There is no better time to start a business, whether you're an entrepreneur or a solopreneur, the opportunities are endless. Throughout the year, there are many moments merchants can utilize holidays and special events to create amazing campaigns that lead shoppers to your business. With the right strategies you can entice customers to shop with special deals and unique products.
The global ecommerce market is expected to total $4.89 trillion in 2021, with ecommerce taking up 21.8% of total retail sales. Leaving an opportunity for Shopify merchants to capture their market as more consumers shop online.
The secret to success on Shopify is to create and set the right strategies in place so that you can ensure your customer has a great shopping experience with the right products. Through upsell strategies and the right tools, you can create a personalized shopping experience that can lead to a deeper relationship with the customer and increase the customer's lifetime value.
According to Oberlo, "the probability of selling to existing customers is 60-70%, while the probability of selling to a new prospect is 5-20%." That is why it is important Shopify merchants have upsell strategies and the right tools in place. Lucky for you, we've compiled 3 top-performing upsell strategies for your Shopify store.
Capitalize on untapped real estate above the "add-to-cart" button to display dynamic messages related to stock, shipping, promotions, reviews, product details, and more. Similar to the post-purchase upsell strategy, you can choose specific products you want to show your message on, individually or dynamically through Tags and Collections.
This is a strategy we like that converts site visitors without distracting or interrupting their experience on your Shopify site. Best of all...it's happening during the customer's buying journey.
This upsell strategy enhances the visual aesthetic of your product pages and guides customers through to conversion and increased AOV. The Because Shopify app does this really well, and without code (even better).
See an example below:
This strategy can help to reduce cart abandonment by displaying relevant information and giving all the details to a customer before they click "add-to-cart."
This is an awesome strategy to pair with the post-purchase one above to make sure you cover the entire funnel while giving your customer all the information on a specific product upfront.
When done correctly with a clear strategy in place, post-purchase offers are a great upsell strategy. After all, it's much easier and cost-effective to upsell to existing customers, than to acquire new ones.
Customers trust you enough to purchase from your store and give you, the business owner, a perfect opportunity to connect with them. When a customer purchases a product, you can prompt them with additional offers on other products immediately after purchase. These post-purchase offers are all happening while the customer is still in your store, so there's no need for them to check their inbox or get an interrupting text message.
Make sure your upsell strategy is personalized to each individual customer experience.
Post-purchase funnels, in general, see a 15% conversion rate and lead to customers discovering new products, as more look to shop online and from independent retailers. An upsell strategy keeps your customers on your site and returning for more.
That's what we like to see! After all, "half of consumers look for independently-owned businesses to support."
Seven out of ten online shopping carts are left without consumers ever moving on to purchase; that means 69 percent of all online shopping carts are abandoned. Absolutely wild to think of the missed potential.
One common upsell strategy that can increase the number of consumers coming back to your site is... a strategic email follow-up flow. An email follow-up flow targets your customers even further if they have purchased a product or abandoned their cart, yet signed up for emails. These email flows can give an upsell offer, pair certain products together, or just nurture the site visitor for a potential return to your brand. You can build a successful welcome email series or simply introduce your brand.
According to Shopify, during BFCM, more than 44 million consumers globally purchased from independent and direct-to-consumer brands. Consumers are searching for independent brands that have a mission and story behind their products. Email follow-up flows are a great opportunity to connect with your community of potential customers. A series of email flows can help build your brand, increase targeting to the right customers, and ultimately showcase your business.
Another secret to success on Shopify is that merchants don't have to do it alone. Through tools and the right strategies, merchants can compete on any level with any brand. The probability to sell to existing customers is 60-70%, the opportunity to capture consumers into an upsell is there with the correct strategy. An upsell strategy complements the entire customer experience from landing on the first page to the final purchase.