you’ve worked your butt off creating your first product.upsell+rep… · fast forward to today,...
TRANSCRIPT
You’ve worked your butt off creating your first product.
It’s your best work ever.
You have sunk countless hours developing, writing, brainstorming, producing,
packaging, and breathing life into this thing. You are sure your customers will
love it, and all that is left is for you to rake in your millions…
But wait…what happens after your customer buys and consumes that one
product? Is that it? Is that the bitter end of their relationship with your
company?
Kind of a buzzkill, isn’t it?
And doesn’t that mean it is back to
square one for you as well? If you
have just the one product, your
entire business depends on bringing
in fresh customers every single day,
right?!
That’s a lot of pressure! It’s tough
finding new customers! You’re
telling me that I have to do that
every single day?!
What if I have a bad sales week? What happens after I reach my entire
market? What if a big affiliate stops promoting? What if my advertising budget
runs out?
Each of these questions should be leading you to a simple conclusion…
Businesses that sell a single product cannot survive. And that’s where I come
in...
My name is Brian Moran, and I sell stuff online.
I’m not an “expert” or a “guru” or anything like that. I really hate those terms.
All that matters is results. And to speak plainly, I have gotten real-world
results.
I own and operate several brands online, and I’ve consulted with countless
others. And doing some rough math, in the past 4 years I have attracted about
300,000 email subscribers, converted around 40,000 paying customers, and
generated somewhere just north of $10 million in sales online.
My team has gone from just me, sitting in my underwear in a basement
apartment, to 14 full-time employees in our Baltimore office. I know what
you’re thinking, and the answer is: yes, I do wear pants in the office.
Now please understand, I’m not bragging. I’m not to impress you with these
numbers, and the truth is that these numbers are not really that crazy. I know
plenty of guys with more revenue and bigger teams.
What I want to get across is that I have real world experience with attracting
an interested audience, turning them into paying customers, and growing
real, sustainable businesses.
So please listen to me when I say…
Businesses that sell a single product cannot survive.
When you only sell one product, you become a “one and done” business.
Your audience either buys your product, or they don’t. Relationship over.
Your customers consume your product, and they’re done. Relationship over.
That’s no way to run a business. You are putting a ceiling on your own growth!
Unless your product is something that your customers need to buy over and
over again to survive, like toilet paper or food, your one product is actually
hampering your growth.
Here’s an important statistic that we religiously track in our brands: Lifetime
Customer Value (LCV). LCV is the amount of money your customer spends
with you over their lifetime, and there is no single more important number in
your entire business.
You may only spend $100 each time you go to the grocery store, but think of
how much money you’ve spent on groceries in the past 12 months.
What about the last 5 years? What about over the course of your whole life?
You are not a $100 customer to your grocery store. Your LCV to your local
grocery store is in the tens of thousands! That’s why big chains give you
rewards for consistently choosing their store for your shopping needs. They
know that you are worth a small fortune to them, if they can keep you coming
back through their doors.
Lifetime Customer Value is critical to any business. Sustainable businesses
find ways to continually have their existing customers spend more money
with them.
If you are selling one product for $100, then your average LCV is $100. End of
story. Your customers have nothing else to possibly purchase from you.
But if you offer even just one additional product, your average LCV instantly
jumps up! Even if only a small group of your current customers choose to buy
your additional product, your average LCV goes up, and you make more
money.
Simple as that.
So let’s look at how this plays out in the real world.
Let’s say you and I own competing companies. We both sell baseball bats for
$100. We both market to the exact same group of people, and each of us pulls
in 100 customers.
You’ve made $10,000 in revenue, and so have I.
But, I don’t stop at just selling baseball bats. I go to my 100 customers, and tell
them that I also sell buckets of baseballs for $50. After all, if you are buying a
bat, you could probably use some baseballs to hit, right?
A relatively small number of my customers, just 20 of my 100, decide they
would also like to buy a bucket of baseballs. I have just made an additional
$1,000 in revenue.
This is what “upselling” is all about. Me offering my customers a bucket of
baseballs is an “upsell”. I am simply presenting my current customers with
opportunities to purchase more products.
Maybe you are already using upsells in some way, maybe you’ve never heard
the term in your life. Don’t worry, this report is centered around making sure
that regardless of where you are now, that you can put upsells into action in
your business more effectively.
Ok, so back to our example. I now have 10% more money in my bank account
than you do, what happens next?
I now have more funds at my disposal to run more advertising and find more
customers, or buy more inventory, or hire more staff, or develop more
products to sell, etc. I have just given myself a competitive advantage in the
market, and you can’t match it with your one product business.
I can even afford drop my prices on my baseball bats, and start stealing your
customers away! Because I have a way of generating more revenue than you
do, I can do things in the marketplace that you simply cannot.
In the long run, I will only continue to add more additional products, raising
the LCV of my customers, and putting more money into my bank account. And
your brand is still trying to find more new baseball players to sell bats to.
You can easily see how, with a pretty short amount of time passing, you could
be out of business and I could be taking over the entire market.
I’ve seen this happen first hand.
One of my bigger brands, Get 10,000 Fans, is centered around teaching people
how to reach their target audience using Facebook’s huge network of users. I
was basically forced into that business back in late 2010 when a mentor of
mine saw how I was using Facebook to get some crazy results for my baseball
coaching brand, Train Baseball.
Fast forward to today, and Get 10,000 Fans is still thriving and growing. Over
the past few years, there have been dozens and dozens (and dozens) of other
competing brands that have come and gone.
Some of these brands honestly had better products than I did, some had more
staff than I did, others were posting more status updates than I did, almost all
of them blogged more than I did.
But at the end of the day, my business has been around for 4 years (and is still
growing) and almost everyone else has closed their doors and moved on to
other projects.
Why is that?
It is because no one can match my CLV. Other brands had one (maybe two)
products to sell that covered the idea of “Facebook Marketing”. My brand has
a “product suite” over 23 unique products and services that all meet specific
needs my customers could have.
Now all of those products/services fall under the umbrella of “Facebook
Marketing”. However, I took the bigger topic of “Facebook Marketing”, and
turned it into 23 specific offers my customers could buy.
So whether you are interested in free traffic, Facebook Ads, creating your own
Fan Page, using Boosted Posts, writing great status updates, converting fans
into customers, or anything in between, I have a product for you.
My customers know that whatever their need is related to Facebook
Marketing, they don’t need to leave my site to find what they’re looking for.
My team and I are prolific at making new products. So when someone
discovers our brand, we have more than one shot to grab their attention and
turn them into a paying customer. And when we do capture a customer, we
have 22 other products they could be interested in buying as well.
That leads to our CLV being the best in our market. And that additional
revenue allows us to spend more than the competition in advertising, sell
cheaper products, and eventually grab more paying customers.
To put it in plain english, we leave our competition in the dust.
And it isn’t because we are smarter, better equipped, or more attractive
(though those may be true, not sure). It is because we work hard and are
prolific at creating additional products/services for our customers to
purchase.
That’s why one product businesses do not succeed.
Do not be a “one and done” business. Be a business that your customers can
grow with! Be a business that continues to meet the needs of your audience,
regardless of what stage they are currently in.
Apple started out by selling computers. Can you imagine what they would
look like as a business if they had stopped there?
Apple boldly branched out and created the iPod and the iTunes marketplace.
Then came the iPhone. Then the iPad. Now the Apple Watch. It’s no
coincidence that they are now one of the largest brands on the planet.
Apple provided a path for its users to grow into their brand. A clear way to
continue integrating Apple products into your life, and it created a crazy,
passionate fan base that is ready to buy whatever Apple comes out with next.
Love them or hate them, Apple is huge because they allow their customers to
spend more money with them. They don’t need to constantly convert more PC
users to Mac users, they are consistently giving their current groupies
opportunities to spend more money with Apple.
McDonald’s is sort of like the Godfather of upsells, in a way. You hear their
famous six word phrase that took them from a small, regional chain to the
global leader in fast food sales all the time, “Would you like fries with that?”
McDonald’s understood that their customers often enjoyed fries and a drink
with their cheeseburger. In an effort to sell more of the highly profitable “fries
and a soda”, McDonald’s register workers were trained to ask every single
customer if they would like to add the extra $1.00 or so to their order for fries
and a drink.
Their revenue blew up, and so did their profits. Simply by asking each
customer if they would like to spend more money, McDonald’s found a way to
increase the value of each and every customer that came through the door,
and the rest is history.
The last example I will share is U-Haul. If you don’t know already, U-Haul is a
moving rental service where you can rent trucks, vans, etc. to aid in your
moving process. And their use of upsells is genius…
I rented a U-Haul last year. I chose the truck I wanted, selected my pick-up
time, and put in my credit card info. Immediately after they charged my card
for the use of their truck, a new offer popped-up on my screen.
“Do you need any packing materials to help make your move even faster and
easier?”
Or something like that, I don’t remember the exact wording. But U-Haul
proceeded to offer me boxes, packing tape, hand trucks, bubble wrap, truck
insurance, and even movers in my local area I could rent by the hour!
Genius.
My $100 truck rental turned into a $170 order. U-Haul got me to spend 70%
more with their company simply by asking me if I had additional needs, and
filling them. The crazy part is, I was going to buy that stuff anyway! They saved
me a trip to Home Depot!
And all that extra stuff was sitting in the back of the truck when I picked it up.
Insanely great service for the customer.
U-Haul understands that their customers have additional needs, and gives
them the opportunity to spend more money with them. It’s simple, and it’s
brilliant. And it has turned them into a nationally recognized brand.
Ok, so you get it. Upsells are good, they help you make more money, and they
can be a way to gain a competitive advantage and literally take over your
market.
So, now what?
Well, it’s time to build out your next product and/or service! Whether you have
no product, one product, or several, this report is designed to help you see
how your business can start building your “product suite” and make more
money.
That’s the bottom line, right? You want to grow your business? Then take this
report to heart, and get to work.
The good news is…building your next product is 10x easier than your first
product. Chances are you can “repurpose” some of your existing content to
create multiple products to offer to your customers.
Our Get 10,000 Fans brand sells a little $10 report called “How To Double Your
List From Facebook”.
This report talks about how to grow your email subscriber list by using
Facebook Fan Pages. So what could I possible use as an upsell? Here’s what we
came up with, and we think it works pretty well…
When a new customer buys our $10 report, they are immediately presented
with an offer to buy the video version of the report.
Making this video version of the report is super simple. The report lays out the
script of what we should cover in the video version. Then, we just make videos
of us actually doing what we talk about in the report, go more in depth on the
topic, and turn a 10-page text report into a few training videos.
A couple hours of recording later, we have a whole separate product.
And our thinking behind this particular upsell is pretty simple…
If our customers just paid us $10 to learn how to build their email list using
Facebook, they might be interested in the video version that shows them
exactly how to do it step-by-step. The videos are essentially for anyone who
wants a more “hands on” approach to this same topic.
We charge $97 for the video version and our latest stats show that 27.53% of
our $10 customers choose to add it to their order during checkout.
And our upsells don’t stop there. We kept thinking, “What else would these
customers be interested in?”
Next, we offer report customers a bundle of 6 “Done-For-You” Facebook
landing page templates for $197. 10.95% of our customers add this product to
their order during checkout.
Lastly, we know a sizable percentage of our customers will want to generate
traffic their new Facebook landing pages. So the final upsell we offer is a paid
traffic training course called “Facebook Ads Academy”.
We offer that course at a huge discount and offer it to our new customers for
$397. 6.37% of our customers add this product to their order.
Throughout this entire process, all we are doing is asking ourselves, “What
else could these customers be interested in?”
Video walkthroughs of how we build Facebook landing pages? Yes.
Done-for-you templates so everything is already finished for them? Yes.
Using Facebook Ads to attract your target market? Yes, please.
A quick look at those numbers should be enough to get your creative juices
going. Let’s assume I attracted 100 customer to that $10 report…
Without any upsells, I would close 100 customers and collect $1,000 in total
revenue.
Not bad, right? Of course not. $1,000 is good money.
But with those upsells in place, those same 100 customers bring in a
whopping $8,356.45 in total revenue. For those of you keeping score at home,
thats a 836% increase in total sales. Not too shabby.
How much money are you leaving on the table by not having upsells?
Because of the upsell funnel we use, the average order size of that $10.00
report is $83.56.
Thats like when you go into the mall for one thing and walk out with 3 bags of
stuff. Same premise.
Now, remember the majority of customers never even take an upsell, they
simply buy the $10 report and move on. But those who know they have
additional needs jump at the opportunity to have more of the work done for
them, and the additional products we offer are exactly what they are looking
for.
After your customers purchase from you, they are going to look for additional
products/services to further meet their needs. It’s a fact. Start thinking of how
you could meet those needs in the form of additional products and services to
upsell to your customers.
If someone purchases golf clubs, they need a golf bag, golf balls, golf shoes,
etc.
If someone buys hiking boots, they are often on the lookout for thick socks,
tents, backpacks, etc.
If someone purchases a 6-week diet plan, they are likely looking for “done-
for-you” grocery lists, workout supplements, running shoes, etc.
The more needs you can meet for your market, the less your customers will
go looking elsewhere to meet those needs. And the more offers you have for
your customers, the more revenue you can make.
Simple as that.
1You currently have one product (or maybe none), and desperately need
solid ideas on what else you could possibly make and sell as an upsell.
2You have several products already, and are looking for ways to improve
how your upsells are currently performing.
Ok, let’s get to it. You’re here because…
In either case, we’re here to help.
Below are the 7 most effective upsells I’ve ever used (or seen others use) in
the real world. The biggest benefit here is that none of these ideas really
require a ton of time or effort to put in place.
I don’t want you to have to spend another 30 days locked away in a closet
somewhere, slaving away in order to make a new product/service to sell.
I want you to be able to put together a high-converting upsell with resources
you may already have in place. This is about working smarter, not harder.
Read over these ideas, and then use the space at the end of this report to
brainstorm your next few upsells you could offer. This is not a “read it and
throw it away” report. This is a “it’s time for you to take action and get stuff
done” report.
Alright, here we go. Here are the 7 best upsell ideas that you can implement in
just a matter of minutes...
A direct line of communication to you (email, phone, or even text)
Phone support
“Priority” support so their emails are always answered first by your
staff
Access to live chat on your website
And a whole bunch more…
People will pay you a premium if they are able to jump to the front of the line
if they need assistance. Everyone is afraid of buying something, not knowing
how to do everything themselves, and then being stuck with no one to help.
Offering some sort of “Premium Support” really helps your customers feel
protected in their purchase. Think of this like buying an extended warranty on
a car or a piece of furniture. Your customer may never need to take you up on
Premium Support, but it will certainly help them feel better about their
purchase.
Premium Support could also be delivered in a lot of different ways. “Premium”
could mean…
The point is, you get to decide what “Premium Support” means to you and
your business. Think about your staff, what you have to offer, and what you
could handle, then sculpt your “Premium Support” offer to match whatever
you can handle right now.
Creating an offer like this is as simple as making a 30 second video and
presenting it to your customers as soon as they purchase.
This is perhaps the one upsell idea that could take you the least amount to
put together.
If you sell a digital ebook, like this text report you’re reading now, upsell your
customers the audio and/or video formats as well. Your product is done, so
publish it into a different format, and offer it as an upsell for those who may
want to watch videos, listen in the car, put it on their laptop, etc.
On the other side, if you sell video training, offer downloadable transcripts
and audio recordings. These could be put together in just minutes!
Take your videos, send them to someone on Fiverr.com to transcribe, detach
the audio from the video recordings and package them up for sale!
If you own a yoga studio and sell in-studio classes, record a few classes and
sell the recordings to your students so they can practice when they are away
from home.
If you run a coaching business or offer live events, record your sessions and
sell the recordings to people who could not attend or cannot afford the full
price of admission.
The possibilities here are endless. And they are so wonderfully easy to put
together.
Here’s a cool real-world example. A buddy of mine is a coach for gym owners.
He charges about $15,000 year for his coaching services. He meets with the
group he coaches on the phone once per month, and in person 3x per year.
Not everyone can afford $15,000 on coaching, but you can bet that every gym
owner on the planet knows he would benefit tremendously from what is
being talked about in those meetings.
So my buddy records these calls and in-person meetings, then publishes them
online and sells the recordings. He has a few hundred gym owners pay
$100/month to get the recordings to these sessions.
Not a bad little addition to his bottom line, and it required very little extra
work on his part. He is already running the meetings, he just needs to record
them and publish the videos to his private website.
Everyone loves a good discount.
When people buy things, they get into a sort of feeding frenzy. They are
mentally prepared to keep buying, as long as the deal is right.
And studies have shown that the physical response humans exhibit when they
find a “great deal” is similar to the kind of endorphin rush of associated with
being kissed, finishing marathons, etc.
There is pride in feeling like you have taken someone up on a killer discount.
So lean into this and take just about anything, make it available at a big
discount, and place it in there as an upsell.
In our online member’s area, we have places where our current customers
can find “Member Only Discount” to most of our other products. This is a form
of upselling.
And it isn’t “smoke and mirrors”, we really do give big-time discounts. By
simply offering our customers the opportunity to purchase stuff at a discount,
we make more sales. I’m totally fine with accepting less money for a product if
it means that more people will buy it.
Offer your stuff at the biggest discounts you can afford to make, and enjoy
having your current customers spend more money.
Bundle it up!
When you see “BOGO”, what do you think of? BOGO means “Buy One, Get
One”, and it is one of the most popular strategies from big-time businesses to
“Mom & Pop” stores.
A BOGO offer is a bundle offer. It is bundling multiple products into a single
offer, and it is a great way to sell more products.
I can’t even tell you how many times I’ve gone to the grocery store and ended
up buying twice as many boxes of cereal than I needed because Frosted
Flakes are “Buy one, Get one free”. The grocery store may be taking a bit of a
revenue hit, but there are still making more money and selling more product.
That’s what a bundle offer is all about.
My Get 10,000 Fans brand has a monthly subscription service called “Facebook
Marketer”. Each month, we put out 2 newsletters for these subscribers full of
great content and our latest tips & tricks in Facebook Marketing.
These newsletters are awesome, and we know that people who aren’t
Facebook Marketer subscribers would love them as well. So we take 5 or so of
these newsletters, bundle them up, and place them as upsells for various
products.
So someone buys a product, and the upsell for these “Insider Reports” as a
“Buy One, get 4 Free”. It’s a no-brainer. Plenty of people cannot pay
$97/month for a Facebook Marketer subscription. But plenty of people can
pay one payment of $47 or so for 5 of the reports we produce anyway.
So we are taking things we already take the time to create, bundle them up,
and sell them at a big discount. People love a good deal, and they love feeling
like they received multiple items under one big discount.
Speak of the devil, right? A monthly newsletter is a very easy upsell to add in
there, and truly it does not take nearly as much time as you might believe.
I’ve seen paid newsletters in every market imaginable: Wilderness Survival,
Photography, Baseball Pitching Training, Dog Training, Facebook Marketing
(imagine that!), Investing & Stock Trading, Fitness, and on and on the list goes.
The most common objection I hear when I suggest people start a monthly
newsletter is, “What am I supposed to talk about?”
Here is where you need to make sure not to discredit what you already know.
You are an expert in your market. Whatever it is that you’re doing, you are an
expert.
You likely know people who know more than you do, but that doesn’t mean
that people wouldn’t want to hear your thoughts, your opinions, your
interpretation of current events in your industry.
Writing a monthly newsletter is essentially like writing one really long email
update each month. And the benefits definitely outweigh the time it takes…
I know a guy who charges $20/month for his newsletter. A relatively low price,
right? So plenty of customers take him up on it. He writes essentially a long
email each month, updating his subscribers on what he thinks about current
events in his industry. Takes him about 30 minutes a month, someone edits it
and sends it out.
He has over 1,200 subscribers to this newsletter. That’s $24,000/month in
recurring income. As in, if he did nothing but publish his newsletter, he will
make $24,000 in revenue.
Now your first goal shouldn’t be to get 1,200 monthly subscribers, but can you
see how recurring revenue can be had pretty easily with something as simple
as a newsletter?
Great upsell. People love them, and it’s an easy way to make a great upsell.
Here’s a crazy one that I actually do a lot.
Several of my brands release new versions of the same product again and
again. Like in the Facebook Marketing world, things change a lot. So my
products need to be updated to reflect Facebook’s newest changes.
So one of the upsells I will do everyone once in a while is one I call “Lifetime
Updates”.
The upsell says, “Congrats on buying X! If you would like to receive every
version of X that is ever published again, you can purchase Lifetime Updates
to X for just one payment of $X today!”
That’s it.
Shortest upsell pitch of all time. Sells like hotcakes.
Think creatively about this stuff too, because though you might not be selling
digital products that require updates like I do, maybe your brand has a
product that comes out seasonally which you could sell priority access for.
Here’s another “real-world” examples…
I have consulted with a big ballet studio in my local area. They were looking
for ways to bring in some more revenue to the studio, and I suggested this as
an upsell..
When a student signs up for a “semester” of classes, the studio upsells
“Priority Registration” for the following semester’s classes at a big discount. So
if you sign up for Spring Semester classes for $100, you can choose to sign up
early for Summer Semester classes for $65 (or whatever price they chose).
So now, that studio knows their future classes are booked far in advance, isn’t
always scrambling around trying to fill up future classes, has cash on hand
now, and has convinced more students more customers to come back again
and again than they normally would.
This upsell literally required no extra work. Customers love it, and it is a great
way to create happy customers while having extra cash on hand.
Anytime you can charge a premium for your customers to get some kind of
interaction with either you or your staff, you’ve struck upsell gold.
Regardless of how you may view yourself, remember that your customers
view you on a pedestal. Your customers respect you and trust your opinion,
that’s why they have chosen to spend money with you.
Leverage that, and if you have the resources to do, upsell your customers into
some kind of one-on-one coaching session, a consultation, etc. Anything that
involves you directly interacting with the customer is clearly a substantial
value.
Also, tacked into this one is anything that is “Done-For-You”. What I mean by
that is, if there is any part of the work your customers might have to do after
purchasing your product/service, find a way to charge a premium to do it for
them.
An example of this would be like something we did in our baseball training
brand. We sold a $97 video training course that would teach young baseball
players to hit with more power. As an upsell, we offered them a customized,
“done-for-you” pre-game routine they would use before their games in order
to make sure they were as ready as they could be to perform on the field.
These routines didn’t take us long to put together, and the ballplayers loved
not having to think through their own routine. I built one for them that was
ready to go.
Again, any “Done-For-You” type stuff is just another way of a customer feeling
connected to you. And that is very valuable to them. Charge a pretty penny for
that kind of stuff.
Alright guys and gals, that’s what we have.
These upsell ideas are ready to go. Now, it is up to you to take some creativity,
apply it to these ideas, and see how you can work these upsell offers into your
own business.
What do you already have lying around that you could use? What could you
re-package? What could you quickly create?
Upsells are pretty awesome, and these 7 items are your ticket to quickly
placing in high-converting upsell offers that will change your bottom line
forever.
This is a cliche statement, but it is 100% true: upsells changes my life. It is my
hope that this quick report, and the strategies inside of this report will change
yours as well.
Look at your product or service, and see what you can come up with. There's a
very strong chance that you can add significantly to both the perceived and
the actual value of your offering without adding substantially to your costs.
That means you make more money AND the customer gets more real
value…and everyone wins.
Now it’s time to get to work. I told you, this is not a “read it and throw it away”
report. Use the spaces below and brainstorm ideas for your own upsells in the
space below…
If you would like to learn even more about upsells, please be sure to check out
my “5 Minute Upsells” video training course. Here’s a quick look at what is
inside that course…
Even more ideas for creating high-converting upsells
My exact scripts & presentations I use in my upsell videos to
ensure they convert
The only 3 tools I ever use to quickly & easily create my 1-click
upsell funnels
Upsell Funnel guides that reveal what prices and offers make the
best upsell funnels
To your success,
BRIAN MORANFounder, 5 Minute Marketing
To learn more about that 5 Minute Upsells course, click here.
And now, get to brainstorming! Thank you so much for reading this report. I
really does mean so much to me that you would stick with me and listen to
what I have to say.
If there is anything I can do, please let me know.