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How to Upsell With Extended Benefits
However, one area most people tend to overlook is the ability to increase their current sales by upselling their customers the moment they checkout.
But I’m not referring to one-time offers or additional products offered in the same sales funnel. I’m talking about offering customers the ability to upgrade their purchases.
I prefer “upgrade” rather than “upsell” because the latter has received a bad rap of late due to a few overzealous or unscrupulous marketers.
Selling “upgrades” is an area that can become profitable for many businesses in increasing their existing sales. It’s by selling extended services or benefits packages before or at the time of checkout, also known as the “extended warranty.”
There are numerous ways to sell extended warranties (or what I prefer to call “extended benefits”). These silent profit centers exist in almost any business, which can increase the size of a customer’s purchase by 50%, 100%, even 200% or more.
Very often, the sale of these extended benefits have higher profit margins, too.
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