Imagine a fish swimming upstream. There are several fish in the world that do this, the most easily recognized would be salmon. Imagine how hard they work fighting the current to get to their desired location.
This is what happens when you upsell. You’re fighting against gravity working to pull people up your offer ladder. Instead you could be down-selling. Present your highest tiered offer first and then slowly but surely step people down and show them what happens as the price points fall away.
I’ve worked very closely with Jack Canfield, the author of Chicken Soup for the Soul, and during one of our last recessions he needed to re-evaluate his business model. Now Jack is not a natural salesman. He is a teacher. Getting him into the habit of making the offer was difficult, but it was made much easier by down-selling rather than upselling.
I’m sharing the step by step process you should use to downsell and why it is so much more effective than upselling. You’ll learn:
- What “down-selling” is defined compared to the upselling model
- Why “down-selling” is easier and works faster than upselling
- How “down-selling” is applied when prospecting, step-by-step
People love to buy things, but they hate being sold. When you upsell, you’re constantly selling people on why they should elevate their purchase. As you downsell, you’re simply presenting them information and allowing them to choose. It may surprise you how many people opt for your higher priced offers simply because you found a way to better reveal the value of that offer!
In This Episode:
[01:33] - Hate selling? Then this podcast is for you!
[05:03] - The three key insights you’ll learn in this episode.
[06:44] - How down-selling versus upselling changed an entire business.
[09:40] - Why Jack and Alex started working together.
[11:49] - … then Clear Path Consulting was born.
[12:28] - The difference between down-selling and upselling.
[15:36] - What is a funnel?
[17:03] - Why Alex flips the funnel and downsells instead.
[21:05] - There is no motivation when you’re upselling.
[23:11] - As you down-sell you simply remove benefits as you go down the value ladder.
[26:55] - Easier and faster to down-sell versus upsell because it’s organic.
[29:24] - How down-selling works… step by step.
- Identify your offer price levels
- Flip the funnel and go high to low
- Put a 15-20 minute video on confirmation pages with a top down view of your business
- Sell via “take-aways” not “add-ons”
- Divulge the entire ascension model
[37:20] - A quick recap of “how” to upsell.
[39:09]] - The Alexism is, “Don’t stress over setting goals you don’t achieve because they are too high. Be more concerned over goals you achieve set too low.”
[39:44] - Hear a quick review of the key insights in this episode:
- What “down-selling” is defined compared to the upselling model
- Why “down-selling” is easier and works faster than upselling
- How “down-selling” is applied when prospecting step-by-step
[40:50] - If you’ve already given Alex a review, write down your biggest takeaway from this episode on an index card. If you haven’t, though, please use that Aha! moment as your review for the show at this link!
[42:57] - In honor of this episode, Alex gives listeners a final gift. You can get a 30-day free test drive of Kartra.
Links and Resources:
Alex Mandossian
Alex Mandossian Fan on Facebook
Alex’s Friday Live events
MarketingOnline.com
Marketing Online 4-Part Video Training Series
Alex Mandossian on YouTube
Alexisms by Alex Mandossian
All Selling Aside on iTunes
Alex Mandossian’s free live Friday show
Jack Canfield
The Success Principles by Jack Canfield
Chicken Soup for the Soul by Jack Canfield
Clement Stone
Think and Grow Rich by Napoleon Hill
Zig Ziglar
Dan Sullivan
