The Upsell
Do you know what an upsell? Most of us do and don't even realize it. Have you ever been to McDonalds and bought a burger, and then the server asks if you would "like fries with that?" Yep, that’s is an upsell!
They are pretty easy to spot.
Here is an example from the online marketing world.
In the online marketing world, you can upsell your customers with other products of interest as well. Did you know that when a person buys a product, there’s up to a 50% chance that they would buy another product if the product complements your existing product line and they have the cash budget for it?
This is where videos come in. You can double your profits using videos by using them as an upsell. As we all know, videos have a higher perceived value and can often be sold at a much higher price, because they are more expensive to produce. You can even increase your profits by turning your videos into CDs. The fact that the product is physical makes the perceived value even higher!
You can sell a video as an upsell to an e-book, audio course, or bundle them together with the e-book and sell it for a premium price. Videos can also increase your profits through helping you market existing products. This is done through the power of viral marketing. The more viral and sticky the content of your videos, the more people are willing to share them and this can help you grow your business faster easily.
You should always bundle existing products with a video version, because people respond better to video products and they have a higher conversion rate compared to conventional e-books or other content. This makes this strategy a no brainer. Don’t leave money on the table!