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What is Upselling & 5 Steps to Upsell Any Product or Service Successfully

Upselling can be a great way to take your company from growth to hyper growth. So in today's video, I'm gonna be sharing with you exactly what is upselling as well as some tips and tricks that I've used in the past to upsell previous customers. 📥 DOWNLOAD my 9 powerful sales questions along with my other free sales tips and trips → https://www.growwithwill.com/sales-ju... 🔔 Remember to SUBSCRIBE to get new videos every week: https://www.growwithwill.com/subscribe ☕️ Did I help you out? Buy me a coffee: https://ko-fi.com/growwithwill 0:00 - Introduction to What is Upselling & 5 Steps to Upsell Any Product or Service Successfully 0:13 - What is upselling? Upselling is the process of taking an existing customer base and essentially selling them on other services or products in order to increase their overall spend. By doing this, you are naturally upselling them in which you are selling them upwards of what they originally purchased from you. 1:12 - Step 1: It's important to know this In other words, you shouldn't just send a campaign to every single one of your past customers asking for an upsell. The reason is simple. If a customer hasn't used your product in the last six months or so there is no reason for why they would have any interest in buying more services or products from you. The reason is simple. If a customer hasn't used your product in the last six months or so there is no reason for why they would have any interest in buying more services or products from you. And so the first thing you wanna do is create a hit list in terms of potential customers to upsell. 3:10 - Step #2: Make sure you have this in place When it comes to positioning, what I recommend when it comes to upselling is to think about ways that you can package new value to your existing customers. By focusing on benefits, as opposed to features, you will start to craft a narrative with your existing customer, and they can start to think about the different ways that this particular upsell is going to, or not going to meet their needs. 4:43 - Step #3: Make sure that you are proving this to your customer Whenever I'm doing some sort of upsell campaign, I make sure that there's both written as well as live communication opportunities to upsell a customer. So if, for example, I've isolated, my list of potential existing customers to upsell, what I might do is I might invite them to a live workshop where I'll teach them about different ways that they can improve their adoption of my respective tool. 6:29 - Step #4: Don't leave your customer without this And so what I'll also do from here is I will have a series of follow up emails that I'll send to both the attendees, as well as the no-shows to this live work. By doing this, I give them multiple ways to interact with me, where maybe I have somebody that's more active and more of an extrovert that wants to actually talk to me live in the live session whereas I have other customers who are more introverted and they don't wanna be put on the spot in these live workshops. 7:34: Step #5: Make sure your offer is interesting and unique Your offer needs to be something where it is too good to pass up. The way I've done this in the past is I have capped the number of customers that can get a unique timebound discount. Same thing goes when it comes to, if you're selling more traditional services in which what you wanna do is make sure that you always have some sort of timebound component or scarcity element in order to make sure that you are getting your customers to really prioritize this offer. 9:19 - My recommendations When it comes to upselling, what I recommend you do is that you also build up an operational cadence for when you're going to upsell your customers. It's really useful. In terms of other things in operational cadence, I recommend you at least upsell your customers two times a year. ✍️ COMMENT BELOW: How do you upsell your product or service to your customer? What techniques will you use to convince them to buy more? Grow with Will is all about helping you grow your business, get more customers, and hone your business acumen. I teach you the real-world business skills you didn't learn in school to help take you from zero to self-starter. 🔔 If you find this helpful, SUBSCRIBE for new videos every week: https://www.growwithwill.com/subscribe 📸 My YouTube Gear: https://kit.co/GrowthWithWill/my-yout... Disclosure: Some links and products are affiliate links, meaning Grow with Will will earn a commission if you make a purchase through our links, at no cost to you. Disclaimer: Grow with Will does not provide tax, legal, or accounting advice. This video, and the ideas presented in it, are for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice.