The probability of selling to an existing customer is more than 3 times greater than selling to a new customer, according to Marketing Metrics.
Using marketing automation tools makes it simple to put the necessary processes in place to drive upsells with your existing customers to increase revenue for your company. By using the following marketing automation tips you can increase your upsell revenue significantly.
Here we outline three effective ways to drive product upsells using marketing automation:
Use Lead Nurture to Sell Additional Products/Upgrades
Gain revenue from your existing client base by putting together an upsell email nurturing campaign. This is a great method for staying in touch with your customers and letting them know the latest and greatest things your company is offering. Provide them with information on your product/service offerings or opportunities for upgrades within them outside of what they have already purchased. For example, an online shoe company could put together a drip campaign on special insoles that can be used inside the shoe or promote the latest model of their shoe line.
Be sure to stray away from the sales pitches here; you want to stress the benefits and problems that will be solved by gaining or moving on to these additional offerings. For example, offer customer testimonials on what you are promoting or case studies that prove the benefits of these additional offerings. These lead nurture campaigns should be spaced out at least a week apart; hearing from you too often will likely be a negative experience for the customer.
Use Web Behavior to Indicate Interest In Product/Service or Topics
Another effective way to drive product upsells is to customize the user experience on your website. If a customer feels that the content is more relatable and geared to them they are more likely to stick around and see what is being offered.
For example, if you’re an education software company and make sure to capture “Grade Level” on your web forms, you can tailor blog posts, calls to action, and e-books to be focused on that specific grade level. This way the customer is able to access relevant resources without having to sift through all non-applicable content offerings and then leaving your site before they had a chance to read information that would be useful to them.
Another way to do this would be to set up notifications when a customer is browsing pages on your website that indicate they are interested in upgrading their services. Once you are notified, you can give this customer a call to discuss the upsell options or add them into a drip campaign.
Implement Automated Surveys
After someone has purchased your product or service, it is important to send them an automated follow-up survey. This way you can gauge how happy they are with their purchase. You can use a net promoter score system or some other similar model in order to quantify how satisfied they are. Send this out to your customers roughly every few months, don’t just send this out once and be done with it. Ignoring these survey results can be detrimental to your business.
This is a way to improve your business along with targeting highly satisfied customers with product/service upsells. For those unsatisfied customers, ensure you have a customer service team or other system in place to address whatever concerns they may be having.
Pulling It Together
Remember to keep upsell suggestions targeted based on your audience. Too many recommendations may overwhelm the customer. In order to avoid this, make sure each upsell is bringing a legitimate solution to their problems. If you are correctly implementing these 3 marketing automation tools then this should come naturally.
What marketing automation tools do you put in place to drive product upsells for your organization?