Upselling: Your Ticket to 67% MORE Revenue | Selling Made Simple

Sales manager pushing you for more cold outreach to hit your quota? Not so fast. If you really want to start killing it, you need to shift away from new clients. And towards the ones you have now with upselling. In fact, done right, upselling your current customers can on average increase your sales revenue by 67%! That’s the difference between Pirus and Porsche at the end of the year when you take home your commission bonus. unanswered emails. And eventually, eventually, all that effort could lead to a new buyer or two. Emphasis on the “could” here. Even still, you’ve got to wade through a lot of crap to get there. But filling your pipeline with new buyers isn’t the only way to do business. In fact, focusing on maximizing value with your existing clients can make your life a hell of a lot easier. And today, we’re talking about using upselling to do just that. Sound good? Then let’s do it. Why Upsell? Why should upsell in the first place? You’ve already clinched the deal. So what’s the point of pushing things even further? Well, there are four benefits in particular here… 1. It’s Easier It’s easier than focusing on new buyers. With new buyers, you’ve got to go through the pains of establishing trust. But with existing ones (or those who have already committed to the sale), that trust is already there. Here’s a stat to prove my point. According to Marketing Metrics, you have just a 5 to 20% probability of successfully selling to a new prospect in most industries. 5 to 20%. If you’re selling to an existing customer though, that probability jumps to 60 to 70%. That’s an enormous increase! So if you want to make your job selling easier, go with the existing customers. Next… 2. It Drives More Revenue It drives more revenue. Customers spend more with the brands they’ve bought from before. To put a number on it, repeat customers spend 67% more on purchases than new customers. That’s two-thirds more! Just think what a 67% increase in earned revenue would mean for your commissions. 3. It Instills Greater Loyalty Upselling also instills greater loyalty. When you’ve already proven you can deliver real value, your past customers are 10X more likely to continue buying from you. After all, why go through all the hassle of finding a new vendor when you’ve already shown you’ve got the right stuff? Now, there are clearly some very real benefits to upselling. But how do you do it? That’s where… The Proven Product Upselling Framework The Proven Product Upselling Framework comes in. This framework is exactly what I teach in the Selling Made Simple Academy. And it’s made up of four steps. I go into these steps in great detail inside the academy. But for today’s video, let’s go through a quick overview of each step so you can start upselling right away. 1. Document Results Step one, gather the numbers. If you want to show a current customer that a new product has value, you’ve got to have the numbers to back it up. When it comes to new vs. current accounts, it’s all about how you treat the status quo. For instance, with new accounts, you want to attack the status quo. Productivity could be better. Efficiency could be better. Bottom-line earnings could be better. But with current accounts, you’re actually attacking and defending the status quo. You’re defending it because you don’t want clients to head to your competitor. And you’re attacking it so you can convince them to upgrade to your premium product. There are a couple of ways you can do both at once. But the best I’ve found is by sending them a value-rich quarterly report. Now, you can check out an example of this quarterly report in the blog post found in the description of this video. But in this report, you should include the following: 1. Your Earned Results Your earned results. 2.