So let me just set the scene…
I was about to depart from Birmingham New Street station in the UK where I was working on a new project called The Intelligent Coach with some business partners to head home back to my hometown Ipswich, however when I got to the station I found out my train was cancelled! (oh no…)
Now I could have sat there in self pity, or I could have booked some appointments to catch up with clients while I chilled with a pint of San Miguel and a very beefy burrito until my next train arrived. Easy choice right? LOL 😉
So I stopped off at this restaurant called Mi Casa Burritos, a fairly well known travel food company…and since we’d had such a productive weekend I decided to treat myself.
I went to place my order, and ordered a pretty amazing looking beef burrito with salad along with all the other cool stuff with it including the ‘extras’ such as guacamole, salsa, tortilla chips and of course the legendary beer!
With each extra item, a little extra price was added to my bill and before I know it, when I went to pay my bill was about £14 ($20!) which was a little more than expected. It’s like they legally robbed me right?
I was cool with it though, as I have learnt that if you want to become good at selling then you have to become good at BUYING. Most people hold onto every last penny they have like they will never earn another one and wonder why they suck at selling. (Hint…95% of what’s blocking your success selling is in your mind)
The other thing to understand is the dude at the till understood the power of UPSELLING. Instead of trying to sell one massive expensive product, the key is to bring customers in the door with a low cost product.
Once you bring in customers who pay a small amount and you give them at least 10x the value of what they paid, then you can offer similar products they may be interested in at a higher price. Your best customers are your existing customers.
This concept is explained super well in a book called DotComSecrets (you can order a free copy here and only pay s&h) by a well known coach called Russell Brunson who shows millionaires how to create powerful, leveraged sales funnels that suck in leads like a hoover and spit out commissions. I highly recommend this book for all online marketers as it shows you all different kinds of funnels and how to set them up.
So what’s a good example of an upsell and how does this connect to a successful sales funnel? I’ll share the basics behind this with you now.
- Offer a low cost product between $10-$50 that is super high value. The goal of offering this low cost product is to cover your advertising and marketing costs. This could be your lead magnet (see the DotComSecrets page as an example) or you could offer another lead magnet to start building an email list. An example of this is an eBook you write, a video you put together or another piece of online content that you massively over deliver on.
- Once that’s purchased by your customer, you can set up what is known as an OTO (One Time Offer) sales page which sells a product at a higher price, between $100-250. This could be your core product or you could create online content to then re-package and sell at this price.
- In fact you can do this for 1. too – it’s really easy to create a product online without doing shipping and handling if you don’t want to, when you are selling information and mentoring. Trillions are already spend on info products…why not grab a piece of the pie?
- If your customer buys that also, then you can consider selling an even higher priced product between $500-1000. Just increase the amount of value and content if you are increasing the price. Again these can be info related products, or you may decide to do mastermind events/retreats that are more exclusive but it means that the customer gets to spend a whole weekend (or as long as you decide) with you.
Retreats with some of the world’s top Internet Marketers can range from $2-10K even just for 2 days in some cases but how many would you need to sell to make your desired income and more? Just something to think about.
So how do you decide on what to charge for your own products?
A great place to start is consider how much effort, blood, sweat, tears, time and money you have already put into learning your craft. Even if you haven’t had massive results yet, take yourself out of the equation a little bit and put a high amount of value on the information you have gained, but just be sure it’s out there in your own words.
Creating a product is actually really easy…the technicalities behind this are to create the content, create a sales page for it (see my products page for an example) and then via PayPal you can create a Buy Now button for free, within minutes.
All you do from there is create another page that has the offer the person pays for, and then set it up via PayPal so that when someone buys the product they are redirected to the page with what they paid for. Actually really simple but most people never get around to doing this, so they leave money on the table…whattapiddy.
Want to learn more about creating a funnel that attracts the RIGHT leads, gets them to take action and influences them to buy without wasting a tonne of money on advertising? Tired of pee’ing away time figuring out what’s not making your websites or funnels convert?
Book onto a 15-20 minute free strategy (clarity) 1 on 1 phone call via this link and we’ll be happy to suggest a few ideas and concepts to apply to your business to allow you to go and immediately crush it in any business or niche. Click here to book your call – limited availability and high in demand so do it soon!
Get some value from this? Be sure to comment and share on social media with your marketing pals, would hugely appreciate it 🙂
