Does the thought of online course creation and products to make more monthly revenue makes you cringe?
There are other ways you can increase your revenue. One of our favorite ways is offering upsells, downsells, and order bumps.
Let’s look specifically at paid additional resources and offers. With every course creation and product you offer, you’ll get three different types of people:
- Those who would love your product but either aren’t at that level yet or who really can’t afford it
- The purchaser who is happy just getting what you’ve offered
- An eager beaver type who wants even MORE and who want to progress faster
Make it easy for your buyers to get everything they need by including related products right in the sales funnel—starting at the landing page level.
When you include alternatives or upgrades in your landing pages, you cater to these three types of purchasers.
If you provide a downsell, for example, a “Do-It-Yourself” book version of your course creation, make sure your down-sell accomplishes a specific purpose. Namely, getting your not-quite-ready purchaser ready to come back and invest in your course or helping your purchaser make more money so she CAN come back and invest in your course.
The one significant rule is this: With extra resources and products, nothing should ever be added or tossed in with your main offer just for the sake of it. There should always be a strategic reason for including or adding upsells and downsells. One that benefits you, as well as your purchaser. Each offering should have a specific brand-oriented goal, even if it is a one-time offer.
Now let’s look at the types of upsells, downsells, and OTOs (one-time offers) you can add to your course creation.
Upsells
Upsells are generally geared to purchasers who have one or more of the following characteristics:
- Extremely serious about learning whatever your product is teaching or going to do for them
- Eager and ready for the next level – and don’t want to wait
- They are able and willing to pay for your upsell – right now.
But even when the right purchaser can quickly pay for your upsell, they often don’t. They fall victim to the “I’ll get it later” mindset.
A great way to encourage them to purchase the upsell now is to offer a time-limited chance to take advantage of a significant discount in your course creation. This works particularly well when you introduce a high-end, brand-new program such as a training course or membership club as your upsell.
Think of it as seeding it to ensure it takes off and becomes instantly active and visible. Weigh the benefit of this versus the amount of money you want or need to make.
Are you in it for the long haul? Then don’t be afraid to try this tactic. Using a counter, counting down the time your offer is available, is one way to encourage people not to delay in purchasing.
Downsells
Downsells are a great way to:
- Give people who aren’t ready for your main offer a less expensive or less complex way to sample what you provide in your course creation
- Create even more extra monetization
OTOs
One-time offers are usually available only with one email or one main offer, such as a new course or new software. And yes, you could easily classify the sort of significant discount in the Upsells we looked at as OTOs. That is, the course itself may not be a true OTO. It’s an upsell – but it also doubles as an OTO because the discount is only available that one time, for that limited time.
The ‘Retirement Sale’ OTO: This is a great way to monetize your retiring products. It’s also a great way to give a final burst of monetary life to products well past their prime and no longer making any sales.
Bundle your course creation with related products together to create a powerful OTO all on its own, unattached to any other program.
The important thing is the type of offer you create and the mindset of always looking for opportunities to increase monetization on every offer you make.
Order Bumps
The last type of monetization addition we’ll look at is the “order bump,” a term many people first became familiar with when viewing or creating ClickBank order forms.
This strategy is straightforward monetization at its finest, where you add additional specific options right at point-of-sale, using buttons and/or checkboxes to entice people into clicking and purchasing more.
There’s no limit to the additional offers you can include to “bump” your purchaser’s order into a higher bracket, but again, be highly selective. Make sure that whatever you add is relevant and helpful in your course creation. Why? It’s a strategy that works! It will add extra depth, give them a decisive additional advantage or benefit, and make their whole experience with your product or membership significantly more prosperous and more satisfying.
Introducing the “Money in Your Existing Programs” Profit Planner from Melanie M. Davis and her team at EBA – Excellence Business Academy.
Learn all about it by clicking here.
What material is in this training?
It comes with:
- Textbook
- Workbook
- Idea Generator
- Checklist
- Calendar
- Tools and resource guide to show you what EBA uses in their business
Don’t miss out on this opportunity!
