Let’s assume, on average, that’s a $50 increase per sale.
Now, Nancy is going to add one upsell. Not some BIG elaborate funnel…just one simple upsell that complements the initial product.
How about this?
Nancy’s upsell is a simple, $97 product. She’s not asking her customers to drop a grand in an additional product, simply $97.
On average, with self-study products, 20% of customers tend to purchase the upsell.
If Nancy sold 100 of her initial products at $647 (over the course of 10 months) and 20 upsells at $97, then Nancy just made $66,640 gross.
That’s just from one initial product and one low priced upsell.
But, what’s the big deal, right?
Well, if Nancy was still only selling 10 products per month at $597, then her ten month gross from this initial product would only be $59,700 …with our new way, she will have made an additional $6,940!
Remember, I said before Nancy has 15 of these product lines?
Let’s assume her sales are the same across the board, only 10 sales per product per month and 20 upsells for every 100 she sells.
We’ll stick to 10 months to make the numbers easy to crunch J
At her original price point of $597 and a total of 15 products that she sells, while selling 10 of each per month, over 10 months she would have grossed $895,500
Now, let’s see what her gross revenue would be if each of the 15 had the 8% price increase and the upsells taken into consideration.
Her gross revenue would be $999,600!
That’s over $100,000 in increased, gross revenue across 10 months!
Can you see what that little increase of 8% plus adding an upsell can do?
In the last part, we will look into the more complicated approach. We call it the…