In this module, we’re going to learn how to reap as much profit as we can from a sales funnel, which is by including a 2nd and 3rd Upsell into the Sales Funnel.
This is a bold move. Having too many Upsells can upset a customer. They will feel annoyed as you bring them through a seemingly endless sales loop. This is why having a 2nd and 3rd Upsell requires method to the art.
A few entrepreneurs tried it and it proved to be a great success. Now, it’s becoming more and more common. Many more are attracted to this method because of its huge impact.
It’s important to note that you can’t do a 2nd and 3rd Upsell willy-nilly. You need organization and proper planning. If you fail, you’ll lose a whole lot of customers. If you succeed, there’s big profit to be made.
Now, in this module, we’re going to explore these methods that make a 2nd and 3rd Upsell work.
What Is The 2nd & 3rd Upsell?
First of all, let’s find out what exactly are 2nd and 3rd Upsell.
They are exactly what their name implies. The 2nd Upsell comes directly after the 1st Upsell, while the 3rd Upsell is directly after the 2nd Upsell. The 2nd Upsell is, of course, of more value than the first Upsell and the 3rd Upsell is of higher value than the 2nd Upsell. The price for each product increases according to the levels.
The purpose of having the first Upsell is for the customer to buy a higher-priced product in the first place. Having the 2nd and 3rd is exactly the same concept but taking that method a little further. The inclusion of 2nd and 3rd Upsell in the Sales Funnel is an act of stretching it to get as much profit as we can.
Applying the same concept from the original Upsell, the 2nd and 3rd Upsell should be congruent with all the products in the sales funnel and most importantly, the front-end product. Without congruency, the sales funnel would throw the customer off.
However, it is important to note here that what you’re selling in the 2nd and 3rd Upsell are additional tools that could provide them with great boost for the first product. They are not in any way missing parts of the product itself. Do not take something out of the main product, that is a necessity, so that you can sell it later for a higher price.
It is very unethical for the vendor to sell the product with missing parts. Your credibility will be affected and your sales, indubitably, will follow.
So, what should the 2nd and 3rd Upsell be, then, if they were not missing parts from the front-end product?
First thing that they should be is congruent with the front-end product but that alone is not enough to convince someone to purchase them. You, as the vendor, should find out what would the customer need after purchasing your front-end product.
You, as the vendor, have to forecast a problem that the customer would encounter when using your product. Perhaps, if your product is about creating a website, your Upsell can be tools or software that they can use to create the website graphics.
There are always things that the customers need after they’ve purchased the product. To know what they are, it’s up to you. You have to do a little bit of research yourself. And for this, you have to depend on your skills and knowledge as an entrepreneur.
However, that is only the basis of coming up with an Upsell. You also need to add in bonuses to be included in the Upsell. This is because you need to increase the value of your Upsell deal and it is more important to do it in the 2nd and 3rd Upsell where your value needs to be really high.
Why Do We Need A 2nd And 3rd Upsell
Isn’t one Upsell enough for a sales funnel? How many more should there be?
Technically, one Upsell is enough if you’re not aiming for a big profit. It’s enough to complete a sales funnel if you want to complete it for the sake of completing it. You can still profit from one Upsell, of course.
However, let’s not forget that entrepreneurship is about pushing yourself to the limit and see how much profit you can reap. There’s no reason to settle for mediocrity.
Having a 2nd and 3rd Upsell has already proven to be profitable. More and more entrepreneurs are jumping into the wagon to include this method into their trade. There’s no reason for you to pass on an opportunity like this.
One of the reasons why 2nd and 3rd Upsell can sell (also the first one) is because of the ‘buying trance’. When a customer makes a purchase, they will be in a ‘buying trance’ where it’s easier for them to make more purchase than one. It’s like when people are ‘in the mood’ for shopping in a shopping mall. By having multiple Upsells, we are capitalizing on that emotion.
This ‘buying trance’ was also capitalized by iTunes that allow the customers a 15-minute window to make a purchase without having to key in the password or filling forms. You’ll be surprised to know how this trance can affect someone’s buying habit, really.
It might seem unethical that I am encouraging you take advantage of the buyers’ vulnerable emotional state. However, the buying habit has changed nowadays.
There was a time when people would’ve made a long and serious consideration before making a purchase a product especially on the Internet. Nowadays, people purchase rather on a whim. This is because of the reliable refund policy that vendors have.
These refund policies are like a safety net and they are one of the big factors to why a customer makes a purchase in the first place. If they’re not happy with the product, then they can just ask for their money back. The customer knows that they’ve got nothing to lose.
But, as a vendor, you have to avoid requests for refund as best as you can. So, you need to offer them nothing but the best product.
Now, before we derail even further…
Having a 2nd and 3rd Upsell is pushing it, to an extent. The key here is to know when to stop. Having a 3rd Upsell is enough. You can go ahead and push further for a 4th and 5th Upsell but they will not sell.Don’t bring in the customer into a sales loop that goes on and on… It will upset them, and your credibility as a product vendor will be tainted.
Also, as mentioned, the 2nd and 3rd Upsell are not missing parts from the original purchased product but instead, a boost or extra tool or help. If you’re selling a self-help product, for example, an e-book, it’s very unlikely that one product would be sufficient. They would need extra tools, too. Perhaps you can include an audio version of the book or the video version with slides.
So, an Upsell is more than just an add-on. It is also a helping hand. The customers would appreciate that gesture.
Price And Value Of 2nd& 3rd Upsell
The price for the 2nd and 3rd Upsells should be lower than $200. It shouldn’t go any higher than that.
The vendor has the freedom to set the price, so it’s up to you. However, being lower than $200 is just a principle that you don’t have to follow. But ‘principles’ exist, in general, because they work. This price is chosen after years of experience and experimentation. It’s safer to just stick to it.
The price for each Upsell should increase in each level. The Upsell that comes after another Upsell should be higher. So, it is recommended for you to increase the price accordingly but don’t go over the 200-dollar mark.
Once you’ve increased the price, the value should follow. This goes without saying, really, but how do you increase the value? Is it by choosing a more valuable product?
Yes, that is correct, but is it enough? No.
What you need is not only a valuable product but you need to include bonuses in the deal, as well. The product itself cannot sell for such a high price. You’d also need some bonuses to push the customers a little more to click on the ‘buy’ button.
Selling a product that might help them is not enough anymore. You need all these bonuses so that the values will be increased and the chances of closing a sale are higher.
Increasing value is not the only reason, though. Remember, there is also a down-sell that you should pay attention to.
A down-sell is where the same product is offered but with a lower price. Now, that wouldn’t be fair for all those who have purchased the Upsell for a higher price, right? So, for a down-sell, the price must go down and the value must decrease also.
You can decrease the value by getting rid of the bonuses offered in the Upsell. That way, it would be fair for the people who have purchased the Upsell for an original price and also fair for people who might be more interested in the product but discouraged by the price.
That is the importance of bonuses. Not only do they increase the value. They also provide a cushion should there be a down-sell.
Creating The Upsell Script
Now, for an Upsell to sell, it’s not enough that you offer them with a sales copy on the product page only. There is an intricate method to pull off a good Upsell offer. However, that is a whole different scope altogether, which is copywriting.
But, you need to know the basics first, above all. Only when you have a grasp on the basics can you go on to attempting selling valuable deals.
First of all, you would need to establish the reason for owning the Upsell. What do these products do? How can they help?
Let’s go back briefly to what these products are because this is an important aspect. Once again, these products are not missing parts of the front-end product. They are boosters or catalysts for your customers to use the first product.
So, make the reason for owning this product clear. What can these Upsells do for them?In the earlier part of this module, I mentioned that the people would need a helping hand especially when your product is a self-help product.
That could be the reason you can use when you’re selling the product. Perhaps, the product in the Upsell can be sold as something only for those who are truly serious.
Establish the difference between what they have and what is best.
One technique you can always count on in making a sale is the scarcity factor. The scarcity factor is an advertising technique where the product is made available only for a limited time. For example, the offer is only available for one week and after that, the offer will expire.
It creates a sense of urgency. When the customers see that the deal is available for a short time only, and if they were to miss it then, they would miss it forever. Only then they would be more encouraged to make the purchase. The scarcity factor does magic when it comes to closing down a sale.
A lot of products that you can find online utilize this method because of how effective it is. Usually, to put a little boost on the method, the sales page would incorporate a timer so that the people can see when the deal expires. With the timer running, the customer would feel compelled to make an immediate decision.
With the scarcity factor, plus the ‘buying trance’ that they have after making a purchase, it is easier to close down a deal than ever.
When you’re selling something, it is more important than ever to have a call-to-action in your copy. The call-to-action culminates the whole sales pitch. If you are not familiar with call-to-action, it is the part of a copy that convincesthe customer to make a decision.
For example, there’s the “Get this product now!” or “Buy it now!” in almost everysales copy. The whole copy should be formed to point to the call-to-action because the call-to-action is the final step in securing a sale. So, it’s recommended that you take your time when you want to write a call-to-action.
The call-to-action should also be made clear. In fact, it’s okay to be a little extravagant (in a tasteful way, of course) when designing the call-to-action button in the page. If it were obscure and customers miss it, then the whole copy would’ve failed.
2nd& 3rd Upsell Idea
So, what kind of product can we sell as 2nd and 3rd Upsell?
Again, it is totally up to you, the vendor, to increase the value of the Upsells.This can be done by including mega bonuses in the deal as well. But a recommended product to be sold as 2nd and 3rd Upsell would be a membership program.
A membership program is where the customers pay to have access to exclusive content on the Internet.It is similar to any other membership program that you can find, where the members have to pay either monthly to have access. Membership sites are similar.
Now, there are many advantages to selling a membership program. For one, it is a big-ticket product and it costs a lot because of its exclusivity. This means, the access can be sold at a very high price.
Secondly, a membership site can provide a passive yet steady income. As each of the members has to pay monthly, it means that you’ll be paid each month. All you have to do is just provide the content and have them ready every month.
Here’s a little trick: You can get the contents from a Private Label Rights product. These are ‘white label’ contents that you can repackage and sell as your own. So, you can purchase these contents and repackage them to make a monthly content, you can sell it for a much higher price than any other medium of content.
