Ecommerce upsell: Upselling isn’t always easy but if you know your customers enough, you can always come up with a strategy. You can map out a great technique that won’t only increase your revenue but will help your customers find what they’re looking for. A relatively easy and quick way to generate more revenue is to expand the range of products that you’re selling to your existing customers. They have known your service for a long time and they will be more than pleased to find a one-stop shop solution for all their shopping needs. It’s a win-win!
One great way to upsell on Shopify is to add complementary/related products to your webpage. Regardless of the industry size; upselling has obvious benefits for any business. Encouraging your customers to buy additional products that will enhance their experience is a great approach, but this should be done in a thoughtful way. Adopting this strategy of upselling to your existing customers, you can expect a much higher response rate because it increases conversion rates, cart value, overall revenue as well as enhances the overall user experience.
Instead of putting a whole variety of unnecessary products in your customer’s face, present them with product choices that make sense and will truly add to their experience. Statistics showing how upselling via related products increases sales and revenue. According to one report published by Amazon, Upselling via complementary/related product generates as much as 35% of profits.
Forrester Research analyst Sucharita Mulpuru says that complementary product recommendations show an average increase of 10-30% of revenue on e-commerce sites.
Where upselling through offering complementary products increases average order value, marketing metrics also state that the likelihood of an existing customer buying the complementary product is 60% to 70%, whereas the probability of a new prospect buying the same complementary product is 5 to 20%.
As far as the conversion rates are concerned, upselling with complementary/related products gets up to 3% conversions when correctly and effectively used on the checkout page.
Don’t overlook the opportunity to upsell with complementary products to your current customers because it’s one of the easiest ways to generate higher revenue while improving customer satisfaction and experience.