This article is in collaboration with the Shopify app Monster Upsell
At the end of this article, you will be able to understand everything about the upsells, why they are so essential if you want to grow your e-commerce business fast, and how to use them the best way to skyrocket your e-commerce business!
Ways to Increase the Average Customer Spend : using upsell
"Upselling" refers to a sales strategy that businesses use to encourage customers to purchase a higher-priced or premium version of a product or service. By suggesting a more advanced or upgraded option with additional features, benefits, or better quality, businesses aim to increase their average order value and revenue while providing customers with greater value and possibly a superior experience.
For instance, if a customer is considering buying a basic laptop, a salesperson could offer an improved version with a faster processor and more storage. Similarly, a restaurant server may suggest adding a dessert or side dish to a customer's meal order.
Effective upselling can help boost profits, but it should be implemented with care and consideration for the customer's budget and needs.
Why is it essential to use upsells today when doing e-commerce ?
Upselling is an important strategy for e-commerce businesses because it can increase revenue, profit, and customer lifetime value. Here are a few reasons why it's essential to use upsells in e-commerce:
Increases average order value
By offering relevant upsells at the point of sale, businesses can encourage customers to purchase additional items they may not have considered before. This can lead to an increase in the average order value, which can directly impact the business's bottom line.
Improves customer satisfaction
Upselling can also improve customer satisfaction by helping customers find products that meet their needs and preferences. By suggesting relevant and useful products, businesses can demonstrate that they understand their customers and are committed to providing a personalized experience.
Boosts customer lifetime value
Upselling can also contribute to higher customer lifetime value (CLV), which is the total amount of revenue a customer is expected to generate over their lifetime. By encouraging customers to make additional purchases, businesses can increase the CLV of each customer, which can have a significant impact on long-term revenue.
Overall, using upsells is an effective way for e-commerce businesses to increase revenue, improve customer satisfaction, and boost customer lifetime value.
Best practices to increase average sales per customer
Upselling is a powerful strategy that can help increase your average order value (AOV) and boost your revenue. But how do you do it in a way that doesn't feel intrusive or spammy? In this blog post, we'll take a look at five upsell techniques that have been proven to be effective and easy to implement for stores built using Shopify.
First, let's define what an upsell is. An upsell is when a business offers a customer a more expensive or upgraded version of a product they're already considering purchasing. The goal is to increase the customer's purchase value without interrupting their buying process.
Now, let's take a look at some of the best practices for upselling:
- Upsells must be simple and easy to understand at a glance. Customers should be able to quickly understand the offer and the benefits of taking it.
- Upsells must feel natural. They shouldn't be intrusive or feel like spam.
- Pop-up offers can decrease conversion rates. Instead, opt for offers that don't interrupt the buyer's experience and don't look spammy.
- The higher the perceived value, the more likely someone will take the offer.
With these best practices in mind, let's take a look at five upsell techniques that never fail:
Unlock Goals to increase AOV
Using free shipping, gifts, or discount progress bars to increase AOV is a great way to upsell. As customers add more to their cart they unlock rewards. This a great way to increase average order value without spammy offers. Many big brand stores are doing this now as evergreen offers. For example, $30 million supplements brand Myobvi will give you gifts if you add more to your cart. The more you add to their cart, the better gifts you receive.
If you aren’t charging for shipping protection you are missing out on instant money. This is a newer concept that stores are doing. You are already likely offering your customers shipping protection. (Shipping Protection covers packages that are lost, damaged, or stolen during transit.) Why not get customers to pay for it. Supercharge this offer by having it auto added to every order and allow customers to remove it. One way to implement this is using the one tick upsell option within the upsell Cart App MonsterUpsells.
Buy More Save More
Buy More Save More is an effective upsell technique that persuades customers to add more of the same product to their cart to get discounts. This can be done within product pages, or within the shopping cart. By offering a discount on larger quantities, customers are encouraged to purchase more, which ultimately increases the average order value. Additionally, you could also offer a tiered discount system, where the more items a customer purchases, the greater the discount they receive.
Frequently bought together
Frequently bought together is an upsell technique that offers customers complimentary products that are often purchased together. This can be done using machine learning algorithms to analyze customer buying patterns and suggest products that complement the item currently in their cart. By offering complementary products, customers are more likely to purchase additional items, increasing the average order value.
Increasing perceived value by bundling products is another great way to upsell. You can bundle products that complement each other and offer them at a discounted price. This not only encourages customers to purchase more items, but it also increases the perceived value of the products by offering them as a bundle. Additionally, you could also offer a customizable bundle option, where customers can select the products they want to be included in their bundle and receive a discounted price.
By incorporating these 5 upsell methods, you can elevate your e-commerce store's Average Order Value (AOV) and enhance your revenue. Due to the constraints Shopify has, it's normally very hard to achieve all these types of offers on your store at the same time. However both Shopify apps MonsterUpsells and Widebundle work seamlessly together and make it easy for you to execute these techniques without interrupting your customers' buying experience. Enticing customers to add more items to their cart, resulting in higher revenue for your store.
Shopify app to increase average sales per customers : Monster Upsell
Monster Upsell is a Shopify app that helps merchants increase their revenue and average order value by suggesting relevant product upsells and cross-sells to customers at the point of purchase. The app uses a smart algorithm to recommend complementary products to customers based on their browsing and purchase history, as well as other factors like cart value, product category, and more. Merchants can customize the upsell offers and choose where and when they appear in the buying process. The app also features detailed analytics to help merchants track the performance of their upsell campaigns and make data-driven decisions to optimize their sales strategy. Overall, Monster Upsell is a valuable tool for Shopify store owners looking to boost their sales and revenue.
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