Planning for a Downsell? Learn How to Avoid No’s
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. Master the art of planning for a downsell. Just 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.
We make it sound simple because, well, it is simple.
An Example of a Downsell
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 downsell. 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
Struggling? Keep This In Mind
The most important thing about a downsell 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 customer’s radar increases your chances of future conversions. Here at My Clone Solution, we like to focus on the long game, not the 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 brain” 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 downsell, clients are able to get your specialized attention without the hefty price tag and you as a business owner now avoid giving away your time for free. Good deal, right?
The upsell and downsell are powerful tools that you can easily take advantage of to grow your business immediately. With time, planning for a downsell will be one easy step in a flawless sales process. Stay patient. Practice makes perfect!