Planning for a Cross Sell and Next Steps

Identifying a Cross Sell

Would you like fries with that?

 

We’re sure you’ve heard that line before but did you know that you were being cross-sold to?

 

Chances are you probably had no clue, but every time a burger joint offers you fries or a soda with your meal, they’re further capitalizing on a sale they’ve already made.

 

And if you hadn’t noticed, they’re pretty successful with the cross sell. We eat a lot of fries in America.

 

A cross sell is meant to offer products and services that serve as a natural complement to things we already planned on buying. The cross sell should feel like a natural addition to your purchase instead of a forced purchase. The more time you spend thinking about your products and services, the more likely you are to develop add-ons that make sense.

 

When you order burgers, you naturally want fries.

 

When you order ice cream, you naturally want sprinkles or a cone.

 

When you pay for business strategy coaching, you naturally want sales coaching to maximize the effectiveness of the strategy coaching you’ve already paid for.  

 

Cross sells aid to maximize the value of your original purchase, not take away. They’re harder to sell on their own which is why they’re best when partnered with core offerings.

 

Cross sell items aren’t meant to trick people, but to increase the value of your customers purchase along with your bottom line and profit margins.

 

Cross Sell Examples

Let’s look at a couple of examples of what common cross-sells looks like.

 

Ex 1

A mother of two pays a personal trainer to help her get in shape for the summer.

 

The fitness trainer then partners with a vitamin shop & nutritionist to sell her supplements and healthy pre-made meals.

 

This is a good example of a cross sell. Why?

 

Because the mom of two would most likely not pay for supplements and healthy meals if she wasn’t already paying for physical training. The personal trainer capitalized on a natural compliment to his services.

 

Ex 2

Tim walks into a Verizon store and buys the latest iPhone.

 

Before Tim checks out, the cashier asks him to pick between three cases for his iPhone.

 

Tim would never consider buying a case unless he purchased the iPhone. He eventually planned to buy a case to protect his investment, but since the retailer offered the case (using suggestive selling) he’ll likely purchase one before he leaves the store.

 

The case works as a perfect complementary cross sell.

 

Anytime an opportunity presents itself, you should try to offer a cross sell with your sale. The worst that can happen is the customer saying no.

 

Where Do These Fall In The Funnel?

Now that we’ve broken down up-sells, cross-sells and down-sells, the million-dollar question is where do these all fit in your sales funnel?

 

Ready for the billion-dollar answer?

 

ANYWHERE

 

We know that answer is vague, but it’s the correct one.

 

There isn’t a perfect spot in the funnel for an up-sell, down-sell, or cross-sell. It all depends on the funnel and your offers.

 

If your core offer comes after four email exchanges, you should probably include downsells in the fifth, sixth and seventh emails.

 

Think about the funnels you’ve been in, knowingly or unknowingly at the time. Do you remember when you were offered additional products and services? If you can remember, and they were successful, try to replicate them in your business.

 

The key to keep in mind as you craft your ancillary offers is that they are all reactional to something else. They’re reactional to someone purchasing an offer (offering an upsell or cross sell),  or reactional to someone declining an offer (offering a downsell). These offers happen when they make sense during your unique sales cycle.

 

Going forward, try to recognize when someone is trying to upsell you, downsell you, or offer you a cross sell. Being able to identify these offers when they’re happening will help you create better offers for your own business.

 

Reactional Cross Selling

The last time you said no to an offer, were you offered an additional discount or extra value?

 

The last time you bought something, were you immediately asked to upgrade or purchase something else?

 

The answer to both of these questions are more than likely yes and both of these are reactional offers to an action you took or did not take.

 

Help guide your customers’ decision-making process by appropriately reacting to their moves.

 

Below are three quick examples of reactional offers that have been proven to increase business revenue over time.

 

Ex 1

When you try to leave a website, you receive a pop up asking if you’re sure you want to leave that includes a new offer.

 

Ex 2

When you purchase a service that helps you build a course and shortly after you’re asked if you’d like to purchase a service that helps build your sales funnel driving people into your course.

 

Ex 3

When you show interest in a free coaching call but you’re not quite qualified to pay for thousands of dollars a month in coaching, you’re offered a self study, self paced course.

 

In each of these examples, the customers moves are met with counter offers to keep them in the sales cycle.

 

Next Steps

Start planning your product offerings with successive up-sells, down-sells and cross-sells.

 

Your products should work without you to free up your time. The goal is to offer your time as a premium service, not an ancillary one.

 

If you’d like to know more about implementing your upsell, down sell or cross sells, just contact My Clone Solution for a free consultation today!

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Planning For A Downsell

Planning For A Downsell

Avoid No’s with Down-sells

What should you do when you need to overcome objections in your sales process?

Do you have a plan of action when your warmed lead won’t buy your core product?

Do you give up when your lead cannot afford your offer or do you get clever?

 

Our suggestion? You need to get clever.

 

All because someone can’t afford your core offering, doesn’t mean they are not willing and able to purchase other offers from you of lesser value. If your first product or service doesn’t convert the way you imagined it would, just step back and listen to your customers needs, then create something else.

 

We make it sound simple because, well, it is simple.

 

Downsell Example 1

For instance, if your $1000 a month coaching program with a 6-month retainer is too expensive for a lead, offer something of lesser value with a similar purpose. $6000 is steep for many, but a $1500 self-study course may be more attainable for your leads (especially with a payment plan).

 

Offering the less expensive study course would be considered your down-sell. Taking yourself and your time out of the equation allows you to spread your resources further, opening the door for greater future profits.

 

Not to mention, some people truly do enjoy the DIY aspect of certain training programs. Don’t be afraid to offer product variations for different types of clients. There’re different strokes for different folks.

 

All because the initial offer was too steep for the client doesn’t mean that you can’t offer second or third down-sell proposals that are more in line with your customers’ current needs

 

Keep These In Mind

The most important thing about a down-sell is its ability to keep a lead in your sales funnel for future offers and promotions. All because someone isn’t willing to buy today doesn’t mean they will be unwilling to buy in the future. Staying persistent and on the customers radar increases your chances of future conversions. Here at My Clone Solution, we like to focus on the long game, not overnight success.

 

If someone is interested in your core product, figure out what is it about your core product that entices them. Take the time to understand your potential customer’s desire then craft a “lite” version of your product to down-sell them into at a price point that’s profitable for you and undeniable for them.

 

Something common that we hear from coaches is that someone want to “pick their brains” over a cup of coffee but doesn’t actually want to pay for their time.

 

How annoying!!

 

If this is a problem you’re currently running into, you should do one of two things. Either start to target more affluent clients who’re willing and able to pay for your services (this is a whole separate blog topic) or the easier option, create a private Facebook group where you host open office hours but only to paying members.

With this version of the down-sell, clients are able to get your specialized attention without the hefty price tag and you as a business owner now avoids giving away your time for free. Good deal, right?

 

The upsell and down-sell are powerful tools that you can easily take advantage of to grow your business immediately.

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Planning For An UpSell

Planning For An UpSell

Planning for an UpSell

 

When you have an upsell for your product or service, that means you have a logical next step for the buyer.

 

Customers want to know where to go next after the first sale. If they are left satisfied, they are going to want more product from you.

 

After the sale, it’s important to continue to provide value and entertainment to create raving fans. A continual return on the customers’ investment is essential.

 

If your product does not have an upsell into the next offering, you need to either create one,  develop a business model where your customer needs to continue to work with you, or partner with someone else to offer additional resources through a referral program.

 

If you already offer multiple products, make sure each of those products have an upsell into another offer. The goal is to continuously have these clients purchasing from you or wanting to work with you.

 

Check out some examples of what a continuous upsell looks like in a sales funnel.

Upsell 1

If you have a free guide lead magnet, the immediate upsell would be to your book.

 

If your book is 10 steps on how to do something or “The Complete Roadmap to Something,” create a checklist for completing it.

 

Follow up the checklist with the explanation of each step in a book. You now have an introductory lead magnet in the form of a quick checklist guide and an upsell to your tripwire in the form of a short book for $19 or $20.

 

Upsell 2  

After sending a few emails to continue to keep the new customer warm after the sale of the $19 book, you should be able to sell a number of your customers into a $300 assessment or service.

 

Upsell 3

Out of those who purchase your $300 assessment, you should be able to convert a percentage of those into a $1000 monthly coaching program if you were able to provide enough value in previous upsells.

 

Upsell 4

While these customers are in your $1000 a month coaching program, you’re able to upsell them into other a la carte items as well as quarterly reviews and assessments. This would result in the creation of a membership platform with recurring revenue, all from a free lead magnet guide.

 

By now, you’ve got a pretty good idea of what multiple upsells should look like during a sales funnel.  You’re continuously making offers with increased value resulting in the potential of additional sources of revenue.

 

Some argue that down-sells are easier to execute than upsells. We believe it’s all a matter of perspective. Follow up with our other posts where we deep dive into down-sells and what that could mean for your business.

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Up-sells, Down-sells & Cross-sells

Up-sells, Down-sells & Cross-sells

A Brief Intro to Up-sells, Down-sells & Cross-sells

 

When it comes to your product or service, we sell them because they provide value to its user and gratification for us, partly in the form of monetary compensation.

 

When you’re trading your time for your craft, whether that’s developing the product or making the sale, everyone’s goals is to maximize their profits and minimize their time spent.

 

That’s where upsells, downsells and cross sells come into play.

 

When you’re selling a product or service, if you can find ways to maximize your profits without compensating your quality or customer service, you do it. Providing related products and services while someone has entered buying behavior increases the chances of a bigger purchase.

 

An upsell occurs when you’re able to convince a buyer to purchase a product that is more expensive than the one they initially planned. You’re able to do this by providing more value than the consumer expected.

 

Downsells happen when you’re able to convince a buyer to purchase something of lesser value than they originally expected. Downsells are easier to take advantage of because you have already established trust with the consumer. Suggesting that they purchase something with a smaller price-tag is a reasonable ask after they’ve already paid for something pricier.

 

Cross-sells fall somewhere in between upsells and downsells. Offering something of similar value at some point during the sales cycles allows you to add to your profit margins without having to spend additional time or resources on the sale.

 

The point of upsells, downsells and crossells is to maximize your profits and minimize your time spent. You are creating extra opportunities for yourself from the same amount of resources.

 

Nobody does this better than Amazon. Whenever you make a purchase on Amazon, you’re offered other similar products. Sometimes we buy, sometimes we don’t but the option is there and that’s the point.

 

If you could do this effectively in your business, what would this look like?

 

You would be able to:

Overcome objections with offering other options

Add on additional value to each sale, increasing your revenue

Create value from positioning buyers to take next steps after sale

Deliver a clear path to multiple products

Provide options when the buyer says yes

Provide options when the buyer says no

Give the consumer what they want in sellable pieces

Diversify your business

 

These days many new business owners fall into the coach or consultant category with their time being their core product as they sell their knowledge. With upsells, downsells and crossells, entrepreneurs in this space can now profit from their knowledge from different avenues in the forms of books, courses and so much more.

 

This is just the beginning of the power of upsells, downsells and cross sells. Check out our other posts as we go more in depth about the selling tactics available for your business.

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Can I Trademark a Hashtag?

#notajoke

Hello – welcome to 2019.

 

Because it is 2019, this is a legitimate conversation we need to have.

 

In the world of Instagram fame and viral tweets, creatives need to know whether or not their unique hashtags can count as intellectual property and whether or not that property can be properly trademarked.

 

With a bit of guidance form Erica DiAngelo from DiAngelo Law, we found out that YES, you absolutely can trademark your unique hashtags.

 

The difference here is that other people are still able to use the hashtag even though you own it.

 

Hashtags are now searchable tools that people use on social media – ideally, you would want people to use them all the time if it was synonymous with your brand.

 

To qualify for a trademark of your hashtag, it must be used to directly identify a product or service. If you qualify, you can protect yourself from the infringement of other entities on your hashtag and prevent them from impersonating your brand. As stated, others are still free to use your hashtag reasonably on social media.

 

As an example, our company My Clone Solution provides an array or lead generation services. Because the phrase “lead gen” is descriptive in nature, it could not qualify for trademarking. Whereas if My Clone Solution offered a service called the “Super Lead Solution,” we could trademark it because it describes a specific service we offer.

 

The Golden Rules for trademarking your hashtag are to make sure that it actually works for your business and that it is not too generalized or descriptive. Again, these are general guidelines to trademarking. We always recommend seeking out a local expert for all your trademarking needs.

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Do I Really Need a Trademark and How Do I File One?

Everyone Says I Need a Trademark…Is This True?

If you have a brand, company or service that you want people to identify, then you most likely need a trademark. Before filing a trademark, you need to make sure you have a name that could actually be registered. Before submitting official paperwork, there’re a few things to take into consideration.

 

First, you want to make sure nobody else has the same name or logo that you plan on using.

 

If someone else owns it, or something similar, forget about it. You don’t want to have your application end up in refusal.

 

The next thing to keep in mind is whether or not your name is specifically geographic or descriptive is nature. Often times if a brand is over localized the trademark office will deny your application.

 

After you’ve made sure that your name or logo is unique to your company and the name is reasonable, you may want to consult with a trademark attorney to tie up any loose ends for your brand.

 

If you’ve gotten professional approval, it’s time to visit the USPTO website and begin your filing!

 

When you get to the site, you’ll be greeted by a host of options from getting started to the application process and maintaining your trademark registration.

 

When you choose to file your application, the fee is usually $275.

 

You will need to fill out the general application about your business, services and logo. The next step will be to identify which international class your trademark falls into. If your trademark falls into multiple classes, the application fees will vary accordingly.

 

When you submit your brand for trademarking, it isn’t an automated process that approves or denies your submission. There is a trademark examiner who physically examines your brand and they may be very particular in how you define your products & services.

 

Once you’ve submitted your application for trademarking, you are not able to go back and broaden the categories that your trademark can serve. Make sure to have your ID of Goods correct from the start.

 

When it comes to the products and services your trademark can represent, there are strategies available to maximize your budget when it comes to filing. This is why it’s a good idea to do your research before you start your application, and why we highly recommend that you consult a patent or copyright attorney to make sure you’re getting the most out of your new registration.

 

People have called My Clone Solution the swiss army knife of business, and we’ve earned that title for a reason.

 

A swiss army knife is not going to help you cut down a whole tree, but it’ll definitely get you started. That’s what we do. We understand that My Clone Solution isn’t an expert on trademark law, which is why we’re so delighted that Erica DiAngelo could join us. A repeated theme here is to seek out expert counsel since every trademark situation is different.

 

The process of getting your trademark approved or denied takes around four months. If you fail to meet all the requirements and receive a refusal, you may find yourself spending 6 to 8 months just to get your brand trademarked.

 

Watch our videos. Do your research. Consult an expert.

 

As a final note (which truly we should have started with) you’re able to trademark both logos and phrases with the USPTO. Within these trademarks you’re able to register products and services.

 

Check out more from Erica DiAngelo’s Google My Business Series where we cover hashtag trademarks and the ™ ® and © logos.

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