2 mins TO READ
What are you doing to get the most out of your digital marketing funnel in 2019?
Funnels aren’t static. They are living, breathing systems. And there is always room for improvement.
Take a look at this amazing video from Neil Patel about how digital marketing will change in 2019.
If you’re running an SME in Switzerland, this is even more important. Local markets are small and competition is stiff. A 1% increase in conversion from your marketing funnel can make the difference between making a profit or running a loss.
The HBR found that it’s 5 to 25 times more expensive to get new customers than to keep old ones.
This is why inspired by Neil, we’re digging down into what you can do to get more out of your marketing funnel in 2019!
We’ll look at some advanced strategies that will turbo-charge your digital client acquisition and leverage it for better results, including:
- Up Sales
- Cross Sales
- Down Sales
Pro Tip: Keep in mind these methods will help you leverage an existing marketing funnel in 2019. You have to have the basics in place before it makes sense to apply the strategies in this article.
Up Sales – Offer Your Customers Something Better
Have you been to McDonald’s lately? If you have, I bet the following has happened to you…
You popped in for a quick bite of something unhealthy. As the cashier is ringing up your order, she asks you “Would you like to up-size that?”
Congratulations, you have been upsold!
Up-selling is the process of enticing a customer to buy more.
To get the most out of an upsell you’ve got to present your customer with more. This could be a newer, bigger or ‘better’ version of the product or service they are looking for. So add a premium or deluxe version of your product to your marketing funnel in 2019.
People always want the best (if it’s in their budget). Clever upselling ‘hacks’ this mindset to increase the size of orders.
Cross-Sale – Expand Your Marketing Funnel Offering
Cross-selling encourages customers to spend more. How? By suggesting that they buy a different but complementary product or service.
Online retailer Amazon is the master of this. They always include a category called “Frequently bought together…” below every product listed on their site.
The key is to make sure that your cross-sale offer enhances the value of the original product or service.
Down Sales – Save The Sale When Customers Back Off
Down sales come into play when a customer decides to back away from buying your products or services. When that happens, you offer them a cheaper version of your product or service with fewer benefits.
This means you have to understand your customer’s marketing persona. You’ll have to strip your offer of premium features, but make sure it’s ‘good enough’ to meet customer needs.
The goal of down sales is to get the customer. You then have the opportunity to upsell to them in the future, even if you’ll not make as much profit off them right away.
To go beyond the basics with marketing funnel in 2019 you need a down sale.
Once a prospective customer is gone, they are not coming back. So put a down sale offer into your funnel and capture them today for growth in the future.
Simply running and growing your marketing funnel in 2019 is not enough. You need to optimize it to get more out of the customers you’ve already got.
Including up sales, cross-sales and down sales in your marketing funnel will help you leverage them.
This will translate into bigger orders, happier customers and more money for you through your marketing funnel in 2019.
Have you ever used an up-sale, cross-sale, or down sale? Was it helpful? Did it get you the results you were looking for?
We’d love to hear what’s worked for you in the past or what you’d like to try in the future in the comments below.