7 Techniques for Mastering the Upsell & Boosting Customer Buy-In

Source: https://www.autogrow.co/7-techniques-for-upselling/

Have you ever played Starcraft? And what about Civilization? Or any other computer strategy game for that matter? 

In these kinds of games, you basically control the growth and evolution of a society. 

In order to grow, you need to mine and collect resources. Lumber, ore, food, stones—you know, the building blocks of any great civilization. 

And like so many other games, the end goal is usually to dominate the other societies on the map. 

Now, a lot of people make the mistake of focusing all their efforts on boosting military power first thing. But the truth is, upgrading your ability to mine resources better is the key to success. Because when you focus on that, you can get more lumber out of a tree. More stone out of a quarry. And more ore out of a mine. 

You’re getting more value out of the same resource

And that lets you grow, advance, and thrive faster than the other societies you’re competing with. 

Upselling is like upgrading your business’ ability to mine value from your customers. It lets you earn higher revenue per client. And that means you don’t have to spend nearly as much time on finding new clients… when you do it right

In this article you will learn how to master the art of upselling, why they work, and how they help you get more value from fewer customers.

So let’s start skyrocketing your customer value with upselling right now!

What is an Upsell?

Before getting into how upselling can help you boost your business, let’s make sure we understand what an upsell is. 

Here’s a quick definition we go by here at AutoGrow: 

An upsell is a technique where you entice a customer to buy more. You can do this by providing upgrades, expensive items, or other add-ons to their purchase to increase the dollar amount of the entire purchase.

Simply put, an upsell is just a way to increase the value of each customer. It accomplishes that goal by getting a customer to buy other products or upgrade to higher value ones that you offer. 

There are two main ways of incorporating upselling into your business. 

1. Increase the Average Order Value (AOV) by getting clients to buy other products or upgrading before checking out. 

2. Increase the Customer Lifetime Value (CLV) by getting clients to buy other products or upgrading after checking out (this is where a solid email nurturing campaign comes in).

Why Do I Need to Start Upselling? 

Simple… 

It makes you money. Why else do you do anything in a business? 

Upselling increases the value of a customer. Whether it’s by boosting their initial purchase value or by increasing the lifetime value, the end result is still the same: your customers will be worth more. 

But what makes upselling different is the fact that it’s often an especially simple and cost-effective way of increasing the value of a customer. 

For example, we’ve all heard the old saying that it’s more costly to get new customers than to retain old ones. But do you know just how huge the difference is? 

Some estimates put it at being 5X more expensive to find new customers compared to selling to older ones. 

In fact, boosting customer retention rates by just 5% has been shown to lead to profit increases of 25% or more! That’s because returning customers have a higher CLV. They’re easier to sell to, often have a higher AOV when they do buy from you, and they are a great source for referrals too. 

Okay, so increasing retention is great for business. But what a lot of businesses don’t take into account is that boosting monetization of current customers also comes with a huge ROI boost

We covered this in another post about upselling but it’s worth repeating here. 

In a study of 512 different companies, Price Intelligently, a pricing strategy company, found that increasing monetization of current customers is the fastest route to boosting profits. 

As you can see from the graph below, improving the AOV (monetization) of customers by just 1% can lead to a 12.7% increase in profits

Retention came in second with a 6.71% profit boost per 1% improvement and acquisition was dead last with just a 3.32% increase. 

Source: Price Intelligently

The main takeaway here is clear: increasing the AOV and CLV of customers is more important than bringing in new ones. 

And upselling is the best and easiest way to do both.

Upselling vs. Cross-Selling

There’s usually quite a bit of confusion surrounding this question. And in fact, a lot of the time people just use the two terms interchangeably. I’m guilty of it myself. 

Now, in most cases using the wrong term here won’t be the difference between life or death. 

But when you get down to the nitty-gritty of it all, there are some distinct differences between the two. So let’s take a look at just what those differences are. 

  • Upselling: This is technically when a business or service offers an upgrade to a product that a customer has picked out. Take AutoGrow for example. Our instant Done-For-You funnel marketing team’s Ultimate Package is our most popular. But we also know some clients will get more value out of the Supreme Package. So we send out an upsell email describing the benefits of switching to the Supreme Package so our clients understand if it’s a good fit for their business. That’s an upsell
  • Cross-Selling: This is when you offer a different product or service to a customer after they’ve already chosen what they’re buying from you. Amazon does a great job at this. There’s an entire section of every product page that shows you what other products are frequently bought together with the one you’re looking at. If I look at a baseball glove, for example, it also shows me baseballs and glove oil, right on the same page! There are even a few buttons right there so you can add them to your cart with just one click. That’s cross-selling. 

There are plenty of other examples of upsells and cross-sells out there today, especially as e-commerce becomes the main way we shop today. 

And honestly, distinguishing between the two isn’t as important as understanding what both accomplish, which is increasing the value of a customer. 

3 Reasons Why Upselling/Cross-Selling Works

Upselling and cross-selling are two of the best ways to boost monetization and retention of customers. And as we’ve seen, focusing on these two areas in particular can increase profitability by 3-4X more than concentrating on customer acquisition. 

But why do these tactics work? Why do people respond to them? And what is it about these techniques that make them irresistible when done right? 

There are 3 reasons here…

  • Emotional Excitement: First and foremost, there’s the thrill of buying! Okay, so emotions may not be running too high when you’re purchasing a new loofa or a pack of undershirts. But there are two things in particular that bring out our emotional side when buying: the promise of a better you (smarter, sexier, funnier, happier, whatever!) and cashing in on an exceptional deal (high value for low cost). Upselling taps into those emotions from the original product and makes them even stronger. They’re taking what makes you feel good about buying and giving it a boost along the way. 
  • Already Spending Money: The hardest part about spending money is… well, first deciding to spend money. There’s the guilt, the uncertainty, the skepticism—it all adds up to you asking yourself, “Is this really worth it?” But when you’ve already barrelled past those obstacles once, it makes it so much easier to keep on doing it. Once you’ve actually decided to spend money on a purchase, you’ve broken down the floodgates. And making an additional purchase (as long as it has value) is going to be easier than deciding to make the first. 
  • Trust Is Built: Finally, once you’ve built up trust with a customer, it’s far easier to sell to them again and again. One of the most commonly pointed to stats here is from Marketing Metrics. It says, “The probability of selling to a new prospect is 5%-20%. The probability of selling to an existing customer is 60-70%.” That’s because you’ve already shown past customers that you deliver value. And once you’ve done that, you become a trusted source of quality products or services. All that’s left now is maintaining that trust.

7 Things to ALWAYS (and NEVER) Do When Upselling

So, now that we know what upselling is, why to do it, and why it works, let’s take a look at 7 tips for upselling the right way. 

1. ALWAYS Add Value 

If there’s only one thing you should take away from this article it’s that an upsell should always add value to your customer. 

Offering value is the key to getting your customers to sign on to buying more from you. 

And one way to make sure your customers are getting value from the products you’re offering is by choosing upsells that are relevant. This is especially important with cross-selling.

If you’re offering a course on marketing, for instance, a good cross-sell would be a collection of case studies outlining the best conversion optimization techniques like our Proven Sales Conversion Pack

The more relevant you can make your upsell or cross-sell offer, the more likely your customers will be to buy. 

2. NEVER Make It Meaningless

In the same vein as the last tip, don’t ever throw in products just for the sake of including an upsell. 

Upselling is first and foremost about increasing the value of a customer. 

But trying to get your customers to add on something that’s completely irrelevant to who they are and what they’re trying to do is a quick way to lose trust. Plus, it makes your brand seem a little scummy. 

So not only will your upsell probably not perform that great, but it’ll also knock your reputation down a peg too. And that can spell out trouble for keeping your customers loyal. 

3. ALWAYS Add Upsells During Checkout

Adding in upsells and cross-sells during the checkout process is a great way to increase AOV.

And you see this tactic everywhere where money is being exchanged. At the supermarket, on Amazon, at the gas station. That’s what all those mouthwatering candy bars are doing there in the checkout line!

They’re there because putting impulse buys at the end of a shopping experience gets people to buy. Throwing in a few relevant and useful add-ons to your checkout page is a quick and easy way to up the average order value of your customers. 

However, you don’t want to abandon the upsell best practice of making your offers relevant

Even if your offer is an impulse buy, you don’t want to do anything to poison the customer trust you’ve worked so hard to build. 

4. NEVER Make Their Prices Disproportionate

You never want to make the price difference between the original product and the upsell too high. 

Because if you do, no one is going to end up adding it on to their order. 

That’s because they’re already prepared to spend a certain amount once they’ve reached the checkout line. And if the price of the add ons you include is as much as the original product, it’s going to immediately seem like a bad offer. 

Instead, aim for a smaller price difference. Some experts say 25% of the original price is the sweet spot. Others claim 40%

In the end, though, the best thing you can do is A/B test what’s right for your business and your products. 

5. ALWAYS Follow Up With Emails (Seriously… ALWAYS)

Never miss a chance to follow up with past customers via email. 

Building and maintaining an email list is without a doubt one of the best ROIs in the industry. In fact, some estimates but the return on investment as high as 3,800% according to Hubspot.

That’s because email is a direct avenue of speaking to your customers. 

  • You can nurture the relationship by sending them content they’ll get value out of. 
  • You can clue them in to special promotions you’re running right now. 
  • You can show them the value of upgrading their current plan. 
  • And you can increase their CLV by cross-selling other products that they’re sure to enjoy. 

Just be sure to make things relevant and useful by personalizing each email. Otherwise, you may be doing more harm to your relationship than good. 

6. NEVER Resort to Sneaky Tactics

We’ve all seen those upsell pages that pull out all the superficial stops to get you to buy. 

The bright colors, the flashing lights, the bolded and uppercase fonts. They’re annoying, right? 

They reek of desperation. And they certainly don’t change your mind and get you to buy in most cases. 

But what’s even worse than that is using sneaky tactics to get your customers to add an upsell. 

Tactics like making it harder to decline your offer with hidden “No Thanks” buttons. Or wording the copy in such a confusing way that visitors click to opt out only to find they’ve actually been signed up for the add on. 

Do not do this. Doing so can instantly devastate the trust you’ve built with your audience this far. 

And even if they do end up signing on to purchase the upsell, they likely won’t be coming back to buy anything from you again. 

7. ALWAYS Try to Bundle Your Upsells When You Can

Bundling is a great tactic used by marketers in nearly every industry. It’s when the specific features and details of your product or service are included in one over-arching price rather than separated out. 

AutoGrow, for example, includes Copywriting, Quality Assurance, Graphic Design, Strategy Sessions, and Ad Management in all of our monthly packages of our Done-For-You sales funnel service without calling out the individual costs of each. 

In addition to this saving us a heck of a lot of time pricing each (after all, each is 100% integral to delivering a polished and high-converting end product), it also makes it easier to get buy-in from clients. 

Why? 

Because bundling actually triggers fewer pain points than seeing the costs of each feature. Instead of 5 price tags, clients only see 1. And for many, that’s a much easier pill to swallow.

Conclusion

Upselling is one of the best ways to increase the AOV and CLV of your audience. And at the same time, incorporating upselling/cross-selling into your business is actually more cost-effective than spending money on bringing in new customers. 

If your interest is piqued and you’re looking to start upselling (and honestly, why wouldn’t you be), there are 7 things in particular you can do to make it more successful…

  • ALWAYS Add Value
  • NEVER Make It Meaningless
  • ALWAYS Add Upsells During Checkout
  • NEVER Make Their Prices Disproportionate
  • ALWAYS Follow Up With Emails (Seriously… ALWAYS)
  • NEVER Resort To Sneaky Tactics
  • ALWAYS Try To Bundle Your Upsells When You Can

And if you do all of those, you’re sure to see a hefty bump in your bottom line thanks to your upselling efforts. 

How has upselling improved your business? What techniques, in particular, have you used that have gotten you results? 

Let us know in the comments below. 

And as always…

Keep funnelin’, stay focused,

Alex T.

Read more

7 Techniques for Mastering the Upsell & Boosting Customer Buy-In

Source: https://www.autogrow.co/7-techniques-for-upselling/

Have you ever played Starcraft? And what about Civilization? Or any other computer strategy game for that matter? 

In these kinds of games, you basically control the growth and evolution of a society. 

In order to grow, you need to mine and collect resources. Lumber, ore, food, stones—you know, the building blocks of any great civilization. 

And like so many other games, the end goal is usually to dominate the other societies on the map. 

Now, a lot of people make the mistake of focusing all their efforts on boosting military power first thing. But the truth is, upgrading your ability to mine resources better is the key to success. Because when you focus on that, you can get more lumber out of a tree. More stone out of a quarry. And more ore out of a mine. 

You’re getting more value out of the same resource

And that lets you grow, advance, and thrive faster than the other societies you’re competing with. 

Upselling is like upgrading your business’ ability to mine value from your customers. It lets you earn higher revenue per client. And that means you don’t have to spend nearly as much time on finding new clients… when you do it right

In this article you will learn how to master the art of upselling, why they work, and how they help you get more value from fewer customers.

So let’s start skyrocketing your customer value with upselling right now!

What is an Upsell?

Before getting into how upselling can help you boost your business, let’s make sure we understand what an upsell is. 

Here’s a quick definition we go by here at AutoGrow: 

An upsell is a technique where you entice a customer to buy more. You can do this by providing upgrades, expensive items, or other add-ons to their purchase to increase the dollar amount of the entire purchase.

Simply put, an upsell is just a way to increase the value of each customer. It accomplishes that goal by getting a customer to buy other products or upgrade to higher value ones that you offer. 

There are two main ways of incorporating upselling into your business. 

1. Increase the Average Order Value (AOV) by getting clients to buy other products or upgrading before checking out. 

2. Increase the Customer Lifetime Value (CLV) by getting clients to buy other products or upgrading after checking out (this is where a solid email nurturing campaign comes in).

Why Do I Need to Start Upselling? 

Simple… 

It makes you money. Why else do you do anything in a business? 

Upselling increases the value of a customer. Whether it’s by boosting their initial purchase value or by increasing the lifetime value, the end result is still the same: your customers will be worth more. 

But what makes upselling different is the fact that it’s often an especially simple and cost-effective way of increasing the value of a customer. 

For example, we’ve all heard the old saying that it’s more costly to get new customers than to retain old ones. But do you know just how huge the difference is? 

Some estimates put it at being 5X more expensive to find new customers compared to selling to older ones. 

In fact, boosting customer retention rates by just 5% has been shown to lead to profit increases of 25% or more! That’s because returning customers have a higher CLV. They’re easier to sell to, often have a higher AOV when they do buy from you, and they are a great source for referrals too. 

Okay, so increasing retention is great for business. But what a lot of businesses don’t take into account is that boosting monetization of current customers also comes with a huge ROI boost

We covered this in another post about upselling but it’s worth repeating here. 

In a study of 512 different companies, Price Intelligently, a pricing strategy company, found that increasing monetization of current customers is the fastest route to boosting profits. 

As you can see from the graph below, improving the AOV (monetization) of customers by just 1% can lead to a 12.7% increase in profits

Retention came in second with a 6.71% profit boost per 1% improvement and acquisition was dead last with just a 3.32% increase. 

Source: Price Intelligently

The main takeaway here is clear: increasing the AOV and CLV of customers is more important than bringing in new ones. 

And upselling is the best and easiest way to do both.

Upselling vs. Cross-Selling

There’s usually quite a bit of confusion surrounding this question. And in fact, a lot of the time people just use the two terms interchangeably. I’m guilty of it myself. 

Now, in most cases using the wrong term here won’t be the difference between life or death. 

But when you get down to the nitty-gritty of it all, there are some distinct differences between the two. So let’s take a look at just what those differences are. 

  • Upselling: This is technically when a business or service offers an upgrade to a product that a customer has picked out. Take AutoGrow for example. Our instant Done-For-You funnel marketing team’s Ultimate Package is our most popular. But we also know some clients will get more value out of the Supreme Package. So we send out an upsell email describing the benefits of switching to the Supreme Package so our clients understand if it’s a good fit for their business. That’s an upsell
  • Cross-Selling: This is when you offer a different product or service to a customer after they’ve already chosen what they’re buying from you. Amazon does a great job at this. There’s an entire section of every product page that shows you what other products are frequently bought together with the one you’re looking at. If I look at a baseball glove, for example, it also shows me baseballs and glove oil, right on the same page! There are even a few buttons right there so you can add them to your cart with just one click. That’s cross-selling. 

There are plenty of other examples of upsells and cross-sells out there today, especially as e-commerce becomes the main way we shop today. 

And honestly, distinguishing between the two isn’t as important as understanding what both accomplish, which is increasing the value of a customer. 

3 Reasons Why Upselling/Cross-Selling Works

Upselling and cross-selling are two of the best ways to boost monetization and retention of customers. And as we’ve seen, focusing on these two areas in particular can increase profitability by 3-4X more than concentrating on customer acquisition. 

But why do these tactics work? Why do people respond to them? And what is it about these techniques that make them irresistible when done right? 

There are 3 reasons here…

  • Emotional Excitement: First and foremost, there’s the thrill of buying! Okay, so emotions may not be running too high when you’re purchasing a new loofa or a pack of undershirts. But there are two things in particular that bring out our emotional side when buying: the promise of a better you (smarter, sexier, funnier, happier, whatever!) and cashing in on an exceptional deal (high value for low cost). Upselling taps into those emotions from the original product and makes them even stronger. They’re taking what makes you feel good about buying and giving it a boost along the way. 
  • Already Spending Money: The hardest part about spending money is… well, first deciding to spend money. There’s the guilt, the uncertainty, the skepticism—it all adds up to you asking yourself, “Is this really worth it?” But when you’ve already barrelled past those obstacles once, it makes it so much easier to keep on doing it. Once you’ve actually decided to spend money on a purchase, you’ve broken down the floodgates. And making an additional purchase (as long as it has value) is going to be easier than deciding to make the first. 
  • Trust Is Built: Finally, once you’ve built up trust with a customer, it’s far easier to sell to them again and again. One of the most commonly pointed to stats here is from Marketing Metrics. It says, “The probability of selling to a new prospect is 5%-20%. The probability of selling to an existing customer is 60-70%.” That’s because you’ve already shown past customers that you deliver value. And once you’ve done that, you become a trusted source of quality products or services. All that’s left now is maintaining that trust.

7 Things to ALWAYS (and NEVER) Do When Upselling

So, now that we know what upselling is, why to do it, and why it works, let’s take a look at 7 tips for upselling the right way. 

1. ALWAYS Add Value 

If there’s only one thing you should take away from this article it’s that an upsell should always add value to your customer. 

Offering value is the key to getting your customers to sign on to buying more from you. 

And one way to make sure your customers are getting value from the products you’re offering is by choosing upsells that are relevant. This is especially important with cross-selling.

If you’re offering a course on marketing, for instance, a good cross-sell would be a collection of case studies outlining the best conversion optimization techniques like our Proven Sales Conversion Pack

The more relevant you can make your upsell or cross-sell offer, the more likely your customers will be to buy. 

2. NEVER Make It Meaningless

In the same vein as the last tip, don’t ever throw in products just for the sake of including an upsell. 

Upselling is first and foremost about increasing the value of a customer. 

But trying to get your customers to add on something that’s completely irrelevant to who they are and what they’re trying to do is a quick way to lose trust. Plus, it makes your brand seem a little scummy. 

So not only will your upsell probably not perform that great, but it’ll also knock your reputation down a peg too. And that can spell out trouble for keeping your customers loyal. 

3. ALWAYS Add Upsells During Checkout

Adding in upsells and cross-sells during the checkout process is a great way to increase AOV.

And you see this tactic everywhere where money is being exchanged. At the supermarket, on Amazon, at the gas station. That’s what all those mouthwatering candy bars are doing there in the checkout line!

They’re there because putting impulse buys at the end of a shopping experience gets people to buy. Throwing in a few relevant and useful add-ons to your checkout page is a quick and easy way to up the average order value of your customers. 

However, you don’t want to abandon the upsell best practice of making your offers relevant

Even if your offer is an impulse buy, you don’t want to do anything to poison the customer trust you’ve worked so hard to build. 

4. NEVER Make Their Prices Disproportionate

You never want to make the price difference between the original product and the upsell too high. 

Because if you do, no one is going to end up adding it on to their order. 

That’s because they’re already prepared to spend a certain amount once they’ve reached the checkout line. And if the price of the add ons you include is as much as the original product, it’s going to immediately seem like a bad offer. 

Instead, aim for a smaller price difference. Some experts say 25% of the original price is the sweet spot. Others claim 40%

In the end, though, the best thing you can do is A/B test what’s right for your business and your products. 

5. ALWAYS Follow Up With Emails (Seriously… ALWAYS)

Never miss a chance to follow up with past customers via email. 

Building and maintaining an email list is without a doubt one of the best ROIs in the industry. In fact, some estimates but the return on investment as high as 3,800% according to Hubspot.

That’s because email is a direct avenue of speaking to your customers. 

  • You can nurture the relationship by sending them content they’ll get value out of. 
  • You can clue them in to special promotions you’re running right now. 
  • You can show them the value of upgrading their current plan. 
  • And you can increase their CLV by cross-selling other products that they’re sure to enjoy. 

Just be sure to make things relevant and useful by personalizing each email. Otherwise, you may be doing more harm to your relationship than good. 

6. NEVER Resort to Sneaky Tactics

We’ve all seen those upsell pages that pull out all the superficial stops to get you to buy. 

The bright colors, the flashing lights, the bolded and uppercase fonts. They’re annoying, right? 

They reek of desperation. And they certainly don’t change your mind and get you to buy in most cases. 

But what’s even worse than that is using sneaky tactics to get your customers to add an upsell. 

Tactics like making it harder to decline your offer with hidden “No Thanks” buttons. Or wording the copy in such a confusing way that visitors click to opt out only to find they’ve actually been signed up for the add on. 

Do not do this. Doing so can instantly devastate the trust you’ve built with your audience this far. 

And even if they do end up signing on to purchase the upsell, they likely won’t be coming back to buy anything from you again. 

7. ALWAYS Try to Bundle Your Upsells When You Can

Bundling is a great tactic used by marketers in nearly every industry. It’s when the specific features and details of your product or service are included in one over-arching price rather than separated out. 

AutoGrow, for example, includes Copywriting, Quality Assurance, Graphic Design, Strategy Sessions, and Ad Management in all of our monthly packages of our Done-For-You sales funnel service without calling out the individual costs of each. 

In addition to this saving us a heck of a lot of time pricing each (after all, each is 100% integral to delivering a polished and high-converting end product), it also makes it easier to get buy-in from clients. 

Why? 

Because bundling actually triggers fewer pain points than seeing the costs of each feature. Instead of 5 price tags, clients only see 1. And for many, that’s a much easier pill to swallow.

Conclusion

Upselling is one of the best ways to increase the AOV and CLV of your audience. And at the same time, incorporating upselling/cross-selling into your business is actually more cost-effective than spending money on bringing in new customers. 

If your interest is piqued and you’re looking to start upselling (and honestly, why wouldn’t you be), there are 7 things in particular you can do to make it more successful…

  • ALWAYS Add Value
  • NEVER Make It Meaningless
  • ALWAYS Add Upsells During Checkout
  • NEVER Make Their Prices Disproportionate
  • ALWAYS Follow Up With Emails (Seriously… ALWAYS)
  • NEVER Resort To Sneaky Tactics
  • ALWAYS Try To Bundle Your Upsells When You Can

And if you do all of those, you’re sure to see a hefty bump in your bottom line thanks to your upselling efforts. 

How has upselling improved your business? What techniques, in particular, have you used that have gotten you results? 

Let us know in the comments below. 

And as always…

Keep funnelin’, stay focused,

Alex T.

Read more

7 Techniques for Mastering the Upsell & Boosting Customer Buy-In

Source: https://www.autogrow.co/7-techniques-for-upselling/

Have you ever played Starcraft? And what about Civilization? Or any other computer strategy game for that matter? 

In these kinds of games, you basically control the growth and evolution of a society. 

In order to grow, you need to mine and collect resources. Lumber, ore, food, stones—you know, the building blocks of any great civilization. 

And like so many other games, the end goal is usually to dominate the other societies on the map. 

Now, a lot of people make the mistake of focusing all their efforts on boosting military power first thing. But the truth is, upgrading your ability to mine resources better is the key to success. Because when you focus on that, you can get more lumber out of a tree. More stone out of a quarry. And more ore out of a mine. 

You’re getting more value out of the same resource

And that lets you grow, advance, and thrive faster than the other societies you’re competing with. 

Upselling is like upgrading your business’ ability to mine value from your customers. It lets you earn higher revenue per client. And that means you don’t have to spend nearly as much time on finding new clients… when you do it right

In this article you will learn how to master the art of upselling, why they work, and how they help you get more value from fewer customers.

So let’s start skyrocketing your customer value with upselling right now!

What is an Upsell?

Before getting into how upselling can help you boost your business, let’s make sure we understand what an upsell is. 

Here’s a quick definition we go by here at AutoGrow: 

An upsell is a technique where you entice a customer to buy more. You can do this by providing upgrades, expensive items, or other add-ons to their purchase to increase the dollar amount of the entire purchase.

Simply put, an upsell is just a way to increase the value of each customer. It accomplishes that goal by getting a customer to buy other products or upgrade to higher value ones that you offer. 

There are two main ways of incorporating upselling into your business. 

1. Increase the Average Order Value (AOV) by getting clients to buy other products or upgrading before checking out. 

2. Increase the Customer Lifetime Value (CLV) by getting clients to buy other products or upgrading after checking out (this is where a solid email nurturing campaign comes in).

Why Do I Need to Start Upselling? 

Simple… 

It makes you money. Why else do you do anything in a business? 

Upselling increases the value of a customer. Whether it’s by boosting their initial purchase value or by increasing the lifetime value, the end result is still the same: your customers will be worth more. 

But what makes upselling different is the fact that it’s often an especially simple and cost-effective way of increasing the value of a customer. 

For example, we’ve all heard the old saying that it’s more costly to get new customers than to retain old ones. But do you know just how huge the difference is? 

Some estimates put it at being 5X more expensive to find new customers compared to selling to older ones. 

In fact, boosting customer retention rates by just 5% has been shown to lead to profit increases of 25% or more! That’s because returning customers have a higher CLV. They’re easier to sell to, often have a higher AOV when they do buy from you, and they are a great source for referrals too. 

Okay, so increasing retention is great for business. But what a lot of businesses don’t take into account is that boosting monetization of current customers also comes with a huge ROI boost

We covered this in another post about upselling but it’s worth repeating here. 

In a study of 512 different companies, Price Intelligently, a pricing strategy company, found that increasing monetization of current customers is the fastest route to boosting profits. 

As you can see from the graph below, improving the AOV (monetization) of customers by just 1% can lead to a 12.7% increase in profits

Retention came in second with a 6.71% profit boost per 1% improvement and acquisition was dead last with just a 3.32% increase. 

Source: Price Intelligently

The main takeaway here is clear: increasing the AOV and CLV of customers is more important than bringing in new ones. 

And upselling is the best and easiest way to do both.

Upselling vs. Cross-Selling

There’s usually quite a bit of confusion surrounding this question. And in fact, a lot of the time people just use the two terms interchangeably. I’m guilty of it myself. 

Now, in most cases using the wrong term here won’t be the difference between life or death. 

But when you get down to the nitty-gritty of it all, there are some distinct differences between the two. So let’s take a look at just what those differences are. 

  • Upselling: This is technically when a business or service offers an upgrade to a product that a customer has picked out. Take AutoGrow for example. Our instant Done-For-You funnel marketing team’s Ultimate Package is our most popular. But we also know some clients will get more value out of the Supreme Package. So we send out an upsell email describing the benefits of switching to the Supreme Package so our clients understand if it’s a good fit for their business. That’s an upsell
  • Cross-Selling: This is when you offer a different product or service to a customer after they’ve already chosen what they’re buying from you. Amazon does a great job at this. There’s an entire section of every product page that shows you what other products are frequently bought together with the one you’re looking at. If I look at a baseball glove, for example, it also shows me baseballs and glove oil, right on the same page! There are even a few buttons right there so you can add them to your cart with just one click. That’s cross-selling. 

There are plenty of other examples of upsells and cross-sells out there today, especially as e-commerce becomes the main way we shop today. 

And honestly, distinguishing between the two isn’t as important as understanding what both accomplish, which is increasing the value of a customer. 

3 Reasons Why Upselling/Cross-Selling Works

Upselling and cross-selling are two of the best ways to boost monetization and retention of customers. And as we’ve seen, focusing on these two areas in particular can increase profitability by 3-4X more than concentrating on customer acquisition. 

But why do these tactics work? Why do people respond to them? And what is it about these techniques that make them irresistible when done right? 

There are 3 reasons here…

  • Emotional Excitement: First and foremost, there’s the thrill of buying! Okay, so emotions may not be running too high when you’re purchasing a new loofa or a pack of undershirts. But there are two things in particular that bring out our emotional side when buying: the promise of a better you (smarter, sexier, funnier, happier, whatever!) and cashing in on an exceptional deal (high value for low cost). Upselling taps into those emotions from the original product and makes them even stronger. They’re taking what makes you feel good about buying and giving it a boost along the way. 
  • Already Spending Money: The hardest part about spending money is… well, first deciding to spend money. There’s the guilt, the uncertainty, the skepticism—it all adds up to you asking yourself, “Is this really worth it?” But when you’ve already barrelled past those obstacles once, it makes it so much easier to keep on doing it. Once you’ve actually decided to spend money on a purchase, you’ve broken down the floodgates. And making an additional purchase (as long as it has value) is going to be easier than deciding to make the first. 
  • Trust Is Built: Finally, once you’ve built up trust with a customer, it’s far easier to sell to them again and again. One of the most commonly pointed to stats here is from Marketing Metrics. It says, “The probability of selling to a new prospect is 5%-20%. The probability of selling to an existing customer is 60-70%.” That’s because you’ve already shown past customers that you deliver value. And once you’ve done that, you become a trusted source of quality products or services. All that’s left now is maintaining that trust.

7 Things to ALWAYS (and NEVER) Do When Upselling

So, now that we know what upselling is, why to do it, and why it works, let’s take a look at 7 tips for upselling the right way. 

1. ALWAYS Add Value 

If there’s only one thing you should take away from this article it’s that an upsell should always add value to your customer. 

Offering value is the key to getting your customers to sign on to buying more from you. 

And one way to make sure your customers are getting value from the products you’re offering is by choosing upsells that are relevant. This is especially important with cross-selling.

If you’re offering a course on marketing, for instance, a good cross-sell would be a collection of case studies outlining the best conversion optimization techniques like our Proven Sales Conversion Pack

The more relevant you can make your upsell or cross-sell offer, the more likely your customers will be to buy. 

2. NEVER Make It Meaningless

In the same vein as the last tip, don’t ever throw in products just for the sake of including an upsell. 

Upselling is first and foremost about increasing the value of a customer. 

But trying to get your customers to add on something that’s completely irrelevant to who they are and what they’re trying to do is a quick way to lose trust. Plus, it makes your brand seem a little scummy. 

So not only will your upsell probably not perform that great, but it’ll also knock your reputation down a peg too. And that can spell out trouble for keeping your customers loyal. 

3. ALWAYS Add Upsells During Checkout

Adding in upsells and cross-sells during the checkout process is a great way to increase AOV.

And you see this tactic everywhere where money is being exchanged. At the supermarket, on Amazon, at the gas station. That’s what all those mouthwatering candy bars are doing there in the checkout line!

They’re there because putting impulse buys at the end of a shopping experience gets people to buy. Throwing in a few relevant and useful add-ons to your checkout page is a quick and easy way to up the average order value of your customers. 

However, you don’t want to abandon the upsell best practice of making your offers relevant

Even if your offer is an impulse buy, you don’t want to do anything to poison the customer trust you’ve worked so hard to build. 

4. NEVER Make Their Prices Disproportionate

You never want to make the price difference between the original product and the upsell too high. 

Because if you do, no one is going to end up adding it on to their order. 

That’s because they’re already prepared to spend a certain amount once they’ve reached the checkout line. And if the price of the add ons you include is as much as the original product, it’s going to immediately seem like a bad offer. 

Instead, aim for a smaller price difference. Some experts say 25% of the original price is the sweet spot. Others claim 40%

In the end, though, the best thing you can do is A/B test what’s right for your business and your products. 

5. ALWAYS Follow Up With Emails (Seriously… ALWAYS)

Never miss a chance to follow up with past customers via email. 

Building and maintaining an email list is without a doubt one of the best ROIs in the industry. In fact, some estimates but the return on investment as high as 3,800% according to Hubspot.

That’s because email is a direct avenue of speaking to your customers. 

  • You can nurture the relationship by sending them content they’ll get value out of. 
  • You can clue them in to special promotions you’re running right now. 
  • You can show them the value of upgrading their current plan. 
  • And you can increase their CLV by cross-selling other products that they’re sure to enjoy. 

Just be sure to make things relevant and useful by personalizing each email. Otherwise, you may be doing more harm to your relationship than good. 

6. NEVER Resort to Sneaky Tactics

We’ve all seen those upsell pages that pull out all the superficial stops to get you to buy. 

The bright colors, the flashing lights, the bolded and uppercase fonts. They’re annoying, right? 

They reek of desperation. And they certainly don’t change your mind and get you to buy in most cases. 

But what’s even worse than that is using sneaky tactics to get your customers to add an upsell. 

Tactics like making it harder to decline your offer with hidden “No Thanks” buttons. Or wording the copy in such a confusing way that visitors click to opt out only to find they’ve actually been signed up for the add on. 

Do not do this. Doing so can instantly devastate the trust you’ve built with your audience this far. 

And even if they do end up signing on to purchase the upsell, they likely won’t be coming back to buy anything from you again. 

7. ALWAYS Try to Bundle Your Upsells When You Can

Bundling is a great tactic used by marketers in nearly every industry. It’s when the specific features and details of your product or service are included in one over-arching price rather than separated out. 

AutoGrow, for example, includes Copywriting, Quality Assurance, Graphic Design, Strategy Sessions, and Ad Management in all of our monthly packages of our Done-For-You sales funnel service without calling out the individual costs of each. 

In addition to this saving us a heck of a lot of time pricing each (after all, each is 100% integral to delivering a polished and high-converting end product), it also makes it easier to get buy-in from clients. 

Why? 

Because bundling actually triggers fewer pain points than seeing the costs of each feature. Instead of 5 price tags, clients only see 1. And for many, that’s a much easier pill to swallow.

Conclusion

Upselling is one of the best ways to increase the AOV and CLV of your audience. And at the same time, incorporating upselling/cross-selling into your business is actually more cost-effective than spending money on bringing in new customers. 

If your interest is piqued and you’re looking to start upselling (and honestly, why wouldn’t you be), there are 7 things in particular you can do to make it more successful…

  • ALWAYS Add Value
  • NEVER Make It Meaningless
  • ALWAYS Add Upsells During Checkout
  • NEVER Make Their Prices Disproportionate
  • ALWAYS Follow Up With Emails (Seriously… ALWAYS)
  • NEVER Resort To Sneaky Tactics
  • ALWAYS Try To Bundle Your Upsells When You Can

And if you do all of those, you’re sure to see a hefty bump in your bottom line thanks to your upselling efforts. 

How has upselling improved your business? What techniques, in particular, have you used that have gotten you results? 

Let us know in the comments below. 

And as always…

Keep funnelin’, stay focused,

Alex T.

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Add to Basket: 6 Tips to Protect Yourself from Cybercrime This Holiday Season

Source: https://postfunnel.com/add-to-basket-6-tips-to-protect-yourself-from-cybercrime-this-holiday-season/

Consumers aren’t the only ones with shopping lists this holiday season. Cybercriminals will also be hitting online stores for special deals. During the 2018 holiday shopping season, the average basket value of transactions rejected as fraudulent was 2.7 times higher than the value of legitimate transactions. And 2019 won’t be all that different. Considering cybercrime’s negative effects on customer loyalty and brand reputation, cybersecurity should concern all company personnel, not just executives. Check out the following tips as a starting point to ward off cybercrime.

While you’re here, check out these other retail marketing tips from  PostFunnel and Optimove:
Big Data in Retail: How Customer Data Platforms Enhance The User Experience
How Immersive Environments Redefine The Modern Retail Experience
Existing Customers Are STILL More Valuable Than New Ones During The Holidays

Retail Pulse

Use 3D Secure to Fight Chargeback

Chargeback fraud eats at your profit and may prevent you from accepting credit cards altogether. One smart way to prevent chargeback fraud is by using 3D Secure. This advanced tool enables shoppers to authenticate themselves with a password or pin before completing online purchases. Below are some things to keep in mind when using 3D :

  • Choose the Right Partner: Ensure the 3D Secure solution you choose is easily integrated into your eCommerce platform, scalable, and offers mobile optimization.
  • Liability Shift: Understand which party is liable for fraudulent chargebacks, the point at which the obligation shifts to the card issuer, and which transactions are covered. Check with issuing banks to familiarize yourself with liability shift terms.
  • Educate Customers: Inform customers early in the checkout process that you’re using 3D Secure and that they’ll face extra authentication. Use microcopy to explain the benefits of 3D Secure and any relevant logistics. To boost consumer trust, display the Verified by Visa or MasterCard SecureCode logo on your website.

Look Out for Abnormal Online Behavior

Fraudsters often leave red flags while shopping, and if you spot these behaviors on time, you may be able to prevent them from doing damage. Below are some examples of suspicious behaviors indicating potential fraud:

  • Addresses Don’t Match: If the shipping and billing addresses differ, proceed with caution. To detect fraudulent transactions, use an AVS (Address Verification Service) tool. Work with a payment processor that allows you to customize the rules so you can spot fraud without denying legitimate purchases.
  • Multiple Orders of the Same Item: Watch out for repetitive orders of the same item in different colors or sizes. Your fraud detection tool should be able to monitor the data involved in each transaction and flag suspicious purchases made in rapid succession.
  • Unusually Large Orders: Fraudsters try to buy as much as they can as fast as possible. Doublecheck orders that are significantly higher than your average transaction. To be safe, limit large transactions by specifying minimums and maximums for legitimate purchases.
  • Order of Big-Ticket Items: Criminals often go for items with the biggest resale earning potential. Invest in adaptive behavior analytics to identify legitimate customers and to prevent false positives.

Stock Up on Advanced Tools

With cybercriminals today using advanced techniques to launch sophisticated attacks, yesterday’s defense tools aren’t enough to protect you from today’s attacks. Beyond security code and shipping address verification, check out these advanced tools for your anti-fraud arsenal:

  • Advanced Identity & Transaction Verification Solutions: Use advanced identity and transaction verification solutions such as rules-based filters, automation, transaction scoring, and real-time transaction tracking to prevent identity theft and reduce the risk of fast fraud.
  • Adaptive Behavioral Analytics: To differentiate between actual fraud and activities that appear suspicious but are actually legit, include adaptive behavioral analytics technology in your stack. Your solution should ensure that models and profiles are built and updated based on each customer and merchant profile.
  • Artificial Intelligence: Invest in AI-based solutions to respond faster to breaches. 61% of retailers say they couldn’t respond to cyberattacks without AI. To successfully implement AI in your cybersecurity strategy, Capgemini suggests you identify data sources and create data platforms to operationalize AI, train cyber analysts to be AI-ready, and deploy security orchestration, automation, and response to improve security.

Prepare for Account Takeover Fraud

Account takeover (ATO) fraud is a successful attack vector for cybercriminals. Here are three tips to help you prevent account takeover fraud:

Bot Management: Automated bot attacks were the primary attack vector during the 2018 peak holiday shopping week. Use dedicated bot management solutions to identify fraudulent bots through pattern and behavioral analysis. Ensure the solution automatically prioritizes genuine customers in real-time while preventing unwanted bot traffic.

Strong Passwords: Use automatic password strength checkers to ensure users have strong passwords and employ a password screening tool to prevent customers from using compromised logins.

Credential Screening: A whopping 91% of the login attempts on online retailers’ websites were made by hackers using stolen data. Prevent the reuse of compromised credentials on your website by using a credential screening solution for usernames and passwords. Work with a solution that allows you to customize your response to compromised credentials.

Secure Your Mobile App

Mobile apps are also an attractive target to hackers. In fact, they carry the highest fraud risk after desktop web browsers. Considering the importance of shopping apps, mobile app security mustn’t be an afterthought. Here are some tips to help you secure your app this holiday season:

Have a Mobile Fraud Strategy: Prepare a dedicated mobile risk strategy with a set of criteria to identify, validate, and authorize mobile purchases. Use specialized risk management tools and services for your mobile apps and get a detailed assessment of your fraud exposure to identify where your app is vulnerable.

Use Strong Encryption: 92% of all online retail apps actively leak sensitive customer information. Make use of strong encryption to prevent hackers from accessing customer data. Secure personal and financial customer information during communication and storage according to the PCI DSS security guidelines.

Beef Up Authentication:  Use multi-layer authentication like sending a one-time password to an authenticated email address to prevent bad actors from gaining access to sensitive information.

Remember the Human Factor

Surprisingly, temporary workers with high turnover rates may be your biggest security threat this holiday season. 83% of companies have had an incident where employees accidentally exposed customer or business data. To help minimize risks from insider threats, here are some steps you can take:

Bolster Your Security Culture: Strengthen your cyberculture by documenting your security policies, communicating them consistently during onboarding, and encouraging employees to report breaches.

Security Awareness Training: Carry out regular hands-on security awareness training so that employees can understand cyber risks and their business implications, recognize potential insider threats, and minimize risks. Customize training content based on individual company status or department risk profile and include modules on social engineering and sharing permissions.

Look Out for Malicious Employees: To prevent a disgruntled employee from intentionally sabotaging your business, track insider behavior by monitoring and logging access to sensitive data. Stay alert to risks by cross-referencing employees’ cyber footprints with suspicious behaviors such as accessing critical information, data dumps from key applications and working outside of normal hours.

Don’t Let Fraudsters Rob You This Holiday Season

As criminals prepare to wreak havoc this holiday season, keep in mind that no single initiative will guarantee security. Adopt a multi-layer solution approach to cover all your bases, work with experienced data and fraud experts, and participate in an information-sharing partnership to identify current fraud threats. Lastly, track all attempts to plug gaps in your cybersecurity strategy and help your team maintain over these ever-evolving attacks.

The post Add to Basket: 6 Tips to Protect Yourself from Cybercrime This Holiday Season appeared first on Post Funnel.

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5 Funnel Optimization Tweaks You Can Make this Afternoon to Supercharge Conversions

Source: https://www.autogrow.co/5-funnel-optimization-tweaks-to-boost-conversions/

Have you heard of elephant toothpaste?

No, no, it’s not made up, I promise. 

And I know you’re probably wondering how funnels and conversion boosts could possibly relate to that… 

You see, elephant toothpaste is a science experiment. The kind of experiment that middle school teachers show their students.

And what makes it so fun to watch is the spectacle of it… how just a few tiny ingredients mixed together can make such a huge splash.

Teachers pour just half a cup of hydrogen peroxide into a flask (*The heads of the middle schoolers perk up a bit*). 

Then in goes about a tablespoon of regular old dish soap (*The class is still skeptical*). 

The teacher smiles, takes a small step back, and puts on his safety goggles (*Each kid’s eyes are practically popping out of their head in anticipation*). 

Then slowly, carefully, the teacher drops in a small container of liquid and…

BAM!

The flask erupts with foam, sending puffy tubes of white snaking high into the air as the class bursts into cheers. 

That liquid in that small container was potassium iodide. 

And in this experiment, it’s what’s known as a catalyst—an element that speeds up a chemical reaction.  

It’s a tiny change that can lead to an enormous difference.

And like elephant toothpaste, making just a few little tweaks to your sales funnel can lead to huge jumps in conversions. If you know what changes to make that is. 

Today, that’s exactly what you’ll learn from this article. Teensy little changes you can make to your sales funnel that can net some seriously mammoth jumps in conversions.

So, let’s get to it!

Obvious & Not-So-Obvious Reasons to Optimize Your Funnel

Before we jump into the small optimizations that can lead to some pretty big wins, let’s take a sec to answer this question…

Why should you optimize your funnel? 

Sounds dumb, right? 

Of course the goal behind optimizing your sales funnel is to get more conversions. 

More leads. More sales. More more out of your funnel. 

But optimization isn’t always just about the “more more.” And in fact, there are a few other reasons to optimize that you may not realize.

  • Your Goal is ULTRA-Qualified Leads – Just because you have more traffic coming into your funnel and even booking a call doesn’t mean that you’re getting what you want. Because some of the time, qualification is more important than quantity. That’s especially true with high-ticket funnels where a single sale can be worth thousands. So it may pay off to optimize your funnel for qualified leads rather than more leads. 
  • You Need Optimization Maintenance – Sadly, even the most expertly-crafted sales funnels won’t be able to maintain the same conversions forever. It could be the changing copywriting norms. Or the shifting of technology. Or maybe just the slowing of the market. No matter what the cause is, your conversion rates are bound to drop at some point if you don’t touch your funnel after it’s built. Regular optimization, then, is a downright necessity for not just giving your conversion rates a boost, but even keeping them stable
  • You Aren’t Always After the Sale – Finally, the sale itself isn’t always the end goal of a funnel. Weird, huh? Some are meant to create long-term relationships. Others are meant for hiring. And others are focused on education, promoting an event, or building your personal brand. Funnels are meant to guide your audience to a goal, not just a transfer of money. And with that in mind, the funnel optimization techniques of, say, a church may be far different than those of an online Hello Kitty retailer. So why optimize? Well, it depends on the business…

Funnel Optimization Basics: a Quick List

Now, before you can start optimizing your funnel to suit your goal, you’ve got to have a few basic tools and functionality in place first. 

For seasoned digital marketers and online retailers, this section might be a bit of a no-brainer. But even still, be sure to go through the quick list below to make sure you’re completely covered anyway. 

  • Website Analytics – If you’ve got a sales funnel up and running, step #1 is making sure you have an analytics platform set up to track it. Why? Because what gets tracked gets done. Only after measuring your funnel’s performance can you start to see where it needs improvement. Or where leads are leaking out. Or where you’re bringing in the wrong kind of customers. All of it starts with tracking your funnel’s metrics. There are tons of options out there but setting up a Google Analytics dashboard is always a great place to start. 
  • Email Marketing – Email marketing is a core component of any successful funnel. It’s the easiest way to speak directly to your prospects on your own terms. And it’s a powerful tool for building a relationship with your audience. Most sales funnels incorporate email marketing into their process at some point but the highest converting ones make it standard. Just be sure you’re building a quality email list rather than just a long one
  • Marketing Automation – Automation is at the heart of a sales funnel. Without it, shovelling your prospects from one piece of content to the next, sending out emails on your own, and segmenting your audiences… well it’d just be too exhausting. Marketing automation platforms do all that tiresome work for you instead. And surprisingly, they’re not as expensive as most people think. 
  • Customer Relationship Management (CRM) Tool – A CRM is a way to keep track of your customers or prospects so you can get them to your end goal even quicker. For instance, a CRM can tell you what type of content on your website someone has already engaged with so you can get a sense of how ready they are to buy. They can also keep track of your email subscribers, score leads on how qualified they are, and send them relevant content to keep them heading down your funnel. Our favorite at AutoGrow is ActiveCampaign (plus, it’s an email marketing and marketing automation platform too!).
  • A/B Testing – Finally, one of the most important parts of any sales funnel optimization effort is the ability to run A/B testing. A/B testing lets you put two variations of an element head to head to see which gets you closer to the desired result. For example, a call-to-action button right now could be light blue. With A/B testing, you can test whether an orange call-to-action button would actually bring in better results. When done right, A/B testing can turn up some pretty impressive results. And in fact, it’s what’s helped us discover the optimization tweaks I’m about to share with you. But A/B testing can also be tricky and time-consuming. Which is what makes this article so amazing… we’ve done all the hard work for you!

Alright, now that the basics are covered, let’s get into what you’re all here for: the optimization tweaks you can do in as little as one afternoon!

Funnel Optimization Tweak #1: Create Better CTAs (3 Proven Techniques)

First and foremost, let’s begin with what is arguably the most important element of any and every sales funnel…

The call-to-action

For as much autonomy and independent thought that people are capable of, most of us are more lemming than man (or woman). 

We trudge around day after day following paths that others expect us to follow. Thinking the things that others expect us to think.

And to make matters worse, most of the time we don’t even realize we’re doing so. Sure, we go through the process of weighing pros and cons in our mind in order to come to rational decisions. But in fact, a lot of the time the decision’s already been made by our subconscious long ago. 

It’s the driving force behind the old marketing adage, “People buy on emotion and justify with logic.”

And that is why you need to make your CTA as visible, clear, and magnetic as possible. 

Because the perfect customer will be able to figure out how to get in touch with you or the next steps that they need to follow. But for everyone else (me included), you simply have to spell it out for them. And if you don’t, your funnel may be leaking leads. 

Let’s take a look at 3 CTA examples from the 311 case studies in our Proven Sales Conversion Pack.

Example #1: Add the word “Free” onto the CTA button (even if it’s already in the headline). 

Conversion rate increase: 131.22%

BEFORE:

AFTER:

Example #2: Add specific value points to your CTA form.

Conversion rate increase: 83.75%

BEFORE:

AFTER:

Example #3: Make your CTA really stand out visually. Green is the go-to color since it’s the easiest to see but it may also connect with your audience on a subconscious level (what color is money anyway?).

Conversion rate increase: 86.91%

BEFORE:

AFTER:

So there you have it! Be sure to make those CTAs stand out so your audience knows exactly what they should be doing. And when you attach value in the copy too, it’ll make your CTAs downright irresistible. 

Funnel Optimization Tweak #2: Reframe Your Lead Magnet

Maybe you saw this one in Matt’s (founder of AutoGrow) video above. But even if you did, it’s worth repeating. 

Reframing your lead magnet is an especially simple yet powerful way to give your conversion rate a kick in the pants in no time at all. 

Here’s the gist of it. 

So as you probably already know, a lead magnet is a core asset for a sales funnel. A lot of the time, it’s the very first step that actually brings your prospects in. You offer a low-commitment item of value for free, and prospects tell you a little bit about themselves in order to get their hands on it. 

Most funnels use this technique to first gain access to an email address that you can later use to nurture that lead into a customer. 

But since it’s also usually one of the only entry points, a lead magnet with low conversions can cause a serious bottleneck for the rest of the funnel. 

Solution? Try reframing it as another kind of lead magnet. 

It’s easier than it sounds, I promise. 

You see, one of the 7 Laws of Funnel Physics is the Law of Alignment. When prospects move through your funnel and their expectations are met at every step of the way, your funnel’s well aligned. And that leads to better conversions. 

But in that same way, your lead magnet has to align with the unique preferences of the customer themselves. And that means offering the right kind of lead magnet for them can make it all the more clickable. 

So let’s say your current lead magnet offer is a checklist. Experiment with positioning it as a guide. Or your whitepaper as an eBook. 

In most cases, making the switch is as simple as adding in a few new bullet points, popping in a header or two, or removing a particularly dense chunk of text. 

And then A/B test the new version against the old one. You may be surprised at how awesome the results are. 

Funnel Optimization Tweak #3: Add Some Humanity to Your Funnel

Let’s try one with a bit more of the “human element.” 

People love people. Well, not always. And after just barely making it through the Thanksgiving season in one piece (family dinners, ugh), I can understand that on at least some level.  

So rather, people love to know that they’re working with people rather than some giant faceless capitalism machine. 

It’s the human element. And it sells. 

Now, one way you can add a bit of the human element to your sales funnel is by injecting some personality into the copy. Throw in a colloquialism or two. Use humor. Pepper your pages with vivid imagery, alliteration, and symbolic language. 

But we’re talking about optimization techniques you can pull off in an afternoon here. So depending on how much of a wordsmith you are, that might take a bit longer. 

So instead, try this… add pictures of real-life people to your website. 

Humans respond to the faces of others. In fact, a good chunk of our brain is dedicated specifically to recognizing barely perceptible changes in the faces of others. 

And when you pop a happy face onto your landing page, it can lead to serious conversion jumps. That goes double for when the person on your page is actually doing something human too (running on a road or holding a baby).

Case in point: check out this tiny change that boosted conversions by 66%!

BEFORE:

AFTER:

Look at that. Children really do make all the difference, huh? 

So, if you don’t have any smiling faces on your website, find some headshots of past clients on LinkedIn and throw them onto your website. It’ll only take a sec, I promise.

And if you can get pics that show these people for the living, breathing humans they really are, then all the better. 

Funnel Optimization Tweak #4: Offer a Second Version of Your Lead Magnet

This is the second tweak coming from Matt. And like the last tweak, it deals specifically with one of the most important parts of any funnel: the lead magnet

Except instead of focusing on the Law of Alignment, this one hits on the Law of Range. 

This law states that no matter what it is you’re selling (mug koozies, consultation services, or even luxury yachts), people love options

Different customization options, additional (or fewer) services, tiered package offerings—people like to choose from a range (eh?) of products rather than be stuck with with only one option. 

Bam—Law of Range. 

One exceedingly simple optimization technique you can use in your sales funnel, then, is giving your visitors more options on how to consume your lead magnet. 

Imagine this…

You’re checking out a service for, say, an instant funnel marketing team. And as you’re clicking around, you keep seeing an offer for a free guide to sales funnels on the sidebar. “Interesting,” you think. But unfortunately, your time is super limited thanks to your 1.5 hour commute each way. 

So you don’t click. 

Now, normally that’d be the end of it. Maybe a concentrated string of nurturing emails could get you to opt-in over time. But for most, making an initial evaluation of something sets a foundation that’s difficult if not impossible to tear up (i.e., you probably won’t ever change your mind).  

And so, you move the cursor up to that X on the window so you can start your day. But suddenly, an exit pop-up window appears. 

It looks like that free guide is available in audio format too! You could even listen to the whole thing on your way to work!

Click. Opt-in. Value. And now you’re a customer for life.

See how that works? It’s practically the same product but offering it lets you appeal to a much wider audience. 

And all you have to do is record yourself reading through the original lead magnet. That’s an hour or two of your afternoon. Tops. 

So give it a try. You might be surprised by the results. 

Funnel Optimization Tweak #5: Add More Form Fields

This one is bound to be a bit of a surprise for a lot of you. 

Ready? 

Add more form fields.

What? Why? How

Counterintuitive as it may seem, increasing the number of form fields on your opt-in can actually boost your conversions. 

For example, one info product actually saw a 120% jump in conversions just by adding fields for a first name and an email address. 

Check it out below. 

BEFORE:

AFTER:

So, why does this work again? Well, the theory is that adding more form fields actually increases the perceived value of the product. If it requires a little more commitment to get, then it’s got to be worth it, right? 

That being said, you certainly don’t want to overdo it. Because adding too many form fields (one of the most common conversion-hitting mistakes) can lead to the opposite effect. 

Why? 

While more form fields can do wonders for helping you segment your audience and increasing the perceived value of whatever they’re opting into, they can also be daunting. Overwhelming. And imply an uncomfortable level of commitment. 

When it comes to lead magnets especially (reasonable value for minimal commitment), you definitely don’t want to come on too strong. Otherwise, no one will click. And that means no one will get sucked into your funnel. 

Conclusion

So there you have it!

5 easy-peasy optimization techniques you can use to boost your conversions. 

  • Create better ctas 
  • Reframe your lead magnet
  • Add some humanity to your funnel
  • Offer a second version of your lead magnet
  • Add more form fields

Plus, each is so simple, you can pull them off in just a single afternoon. You could even do them today!

And if your audience responds to the changes you make, you could be seeing some massive improvements in your sales funnel performance in no time flat. 

Remember: the smallest tweaks can lead to the biggest changes. 

Just look at elephant toothpaste. 

What kinds of optimization techniques have you seen great results with in your funnel? Which of these have worked the best for you? And what middle-school science experiments were your favorite?

Let us know in the comments below. 

And as always…

Keep funnelin’, stay focused.

Alex T.

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The Do’s and Don’ts of Relationship Marketing

Source: https://postfunnel.com/the-dos-and-donts-of-relationship-marketing/

Relationship marketing is the technique of cultivating deep, long-term relationships with engaged customers. It’s all about ensuring their satisfaction and continued interaction with your brand or service over time. Achieving this requires a long-haul strategy that emphasizes customer experience and lifetime value over any individual transaction. In other words, relationship marketing and personal relationships require that same crucial ingredient: hard work. Maintaining connections with valuable customers requires constant attention, and if tiny mistakes accumulate without being addressed, the relationship will falter. Here are some important tips for what you should do — and avoid — to better support existing customers.

More from PostFunnel on relationship marketing:
How Simplicity Affect Customers’ Relationship with Brands
5 First-Rate Email Tips to Deepen The Relationship With Your Customers
Why has Online Shopping Become so Unpleasant? CRM Pros, You’re Missing the Target

DO: Generate and provide social proof

Social proof is a strong marketing force with direct impact on sales. 82% of Americans claim they look for endorsements from friends and family before making a purchase, and 91% of 18 to 34-year-olds trust online reviews as much as personal recommendations. You can encourage the social proof effect using referral programs that push customers and influencers toward becoming your brand ambassadors.

DON’T: Let a relationship go cold

Common wisdom says that it’s harder to start fires from scratch than to use warm coals. That’s true in relationships as well. For customers to come back to your business, they should see value in an ongoing relationship and remember positive experiences from past engagements. Keep refreshing their memories of strong customer service experiences with regular contact through available channels. Otherwise, the curve of forgetting may kick in as customers start to forget the quality of their experience.

Customer marketing challenges and opportunities

DO: Associate your brand with a customer need

Savvy marketers are always seeking ways to keep their brand in the customer’s thoughts. More specifically, when a customer needs a product you provide, they should immediately think of your company. Maintain an active presence through:

  • Social media announcements
  • Content marketing
  • One-on-one relationship management

DON’T: Become just another repetitive contact

Sending an email every 90 days without fail doesn’t mean you care about a customer relationship — it just means you know how to set calendar reminders. A better approach is to check in on contacts and nurture relationships in varied and interesting ways. Have you developed an interesting content piece that customers might be interested in? Send a link! Has your contact found a new job or started a business initiative? Send an email congratulating them. If your brand emphasizes in-person engagement, ask to meet for coffee or lunch if you notice they’re in your city from far away. These approaches can help you stand out and personalize communications in ways customers will remember.

DO: Value small talk

Relationship management is about human touches, even if within a professional context. There’s always value in going beyond rote greetings with a simple “How’s your business coming along” or “How’s your family?” Contradictory though it may seem, a customer who knows you’re invested in more than their sale is more likely to give you their business.

One technique which can assist you here is to share mutual needs. Feel free to discuss your own business needs and ask about theirs. You never know when this relationship might bring in new networking opportunities, or when you can build customer trust with a valuable recommendation.

DON’T: Prioritize short-term gain

Relationship marketing is a long game, so don’t get distracted by short-term gains. Prioritizing a long-term relationship might involve reinvesting in marketing expenses or customizing deals, but the rewards can benefit your brand and the customer alike. A mere 5% increase in customer retention can equal up to 95% increase in profit. Sustainable rewards like that are worth taking a little extra time and avoiding risky shortcuts.

DO: Proactively seek out feedback

Soliciting feedback on a product is better than waiting for answers. If you know that problems exist within 24 to 48 hours of a sale, it’s easier to address the issue and figure out how to avoid it in the future. As customers won’t necessarily deliver these insights unprompted—especially if they’re disappointed with a product or service—use surveys, phone calls, or even check-in emails to see how they’re managing with your product.

DON’T: Treat your customers as disposable

The most reliable relationships are built on trust. If you’ve completed a sale, follow up with check-ins to make sure your customers are satisfied and whether they need any additional tools. Prioritizing long-term relationships is partly about showing clients that you’re still accessible after a deal goes through, especially if you’re offering a service.

DO: Be authentic

Customers can usually tell when your marketing efforts are honest and transparent, but overselling yourself creates barriers to meaningful relationships. Studies have consistently shown that consumers prefer to make purchases from authentic brands. 86% of people say authenticity matters when they’re deciding whether or not to support a brand.

Being authentic can take different forms for different industries. For a company like Apple, it’s about staying true to their uncompromising vision of tech and design. For McDonald’s, it’s about never going off-message about fast, affordable food. For other industries, it might be more about charity dollars spent, or steps taken to mitigate environmental impacts. Above all, transparent communications can go a lot further with your customers than concocting brand narratives that are at odds with the reality of your product or service.

The post The Do’s and Don’ts of Relationship Marketing appeared first on Post Funnel.

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7 Questions to Ask When Hiring a PR Firm

Source: https://postfunnel.com/7-questions-to-ask-when-hiring-a-pr-firm/

It’s simple:

Good publicity and earned media lead to increased exposure and a growing reputation for your brand. This piques your target audience’s attention and allows you to quickly gain their trust. In turn, you can forge a mutually beneficial relationship, where customers continue to support your business as long as you continue providing value.

Of course, generating such publicity is no easy feat. And neither is maintaining or improving your brand’s reputation once you’ve become well-known in your industry. For growing businesses with smaller teams and tighter budgets, creating a dedicated internal PR department is likely out of the question.

While it’s not impossible to adopt a do-it-yourself approach to public relations, it’s fairly easy for such initiatives to go off the rails. With so much else going on, the added responsibility of creating consistent public relations initiatives can spread your team too thin.

Your third option is hiring an established PR firm to help manage your brand’s growing reputation. In hiring an outside firm, a team of experienced and dedicated people will help you navigate all things related to public relations and public image.

Finding the PR firm that’s right for your business isn’t a decision that should be taken lightly. Before you commit to a specific firm, you need to answer the following questions.

What are you hoping to accomplish for your brand?

Above all else, you should have a solid reason for focusing on PR. Whether you’re aiming to generate brand awareness, improve your reputation, or spur sales (or all three), it’s important to set SMART goals for your PR initiatives right from the start. This will help you focus on finding the firm whose services most align with your specific needs.

You should also tie PR-related KPIs to your overarching business goals. While a general assumption is that good publicity will lead to business growth, it’s vital to know this growth will be achieved. By defining your PR- and business-related goals in specific and measurable terms, you’ll better assess which PR firm is best for business.

Do you have the capacity to work with a PR firm?

Even the smallest PR firms typically charge clients anywhere from $250-300 an hour. Depending on your business’s financial situation, this additional cost may eat into too big a portion of your overall marketing budget.

It’s worth noting that it generally takes more than a single month to gain traction from your PR initiatives. You’ll typically need to commit to a long-term contract—accruing additional expenses along the way.

The other area of concern in terms of capacity is your organization’s ability to effectively collaborate with your PR firm. While the firm will take on most of your PR-related duties, they’ll still rely on your team to deliver pertinent data and information, develop and improve content, and maintain overall alignment between both parties.

Ask yourself two questions here:

  • Does my business have the capital to retain the PR firm that will allow us to reach our business goals?
  • Do we have the manpower and resources to empower the PR firm to perform to their highest potential?

If you’re not yet prepared to work with the PR firm that’s best for your business, take the DIY approach or wait until you can build up your resources.

Is your organization ready for additional publicity?

Every business owner dreams of getting picked up by the right influencer or publication. In these dreams, the success that follows is basically effortless. After your brand goes viral, you just have to put your business on cruise control and ride out the wave, right? Nope.

If the value you provide your customers doesn’t match (or exceed) the bar set by your PR initiatives, it can do more harm than good to your brand’s overall reputation. Secondly, you need to be prepared for the potential influx of business once your PR initiatives are live. Failure to keep up with increased demand will likewise damage your reputation.

Finally, you need a game plan for “what’s next” once PR initiatives are in full swing. This goes for all areas of your operation, from providing additional value to your customers to expanding your PR- and marketing-related initiatives.

The purpose of asking these questions is to understand what needs to be done to maximize the value you get from the PR firm’s efforts.

 

Multi Channel Marketing E-book

How does the firm measure and define success?

You don’t want a firm that either a) promises to nail your sought-after results no matter what, or b) promises to nail what they consider to be successful results.

Rather, choose a firm that:

  • Takes your marketing and business goals into consideration above all else
  • While considering your goals, uses their experience and expertise to formulate a plan

It’s not just that your PR firm’s goals should match your own. It’s that your firm should understand your current and future goals and get laser-focused on helping you reach them.

How do the firm’s services align with your needs?

Though broadly-defined, you need to know what you’ll receive in return for those costly retainer fees. The last thing you want to hear from the PR firm is “we can offer those services, but it’ll cost you extra.”

Consider how the firm will meet your organization’s more “intangible” needs as well:

  • Will you have a steady contact person throughout your relationship with the firm? Or will your account be moved from agent to agent?
  • Does the firm provide various options and opportunities for you to engage with their team? Or are communication and collaboration more rigidly set?
  • Do you have the option of amending your agreement with the firm over time? Or are their contract terms too rigid to account for your fluctuating future needs?

Your PR firm should allow for scalability in terms of the services it provides. Often, firms will offer tiered services for businesses at various growth stages—ideal for companies looking for a firm to work with over a sustained period of time.

What experience does the firm have with brands in your niche?

Your PR firm should also be able to demonstrate knowledge of your niche. Look for companies that specialize in helping brands in your industry. Dig into any content they offer that can give you a better idea of their relevant experience.

Look into any social proof revolving around potential PR firms. From additional on-site content (such as case studies and client reviews) to third-party mentions of the firm (via social media, forums, etc.), you should be able to get an idea of how they’ve treated your peers.

While any PR firm worth its salt should be able to assimilate into any niche, it’s best to find one that has extensive experience in your industry.

What does the firm’s process look like?

Your chosen PR firm should be just as focused on their processes as they are on obtaining results. Moreover, the firm should be transparent and comprehensive when:

  • Explaining what the team will be doing and why it will be beneficial for your business
  • Communicating what the firm will need from your team in order to succeed
  • Providing a timeline for rollout of future initiatives and setting expectations regarding the results

It’s vital for your team and your PR firm to stay on the same page at all times. In turn, you’ll both be able to quickly capitalize on any opportunity that comes your way—ultimately leading to major growth for your business.

The post 7 Questions to Ask When Hiring a PR Firm appeared first on Post Funnel.

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NEWS // New Representation: Tea & Water Pictures

Source: http://focus52.blogspot.com/2018/06/news-new-representation-tea-water.html

I’m pleased to announce that I am now represented by Tea & Water Pictures in New York, London and Beijing. They are an exciting agency that have a some great production experience and a team with really diverse but complimentary backgrounds, so I’m excited to see what we can achieve together over the next few years!

They’ve also done a little interview with me which, if you’re interested, you can read here 

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