So much time is spent on audience acquisition, average order value, and shopping frequency, that many people forget about upsells and the confirmation page. You’ve already gotten the transaction. What else is there to do, right? Well, there is significant opportunity for driving revenue, retention, and consumer value immediately after the transaction is completed…
Driving additional revenue per session can help pay for more expensive media, thus potentially reaching better or larger audiences. So, adding upsells to your transaction path can make a significant impact for your business.
When the consumer has reached the confirmation page, you have data for the transaction they just completed. Depending on how your technology is setup, you may also be able to access historical transaction data for that consumer on the fly and/or products they looked at but didn’t purchase. Whether you have a little or a lot of shopping data, this is a perfect opportunity to upsell that consumer other products and services…
- You know what the consumer likes or needs. Present similar products that the consumer might not have seen while shopping.
- When selecting products to display, use similar styles, brands, sizes, etc. That will minimize clicks and improve conversion rates. Ideally, the consumer shouldn’t have to start the shopping process all over again. It should take just a few clicks to purchase the upsell.
- Complementary products can include accessories to the products they recently purchased.
- If the consumer just bought an MP3 player, then showing a variety of headphones or cases would make a lot of sense for an upsell.
Keeping the upsells small and relevant will help drive conversion. Think of them as an impulse buy. If the value proposition is simple and clear, then upsell conversion rates will be good.
There are also many third party offers that you can present to consumers as an upsell on your confirmation page. They could be complementary products and services, such as warranties, accessories, or gift cards. There are also subscription offers to magazines, membership offers to services such as Netflix, Verizon FIOS, and Gevalia. And then there are co-reg offers.. simple opt-ins to offers such as mailing lists that companies might pay $0.15 – $0.90 per sign-up, depending on how targeted your audience is.
In part two of this topic, I will discuss where you can find offers to use as upsells. In part three I will talk about ways for implementing upsells and how to use the confirmation page for viral marketing and audience retention.