As a business owner, there are several ways to increase your revenue. One of the easiest and most tangible ways of doing so is upselling, which can be defined as motivating buyers to buy more.
In simple terms, upselling refers to increasing the size of your average cart.
Let’s talk about how you start upselling to make more money:
Offer Free Shipping
Free shipping is one of the first features buyers consider when looking for a store. About 79 percent of buyers prefer stores that offer free shipping and most are willing to pay more for this feature.
You can put a minimum threshold for buyers to qualify for free shipping to make them pay more. Someone who spends $85 on items might choose to buy more if spending $100 results in free shipping.
Make sure to use this technique carefully as keeping your threshold too low might cause you to bear losses.
Nothing works like discounts! Most stores offer seasonal discounts to attract buyers and increase sales. However, discounts are common throughout the year and 85% of Americans use coupons
A great way to offer discounts is to sell bundles or bonus packs that contain multiple items and come at a discounted price. It’s believed that you can sell up to 73 more by using this trick.
Consider offering special discounts to first-time customers to push them to buy more and to increase the likelihood of them shopping with you again.
Many of our businesses choose to offer a special discount on their Brobia listing so that when potential customers find them, they are more likely to take that first step and shop with them.
Try Email Marketing
Email marketing can be a great way to stay in touch with buyers and make them buy more when they come back to your store. According to reports, it offers an ROI of up to 4,400 percent and can help you promote products, and services.
Create personalized emails as they offer better returns and make sure to keep your marketing message short, crisp, and relevant.
Buying behaviour largely depends on the marketing message so make sure to hire quality writers to create your campaigns.
Make it look like buying more will benefit the buyer and not you. Use words like ‘free’, ‘discount’, or ‘cheap’ to attract more clients.
Suggest Relevant Products
If you’ve used platforms like Brobia, Amazon, or Netflix then you have heard of ‘Recommendations’ or ‘Customers Also Bought’. These are products the engine suggests to buyers based on their buying behaviour.
Recommendations can drive up to 30 percent of revenue. It can, however, be a little tricky to master.
You have to check several aspects to suggest products that people are likely to buy. For example, someone who purchases a cell phone from your site might also buy a phone cover but might not buy a microwave.
Create a Sense of Urgency
Urgency and scarcity can help increase the size of your average order.
The key lies in making people feel they’ll lose a good opportunity if they don’t seize it. You can use countdown timers to create a sense of urgency, for example.
Booking.com and even Amazon use different tricks to create scarcity, such as showing the number of items left in inventory to push people to purchase more.
While all these tricks work, they might not all be suitable for your unique business. Consider using A/B testing to find the one that works best for you! After all, data is the best guide!