Excerpt: One-click upsell is a one-way ticket to increasing sale revenues and higher rate conversions within your business. Using effective tools and techniques like pop-ups, consumer feedback, service surveys, and linear payment gateways, your business’ sales and conversions will soar in no time.
Increasing focus on online platforms in terms of shopping has become instrumental to businesses and gives them the go-ahead into adopting riveting ways to skyrocket their businesses online.
The primal focus of businesses is to strike all-time revenue highs and generate unmatched conversion rates at their checkout points. This is where one-click upsell enters the chat. Businesses are making a sharp headway in the D2C market by mobilizing superior techniques and utilizing trustworthy tools.
According to a study by Emstatic, about 80%-100% of consumers will choose D2C businesses for their shopping requirements in the next five years since everything in this market is just a few clicks away. Invariably, according to Insider Intelligence, about 400 brands in the US have entered this game, and traffic on such sites has increased two-fold over the past two years.
This is the correct time and opportunity for you to grow your business as well. Consumers search for a superior brand experience; they yearn for the minimum amount of clicks it takes to check out a page after purchasing a product and a smooth payment gateway. All of the above criteria are fulfilled through the D2C businesses.
Understanding the theory of creating click upsells to increase revenue and conversions on your site will eventually skyrocket your sales. Let’s see what this entails.
How Can One-Click Upsell Benefit Your Business?
It is a Herculean task to allure new and potential customers to your website as it is to satisfy the existing ones. Studies by Bain have shown that attempts at retaining your available customers by 5% increase your business profits by 25%.
Human psychology predicts that consumers are driven by the products that have long-term benefits in their life. As long as you get the right offer in the right place, your customer will keep coming back for more.
Pre-purchase upsells are at a disadvantage if your sale offer does not strike a deep chord in your customer’s mind. You must focus on post-purchase upsells to hit the revenue record highs and generate more conversions on your site.
Post-purchase upsell ensures you never lose a sale. When you provide your customer with an offer to improve their shopping experience after purchasing their product, they are more likely to try it. A study by Mckinsey has shown that post-purchase upsells increases your revenue by 35%. Plus, Retaildive has found that 52% of consumers get hooked on a brand when offered post-purchase upsells.
Increasing Average Order Value (AOV) on your website is only possible when you utilize one-click upsells after your consumer completes their transactions. It persuades consumers to purchase another product that they did not visit your website for.
For example, if you, as a consumer, purchase your preferred flavour of coffee from an online website, you may be led to purchase the milk frother and a ceramic cup that they are offering after you have completed your transaction for the coffee. You might not have visited the website searching for these products, but an urge inside you tells you that you need a new cup and a frother for your milk when you make a cup of coffee in the morning.
Companies like Away used these techniques to head the D2C world in the future. From being just a luggage company, they earned their loyal customers’ trust and elevated to become a travel company.
Even Mcdonald’s earns their revenue (the money they actually get to keep with themselves) from their one-click upsell strategies. With a burger of $3, which takes 3 dollars to make, they also upsell you the option of purchasing a coke and fries at an additional 2 dollars. Without blinking, consumers go for this. This is where McDonald’s’ real revenue lies.
This is the power of a one-click post-purchase upsell. You don’t come searching for it, but it gets to you anyway.
How to Use One-Click Upsell to Increase your Business Revenue
The trick to ace a one-click upsell is to place the right offer at the right place at the right time. Once you get these fundamentals right, there is no stopping.
Although there are some basic techniques that you can utilize in your business to increase revenues, your upsell offer is unique to your brand and what you sell, as well as your consumer base.
Here are some fail-proof techniques on how you can utilize one-click upsells to skyrocket your business revenues:
A trusted technique when it comes to narrowing and raising the sales funnel, service satisfaction surveys are one technique you must implement in the post-purchase experience of your consumers.
Once they are through with their transaction, provide them with a consumer satisfaction survey. Keep it short, sweet, and exciting so your consumer does not opt out of it.
Consumer satisfaction surveys allow businesses to understand consumer activity, their preferences, and what they are likely to purchase the next time they visit your website.
This way, next time they are checking out off your page, you can drop a suitable upsell in their way.
Restock reminders are a great way to engage your customers, increase AOV and narrow the funnel even further. How?
This applies to recurring products that your consumers might purchase off your website in a loop, including pharmaceutical or skincare products. You know that they will come back for their favourite bottle of sunscreen once they are through with their last.
Before this happens, you can send them a reminder to restock on their mail address or WhatsApp, whichever you may have access to. This will allow them to grab their products before they run out of stock and an opportunity for you to increase your revenue.
The Power of Online Reviews
As a millennial, do not underestimate the power that lies within product reviews by reliable consumer sources. A study by Ecosultany has shown that 61% of consumers read consumer reviews of a product they anticipate purchasing.
Once your consumer has processed the transaction, slip in some reliable consumer reviews on the same product, so they don’t regret their purchase and anticipate more future purchases.
After this, insert some of your best-selling products with the highest-ranking customer reviews that closely complement the product purchased. This creates an illusion of enticement for your consumer to push the other recommended products and bestsellers into their shopping cart.
How to Increase Conversion Rates Using One-Click Upsell?
A Wordstream study says about 25% of businesses attain conversion rates above 10%, while an average conversion rate of 5.31% is considered good. Moreover, a majority of businesses are still stuck with 2% conversion rates.
Conversion rates imply how many consumers purchase your product from 100 that actually visited your website. So, ideally, 10 consumers out of 100 that visited your website should make a purchase for your business to fall under the top 25% who are actually satisfied with their Conversion Rates.
If your business does not fall under the higher bracket yet, do not fret. Here are a few proven techniques which you can apply to your business if you wish to achieve Conversion Rate Optimization (CRO):
A Fail-Proof Cart Abandonment Policy
On average, a Popupsmart study has shown that 69.8% of industries face the issue of cart abandonment where the consumer’s cart is full, but they leave the page without purchasing the product.
You can circumvent this by sending those consumers follow-up emails with subject lines clearly defining their cart abandonment. Incidentally, this might catch the consumer’s attention, and they might come back to complete their purchase.
You can use exit pop-ups when they are trying to exit the page without purchasing the products. These will determine the intent of exit, which gives you enough time till the next purchase to upskill your policy.
Another viable cart abandonment policy that might work is offering a guest checkout policy through which consumers don’t have to waste their time logging in. They can just fill in the details and checkout.
Offering them free shipping during the time of their purchase is also enough motivation for consumers to actually buy the product.
According to Popupsmart, effective pop-up utilization on your website can provide your business with a CRO of 3.09%. Hence, focusing on pop-up optimization on your website should be a priority. Here are a few ways in which you can amplify your pop-ups to increase CRO.
- Select the apt time and audience where you will insert your pop-up.
- Fix the delay option on the pop-up, so it does not annoy the consumer every time they open your website.
- The pop-up design should be minimalist and modern to catch attention.
- Make the exit option clearly visible to your consumer.
- Use a straightforward call to action.
Live Chat Option
After opening a website, most consumers spend time filling their heads with doubts about the products they may or may not purchase. That one bit of doubt sometimes results in them not purchasing the product at all.
Websites with the most conversion rates always opt for live chat tools to maintain their superior consumer support system.
A live chat option enables doubt-clearing exercises that allow the consumer to get unbiased clarification on why they should purchase the product and its significant use to them.
This superior strategy is bound to get those conversion rates higher than normal.
One-click upsells are a boon to your business. With the right technique at the right time and place for the right audience, you can upsell your way to higher revenues and conversion rates in no time.