May I Interest You in Dessert?
You’ve just launched your product’s first Affiliate Marketing program. Congratulations! You understand the benefits of Affiliate Marketing and envision the lucrative future that the online media space is known to provide. In addition to customer acquisition, affiliate marketing provides numerous opportunities for additional revenue to be generated. Let’s look beyond the basics of customer acquisition and integrate one of the best known strategies that will significantly increase your return on investment: Upsells.
Providing a customer with the option to include additional products or services to their purchase is known as upselling. Upsells provide one of the easiest and most effective ways to monetize any campaign. Your affiliate marketing program has already obtained a customer that is interested in purchasing your product. The customer is ‘in the moment,’ ready and willing to make a purchase. You’re familiar with your own product and have a thorough understanding of your target audience. Use that information along with the customer’s mindset to pair the customer with a product that will compliment what they have already decided to purchase.
Take into consideration the upsells you come across on a daily basis. Would you like to add any offshore excursions to your vacation package? Would you be interested in upgrading to unlimited text messaging? May I interest you in dessert? Upsells must be relevant to the initial purchase, while appealing to the customer at the same time. Be sure you are familiar with exactly who is purchasing your product. The most successful upsells take into account the interests of the customer base, while enticing the customer into last minute spontaneous buys. Understanding your user demographic will help in your decision to choose other offers that will compliment your own product, and increase the overall conversion rates for your upsells.
Consider all options that are available when it comes to upsells. Let’s say your product is a Weight Loss Supplement. Simply adding the option to include a second identical item at a discounted rate is an easy way to bring more revenue to the initial sale. Consider using third party Affiliate Programs that compliment your product, such as beauty products or magazines, thus receiving a commission for each item sold. This is one of easiest and most effective ways to increase your overall revenue per transaction. Do not feel restricted to physical products. Newsletters and various opt-in are an easy way to incorporate additional earning opportunities into the checkout process, while providing unique options for the customer.
In addition to the different types of upsells, be sure to utilize the various placements available to you. Upsells are not limited to just your shopping cart. Try placement on your thank-you page as well. Now that the customer has already been acquired, this is an excellent place to provide them with additional products of interest. Be sure to experiment with the various types and placements, however be careful not to over-do it. The goal here is not to overwhelm, but to capitalize on the impulse buy.
Most importantly, any and all upsells must be fully compliant. Be sure that the terms and conditions of any upsells requiring the use of the user’s credit card are clearly stated, including additional charges that may occur due to a continuity program. The customer should also choose to participate in the program by opting into the upsell rather than opting out if not intersested. Any surprises following the purchase from your site can negatively impact the customer’s overall experience. Keep in mind, customer satisfaction is a key contributer to the success of your company’s branding.
Upsells capture the customer at an ideal time – they are already in the state of mind that they are making a commitment to purchase. While increasing your revenue through the use of upsells, you are also showing your customer that you’re taking time to understand their interests while providing them with a personalized shopping experience.
