Starting a side hustle to earn an extra income. Selling online can be a challenge and this is something that many business owners must wrestle with on a regular basis. If you can convince people to buy from you online, then you can potentially drive a steady stream of sales that will be nearly entirely automated.
This allows you to earn a passive income and make money while you sleep and relax, or it can give you the funds you need to funnel back into your business and scale at an unprecedented rate.
But this shouldn’t be the end goal! Selling once is impressive, but selling twice – or selling more – is even better.
What you may not realize, is that getting someone to buy from you is the “hard part.” The biggest barrier is opening the wallet and entering the details. If you get your visitor to that point, then you’ve been highly successful.
But then why stop there? It will now be considerably easier to convince your audience to take the next step and buy again… so make sure you don’t miss that opportunity!
Here’s how you can do just that by offering upgrades and upsells!
1: Premium Edition
One option is to offer a premium edition or a special edition. People love buying the most high quality version of something and they hate knowing that there is a more premium option available.
Think about it: if you just convinced someone to buy a product for $50, why wouldn’t they pay an extra $10 to then upgrade that to the “ultimate edition.”
This works great for physical products, but it can also be very effective with digital products. Your ebook could come with a more attractive cover, extra pages, and supplementary information for example!
2: Support
Offering support is a great way to add value, especially if your product is an app or software solution. Even for information products though, offering some kind of direct access to the author or experts can be HUGE. How about membership of an exclusive group on Facebook, for example?
3: Second Copy
If your product benefits from multiple items, then this is a great and very simple way to upsell. Buy one for $20 or two for $30… it’s a no-brainer!
Even for digital products this can work well if you have DRM: just offer the second download as a gift!
4: Subscription
Likewise, if your product is something that benefits from recurring orders or ongoing support, then you can also offer subscriptions. And if you already offer subscriptions… then how about selling a longer subscription for even more money?
5: Money off the Next Product
Finally, one of the oldest tricks in the book is to offer money off the next purchase. This is great because it secures the next sale before you even have something to offer, it helps to build loyalty and trust with your audience, and gives the buyer flexibility in how they redeem their offer. It’s like a loyalty points system!
