The sales funnel is undoubtedly the single most vital concept in any eCommerce business. A well-designed sales funnel will allow you to increase your income by automating a lot of your online business processes.
This is the path of least resistance when it comes to automatically growing and scaling any business. Here we take a look at some important elements of an effective sales funnels: the tripwire, upsell, and downsell, in order to help you boost your eCommerce sales.
Tripwire marketing is a great way for you to get more conversions. This process is simply a conversion-acceleration hack designed to convince your prospects to buy something smaller from you as opposed to a more expensive product. It’s an effective way to lure customers in with a low-cost offer that serves as a proof of concept before offering them the more expensive product or service.
An upsell is the sales technique of convincing a customer to buy products that are more expensive than their initial purchase or to upgrade, add on other features, etc. It makes the sale a more profitable one. Upselling is important to eCommerce businesses because it increases your sales and allows you to grow your revenue from the same amount of traffic.
A downsell is the process where a seller attempts to convert customers who decided not to go through with the purchase for whatever reason (for instance, insufficient budget). The seller offers a cheaper product that has a higher chance of being accepted. With down-selling, the goal is to acquire the customer, even though you may not profit as much from doing so right away.
Putting it all together
When you have an effective tripwire, upsell, and downsell working together in your eCommerce marketing strategy, you make it more likely that you’ll be able to convince as many customers as possible to purchase your products. This deep funnel becomes your business’s revenue machine that is guaranteed to boost your eCommerce sales.