you can move your prospective customer from first encountering you or a particular product, all the way through to buying your product.
There are basically 5 steps to the typical online buying process.
How To Attract Local Customers To Your Online Store
Even if you have an online store, don’t underestimate the results you can get when you attract local customers to buy from you too. Since your business home is local, many people who want to shop online will shop with your store because they feel as if they’re still shopping locally with small businesses. And they are, even though they don’t have to leave their house.
Never underestimate the power of focusing your marketing locally. Your area may have 25,000 or more people who will be excited to order from you as a local business.
Regardless of your industry, every buyer goes through a journey when making purchasing decisions. Understanding your buyer’s journey will help you know what information to give them and when.
You can think of the process of choosing what to buy as a journey. It’s the process of going from awareness to purchase. Thinking of this as a journey will help you guide your audience through the awareness or acknowledgment of a problem that they need to solve and how you are the one that can help them solve it.
You’re working hard to get people to visit your website but the key to online business success is to convert your website traffic into customers. It’s a hard fact to swallow but almost no one will buy from you on their first visit to your website.
There is where the ‘Rule of 7’ applies. In marketing circles, research states that you need to interact with someone 7 times before they purchase a product or service. This is because that person is trying to get to know you. They want to figure out if, in their minds, your products or services bring value to their life.
So once that person lands onto your website, how do you convert your website traffic into customers using the ‘Rule of 7’?
It might seem like an obvious statement but sometimes businesses forget the fact that the only way to make money is to get customers to buy. A sales funnel process is set of steps where you move a prospect through a series of communications that results in them buying from you.
But what happens after that first sale is made? Are you now finished with that customer and do move onto the next prospect?