What is Upselling and how can you increase your revenue by upselling
Upselling is a method to offer more expensive products or upgrade an old product to a new product. In this way, the customer will receive more value and features than the previous product by paying meager costs. This will encourage the customer to buy a more expensive product and increase your sales. In WooCommerce and other store-building platforms, you can run products Upselling with a few clicks. But let’s take a closer look at what is Upselling and why it’s best to use it on our website.
What is Upselling
Suppose you walk into a laptop shop and ask for the price of a mid-range laptop. The seller tells you that this laptop with a Core i5 CPU, which has moderate power, will be presented for $1000. You decide to buy, and if the shopkeeper is an old businessman, he will know from your behavior and face that you are the buyer of this product.
Now he is showing you another laptop. A laptop with the same hardware but its body material, unlike the previous one, is aluminum. For this higher-quality laptop, you only need to pay $1030.
What is your offer to buy? Like the second laptop, You pay for it and leave the store safely. You will probably come to the same shopkeeper for future purchases because you have enjoyed buying from this business.
Here this shopkeeper has done overselling. It sells you a product that is about the same price as the previous product but does two things to deal it with the same thing.
- Guarantee sales of your product by offering a better product
- $30 increase in revenue in the same sale
Of course, we do not mean net income here. Instead, it sells products that may have a net profit margin of a few percent.
In your online business, you can quickly run traditional shops Upselling. Maybe even much more accessible!
Upselling means suggesting an offer to a customer to buy a higher-priced product or upgrade a previous product for a fee. Of course, if the more expensive product has not been considered before.
If the more expensive product has not been considered before
What is the meaning of the second sentence in the yellow paragraph? Sometimes the customer cannot pay for the more expensive product, and the seller insists on the customer buying the more expensive product so that the cheap product falls out of the customer’s sight. So we will hear only one answer. I will be at your service soon!
The same is true in online stores. You should not force the customer to buy a more expensive product. Rather, Upselling should only be a suggestion. Note that in no case should the more expensive product show a weakness in the previous product.