What is an upsell? Simply put, it’s positioning another product tier or supplemental offering at a higher MRR.
Strategies to Upselling
There is always an opportunity to boost MRR for a customer but it’s ensuring the correct product is upsold to fit their needs. Upsells provide a new opportunity to provide a boost their overall business success, too.
1. Identify the Customer’s Needs By Ask Qualifying Questions
- Whether you’re reviewing data planning a strategy or engaged in a customer call, chances are their data supports a potential to grow their direct booking revenue. Listen intentionally to their business concerns and determine whether or not an increase in marketing services will improve their customer experience.
- Here are a few qualifying questions to understand their needs:
- What are your current business pain points?
- What are some of the hurdles holding your teams back from reaching goals?
- Have your objectives and goals changed in your business?
- What is your current strategy for [insert service, not with Q4L]?
- [customer says something they’re unhappy not provided by Q4L], how can we best assist you with growing your business? We offer this service.
- What other revenue drivers do you have in your business?
- Do you have a shop on property and want to grow your business revenue? [applicable for WooCommerce]
- How are gift certificate sales going this year? [applicable for Q4Flash]
2. Determine the Product to Upsell
- After you have determined the need, it’s time to evaluate the product or marketing service upgrade to best fit their need. Review their needs with your team lead and work through the pricing for the services they’re looking to add. If a customer is hesitant to add any new services, a slight setup fee discount may be applicable to grow their expected MRR.
- Here are a few example scenarios:
- Marketing and Direct Bookings:
- If a customer is noticing direct booking revenue is down with a small Ads budget, it may be easy for them to add more spend and increase their management fee.
- If a customer is noticing traffic from social media channels is down, it may be an option to add social media to their package.
- If a customer receives content only with email channels underperforming, it may be an option to add email marketing to their package.
- If a customer is not on our website platform, ask them about the pain points of their website and share specific data about how our platform may increase their traffic, rankings, and behavior.
- Lead Generation:
- If a customer has content and email marketing with no current email marketing list growth, consider recommending a lead generation tool like a Vacation Guide or Itinerary.
- If a customer is looking to grow their wedding business, consider adding the wedding marketing package to grow their potential leads.
- If a customer is looking to grow their property inventory, consider adding the homeowner acquisition tool to grow their potential leads.
- Marketing and Direct Bookings:
3. Win the Trust With a Case Study
- Bringing data to the customer conversations. When pitching a product upsell, a customer will naturally ask how this impacted customers who have higher-level packages or ongoing MRR services.
- Collaborate with the MM on the account to pull relevant customer information to show how an increased level of service has assisted the higher-MRR customer with their performance.
4. Follow Up
- With any upsell, always send a follow-up email detailing their concerns and reminding them how we can help. Once the details for the product have been discussed with the Team Lead, set up another call with the customer to walk through the pricing and reinforce the value behind upgrading their package.
5. Keep Your SALES Subtle
- The true intention for upselling is to ensure the customer’s business continues to grow. Keep your language around upselling collaborative around their business needs and how this will ultimately improve their revenue.