How to Increase Your MV Sales With Upsells & Downsells

In this weeks podcast episode, Remi Oduyemi shares with you strategic ways that you can Increase Your Sales With Upsells & Downsells!

Podcast, Transcript & Links are provided below.
Please leave comments & feedback at the bottom of the page.

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USEFUL LINKS

• Make Your MV Shine (to access workshops)
• 11 Upsell Ideas to Increase Sale
  
  

FULL TRANSCRIPT:

Remi Oduyemi

Hello, and welcome to another podcast episode. My name is Remi and on the user success Lead here at MemberVault. I hope you are all doing terrifically well, today. In this episode, I'm going to be talking about some ways in which you can increase your sales using MemberVault by using some of your existing offers that you already have. And so we're going to be talking about some ways that you can upsell and down sell to increase sales in your business. So this should be a good one, do grab yourself a pen and paper or if you want to click on the link in the show notes, the transcript will be there. If you want to go back through any of this and any links that I refer to today, I will make sure they are also on the blog link that will be in the show notes.

So before I get into this, I just want to let you know I will be creating a workshop around this specific subject. And it's going to walk you through how to do upsells and downsells in MemberVault. So you can physically watch me go into a product and create a downsell product and create an upsell product. So you can learn how to do this for yourself. That will be available in in the make your MV shine product.

If you're not in there yet, I will also share a link in the show notes to make your MV shine if you want to sign up for that you absolutely can, when that is when the workshop will live. So let's get into this shall we? let's talk about the fact that you may already have a offer, right? It could be a group group program, it could be a course. And let's say you wanted to increase your sales by creating a down sell, right.

So these are some of the ways that you could do it, you could either pull out a piece of content from something you've already created. Or if you're let's say it was a group coaching program. A down sell might be that you sell the same product, but you remove the weekly calls or the monthly calls, you remove the support that somebody would get if they had bought the normal program. Right. So those are two ways that we're going to talk about first.

So the first way was to pull a piece of content out of something that you already have created.
This, I think is one of the best ways to create a down sell. And I've done this myself. So I had a course well, I have a course actually. And it's all around teaching people how to be a more effective coach, right how to be an effective coach, how to get those results. And one of the modules inside of that course, touched on testimonials and reviews. And it was teaching people how to get consistent testimonials. And what I did was I pulled out that whole module, excuse me, I pulled out that whole module from an existing course, and turn that into a down sell product that I could sell at a lower price. So let's say the main course cost $199, I pulled out this one module, all around testimonials and sold, sold that as a standalone product, and sold it for $27 initially, and then it went up to $47. Right. And this is something that you can do, you can look at what you're currently selling. You can even make a decision right? about what you think your audience wants the most and pull out a module from there. You could send an email, you could pull your existing users and ask them questions like, you know what, what module or what lesson was the most beneficial for them, you know, the or the module that they got the most out of? And see what feedback comes from that. If you're already using quiz questions, and you are asking questions at the end of each module, or at the end of each lesson, and getting feedback that way, go back into your MVA look through some of the look through some of the responses that you've had to find out what areas are most popular inside of your course.

And that could be a key indicator for you have a module that would do really well if you pulled it out and sold it separately. So that was tip number one for down sell was to pull out a piece of content from something that you all have already created, and turn that into a a down sell product on its own. And you can do that so so easily in MemberVault by simply going to the module and copying that module into a new product, renaming it put a price on it, and bam, you have yourself a down sell product. And again, I'm going to walk through how you do this and move on to the other was once you've created a down sell product, one of the things so for example, what I had to do with my testimonial course that I pulled out of my my bigger course was I had to really be clear and explain that what they were buying And what they were about to watch and learn was taken from a bigger course. Right. So any references I made to things that I had already coached them on before, was to do with, you know, the bigger course. And then at the end of that product, I also made sure I linked and shared the bigger product, so that if people really enjoyed going through my testimonial training, then it was likely they might be interested in the other parts of my effective coaching course that I had put together, right. So I linked to that. So that that's how the upsell happens is that people come in the would you call it low hanging fruits, right, they come in, and they maybe buy it for $27 or $47, they get a taste of me, they get a taste of my coaching style and the transformational results that they can get. And then I make sure that there is a sort of the what's next module, whereby I am then referring to the bigger course that I've already just pulled this content out to drive sales upwards into that course. So that is something you could also do. And I'll be showing you how to do that as well in the workshop that I'm creating very soon.

So then the other tip, when we're talking about down selling, is to remove support. So let's say you are running like a core group program. And in that core group program, there's going to be you know, standard group calls that you have every month, there's your your content that you put out every month or every week, you have a community group or whatever else you've got going on downscale might be that you remove the support. So instead of having access to group calls with you, where they can ask questions and troubleshoot and problem solve with you, you could remove that so that what they are getting is the core content, right, they get the content and they might get the community, but they don't get access to you.

So let's say you were selling a, a core group program at 999. Right. But then you remove your group calls from that you could now down sell this program, and sell it as just the course content and the community aspect, or just the course content on its own. And now you could maybe price this up at 399. For example, right? These prices are hypothetical, of course, you know, you make adjustments accordingly. But that is a down sell on something that you already have, and may make it a more accessible price point for somebody to jump on board, they get the core content and they get access to your awesome community that you have, but they don't have access to you.

And if they need access to you. Then again, in that down sell product that you're now selling without any group calls in, there would be a module or a lesson that says hey, you know, if you've gone through this content, and you still need some help, or you want some guidance, or, or some expertise and my knowledge on this, then you can upgrade to my core group program. Here's the link. And maybe you also give them a coupon, a special coupon code code that you can put in, that takes off the 399 that they've already spent so that they only then pay whatever the difference is between the 399 and the 999. And you give them a coupon code to make it really easy for them and accessible. And all of this is possible inside a MemberVault. And again, this is something I'm going to walk through how you can do this inside of the workshop that I am putting together around upselling and down selling. And again, a bit like what I described with pulling out a piece of content from something that you haven't selling that separately. To do this in MemberVault. Again, what you would do is you would copy your whole program, so that again this is very easily duplicatable, in MemberVault, you would click on the gear icon, and you would copy the whole program and you would have one that is your full price with your standard group calls. And then the down sell product, you'd go into that product and you would remove all the call information from the the copied version. So if there's any zoom links, you would remove those out and what you would just leave is just the content in there. And if you are allowing people to be part of the community then links to the community, but any content in there that speaks to the group cool programs and the sessions. You would pull that out. You'd put your new price on it of 399 and you've got yourself a really nice down sell off of the back of something that you have already created. And that is so easy to do inside of MemberVault to create an in Increase Sales in your business.

Alright, so let's move on to upsells. Now how can you increase your sales with some upsells? Now, in the link that is in the show notes, I'm going to drop another link on the blog page for you. And this is an actual blog post and there are 11 upsell ideas for you. I'm looking at it now on my screen.
So there's masterminds, there's high touch email series, one to one calls pre and post workshop series, there's loads of other things on here that I want you to go and look at. If you have no idea about how to upsell something that you already have, make sure you go and click on the 11 ideas for an upsell offer blog, which will be in the link in the show notes go and check that out to get some more ideas.

But one idea which I absolutely love, and I think is so easy to do. If you already have a course, perhaps you have a course program that includes, you know, calls in a community, a great upsell that you could add on to this would be something like Voxer access, right? So Voxer access is kind of voice notes that you do backwards and forwards. And it's something that you can fit into your own schedule, do it your own time when it's convenient for you. But what it does is it allows your your client or your customer who signed up for your core program, yes, they'll get access to you once a month in a q&a call or a you know, a monthly call that you do with with your group program. But actually, if they are working through your content and need that extra support, and they need to access you, you could sell as an upsell, access to your brain access to your expertise and access to your knowledge, which will increase the speed at which they get the results that they want. Because they have you in their pocket almost supporting them. Now, I would be really clear here with how long you're going to do this.

So you might have to make sure you set yourself a really firm time period. So it's like, you know, if you buy this course, you and you buy the VIP upsell, whatever you're calling it right, the VIP option, and you get six weeks of access to me on Voxer. And you can message me anytime of the day or night between Monday to Friday, you know, and I will always endeavor to get back to you within an eight hour period or whatever it is, you're going to set yourself right. But it gives them direct access to you. So if they're stuck on something and they can't move on, they can send you a Voxer. And then based on your boundaries that you have set, you can support them and help them get unstuck very, very quickly, versus them having to wait a whole month until the next, you know group call or q&a call with you. S

o a Voxer upsell, as long as you have sort of set the boundaries correctly, can be a super, super powerful way of upselling charging some more money and increasing your sales off of the back of something that you have already created. So that's gonna be a wrap for today. Again, please click on the link in the show notes. Because I want you to see the upsell the upsell ideas, I think that's going to be super useful for you. And I'm going to drop the link as well for make your MVP shine because I am going to be doing a walkthrough video showing you how to do upsells and down cells how to you can follow me literally, you know step by step as I create these new products for the down cells and the new products or the upsells.

So I'd love you to come and watch and learn and to take action on this because these things will absolutely increase sales in your business.
And I totally want that for you. Anyway, until next week. Take care of yourselves. And yeah, have a great day.

Transcribed by https://otter.ai

Hey, hey! 👋 I’m Remi Oduyemi, the User Success Lead here at MemberVault.
You’ll hear me over on the Vault podcast, see me in the Collaborative, and also hosting special user success workshops.

Outside of MV, I work with established entrepreneurs and ambitious business owners who are ready to scale their business using simple systems and cool automations.

You can find my MV site here: https://www.onlinebusinesstemple.com