Tag: Upselling

The Greed Factor In Selling 🤑

Posted on by brianjpombo

Podcast: Play in new window | Download

Why greed can play a factor into success with upselling.

Transcription

The greed factor in selling.

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

Today I got to see the greed factor in motion I call it the greed factor, I made that up. It’s just the idea you probably heard about this before if you’re involved with any type of business, is that when people are buying.

They continue to buy when they’re in that buying zone.

That’s how it’s usually understood or explained. I think it’s beyond that, and I’ll tell you a little story about this because my daughter, Alexandra, just turned five today and her birthday, okay.

We started off the day and had my wife has all these things lined up, you know, the cake and all the rest and we give her her present.

She’s just beaming. She just loves this present.

She’s just really getting into it probably too into it, you know how kids are. And afterward, she said, Well, I’ve got this money saved up, She’s five years old, right. And our kids, when they’re done with their toys, we let them sell them to their friends or sell them online.

So that they build up a certain amount of money. We’re trying to teach them how to how to deal with money and also make the mistakes with money as early on as possible, you know, understanding how to spend too quickly and all that.

She has this money, she says I want to get this other thing that goes along with this gift, and I want to do it today. Well, it just so happened that it worked out with our schedule, that we’d be able to go to the town, next town over where some of the larger stores are at and take her in and go have her purchase something else.

But you could see this, it’s not as much a buying thing. We always refer to as a buying thing, especially when we’re talking about Christmas and so forth.

We say, you know, when a person’s buying, they just want to keep buying, they want to keep going they’re okay with moving that money.

I think it has more to do with greed. I think it has more to do with that gimme, gimme, gimme concept.

Every time I think about it, I think about the Garfield Christmas special if you’ve ever seen it, the one from the 80s, where the very beginning of the episode, he’s dreaming, and he dreams that John got him, this Garfield I’m talking about, Garfield is dreaming that John got him this machine that reads your mind.

You sit on it and like sitting on a giant robot, Santa Claus, and the Santa Claus hat goes on your head, and it reads your mind.

Whatever you can think of will pop out of this bag, that Santa’s bag there and all pop out. It’s a machine that does this.

He just keeps thinking and thinking more stuff. And it just more and more and more. So there’s no end to it.

There’s no end to the to that give me, give me, give me the song goes gimme, gimme, gimme, gimme, gimme.

Everything just keeps coming up and coming up and coming up until he wakes up. But that’s the idea about people, there’s no end to want. There’s no end to greed, but good and bad.

There’s just no end to it, it keeps coming, you’ll always want more the more you want, the more you want, the more you want.

It’s a very interesting phenomenon to see that in motion when a person has tapped into that part of their brain, where they just want more and more and more of the same thing or have similar things, completed collection, everything else.

It keeps going and going and going.

This is something to understand about yourself. Because if you could watch these, these drives that we all have to one extent or another, you can moderate it.

But also it’s something to know about your customers. And you shouldn’t stop offering more, just because you think that they’ve had too much, or you think that they can’t possible that they’ll be offended if I even offered a throw in something else.

It’s that whole idea of the upsell and all these other concepts that get linked to it, allowing a person to purchase as much as they possibly can or as much as they possibly want to is useful.

It’s helpful, and especially if you offer, you know, money-back guarantees and things of that sort, then there’s no reason why you shouldn’t they can always return it right?

As long as they haven’t used it.

So think about these things. Think about the psychology of yourself and of your customer and you’re going to have a better overall system for health being produced the most for the most amount of people. And that’s what life’s all about.

A huge piece of it is at least, especially if you’re looking to move ahead financially and so forth. I’ve got a whole book on general ideas in terms of strategies that you can use within your business to make yourself competition proof on top of everything else.

My books called, 9 Ways to Amazon-Proof Your Business. You can get it over at Amazon.com If you’re new here, my name is Brian J Pombo. Type that into Amazon and the book will pop right up.

Or you can get a free download copy if you don’t mind reading off your phone, tablet or PC. Free Download copy at AmazonProofBook.com

That’s all I have for tonight. Hey, subscribe, like follow wherever you’re listening, watching this, and I’ll be back on a regular basis just about every night.

We’re back here with a new episode so you have a good one. See you tomorrow.

Get out there and let the magic happen.

Taco Bell: Taco Lover’s Pass 🌮 (Subscription Models and Upselling)

Posted on by brianjpombo

Podcast: Play in new window | Download

Thoughts on subscription models, tripwires and upselling.

Transcription

Taco Bell’s, Taco Lover’s Pass.

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

I can’t believe it. This is a really interesting concept, especially when it comes to business.

So this is a show where we talk to people who are business owners when people want to be business owners or people that are at least executives within their business.

You’re the movers and shakers, the ones that really make it work from top to bottom.

And I wanted to talk about this concept of the Taco Bell that the taco pass created by Taco Bell.

Look at this, look at this article that I came across this was this particular one was in USA Today. There were a lot of people that talked about it but it basically says you pay $10. And you get, I believe, 30 days of tacos.

So you get a taco a day. But you can go every single day into Taco Bell and get a taco for $10. And I think it limits it to one a day from my understanding. But this is an interesting, really interesting concept, I want you to see it first from the consumer end, and then look at it from business owners’ end.

So from a consumer end, there are a lot of people that I know at one time, at one time in my past, I was eating from Taco Bell on a regular basis.

I would have gladly paid $10 once to have a taco every single day.

No problem whatsoever.

And it’s a done deal for people who are hardcore Taco Bell people.

How do you go wrong and how does Taco Bell go all this time or any restaurant that you know of without offering subscriptions?

Subscriptions work in just about every single place you could think of I have not found a business yet that you cannot somehow tie a subscription to if you can’t, that business has other issues that needs to be that need to be fixed.

But there’s no reason why you should not be able to have a service or a product that can be offered by subscription. Any fast food joint can easily offer a similar deal.

And why not?

Why not make it renewable to where every month that automatically charges you another $10 and tries to bring you back into Taco Bell more often than they would have otherwise.

How many people are going to pass up Taco Bell when they have a subscription?

You could take Amazon Prime, you could take anything, and there’s so much magic to the concept of a subscription.

It’s unbelievable that most businesses don’t take advantage of it.

Go check out this book, the automatic customer.

I’ve talked about many times, I don’t have a physical copy in front of me. So I put up this picture.

This book is incredible.

It’s the best book I’ve ever read on subscription model, whether you’re talking about a membership, whether you’re talking about what would be considered a traditional subscription.

Everything that came from magazines and everything else, all the way down to when you’re talking about Netflix, whether you’re talking about Amazon Prime, whether you’re talking about all the other things that you pay for on a monthly basis, I know it’s driving a lot of people nuts, because like I’m paying for everything on a monthly basis.

It’s true. But we’re also offered more things that we’ve ever had in the time in our life, that you can have access to any I mean, just rewind things back 1015 years ago, for those of you who have the memory for that.

Imagine saying at one point, you’re going to pay one price and have unlimited, virtually unlimited movies, there are more movies on Netflix alone than you can ever watch in a lifetime.

What’s currently on there, and they’re putting new stuff on there. Sure they’re taking other stuff off, but at the same time, there is more on there than you could possibly ever get to.

Yeah, you may not find all the stuff that you want to get to right away and that’s a whole nother issue.

This is why people don’t only subscribe to Netflix, they subscribe to Hulu, Netflix, Amazon Prime, all these different spots HBO Max, you know, Disney plus, I mean that it’s endless, all that that’s only when we’re talking video cut mainstream video content.

That’s all we’re talking about here, all alone, everything else in your life that can be bought by subscription.

Now, subscriptions will overrun an industry like that to the point to where people are going to start cutting back but that increases quality it causes the people that are offering these things to offer higher quality stuff over time and offer more creative subscription models.

This is only a good thing. It’s good for the consumer. It’s extremely good for the business owner. Now, from the business owner perspective, you’ve got to look at this.

You have consistent payments, and you’re saying, Yeah, but what about the people who take advantage of it, and you know, that you pay 10 bucks, but they’re taking a taco every single day.

For one thing, that person is very, very, very unlikely to be there. They’re, it’s very unlike even if they went and took the taco and gave it to somebody else, it’s unlikely that someone’s going to come every single day.

But here’s the other thing.

Who is going to go to Taco Bell and buy a single taco and nothing else for 30 days straight?

I guarantee you 99% of everyone that goes and gets a taco is going to get something else, they may just get another taco, they may buy one of those giant tankers full of soda, they might they may get you know all the other things that because a taco is simple, it’s small.

They know you’re going to want something else. So all they got to do is get you in for the taco, and they’ll get you for everything else. Is it tricky?

Yeah, it’s tricky but it’s up to you on whether you want to pay for it or not.

You could cancel at any time type of deal, right. So that’s the magic of the subscription. It puts both parties in a in an area that is useful, at least in temporarily, I don’t know how popular this is going to be over time.

I applaud Taco Bell for trying something new look at all the attention that they’re going to get from this.

Having this applying the subscription model to an industry that does not have a subscription, or does not have a very well-known subscription, and it is brilliant.

So I applaud them and I implore you to think about how a subscription model can work for your business. I love this idea. I talk about it a lot. I’ve got a whole chapter set aside specifically for subscription models in my, 9 Ways to Amazon-Proof Your Business.

It’s one of those things you can do. You can literally copy Amazon, and you but you can outdo them in a way of the subscription model, which I talk about in here, 9 Ways to Amazon-Proof Your Business you can go buy a copy on amazon.com, Barnesandnoble.com or anywhere you get your books, or go download a free copy if you want AmazonProofBook.com.

AmazonProofBook.com.

That’s where you can get a copy of this book. I’ll be back tomorrow. In the meantime, get out there and let the magic happen.

Why UpSell? ⬆️💰 (Increasing Sales Conversion Rate)

Posted on by brianjpombo

Podcast: Play in new window | Download

Oh those tricky, nasty, greedy salesmen and how they’ll have the nerve ask you to buy more. 😕

Brian talks about why we should be all those things and upsell on the regular. 😀

Transcription

Why upsell?

Hi I’m Brian Pombo, welcome back to Brian J. Pombo Live.

I want to talk about this concept of upselling. Alright, upselling, if you’re not familiar with it, it’s the term of the idea of when you sell something, somebody that you offer to sell them something else after they bought.

That’s in general, that’s how upsell upselling is referred to, and this happens a lot online.

I’ve known a lot of people that complain and complain and complain about this. There’s only one reason why upselling is done so often online. It’s very simple. It works, okay.

People don’t buy things that they just don’t want. If you don’t want it, you tend to not buy it, whether it’s being up-sold or not, that you’re not unless you’re just hemorrhaging money, and you’re just looking for a place to put it.

Even in that case, I mean, is there anything wrong that someone’s offering to take the money off your hands, they’re offering you something in exchange for it?

It’s not like they’re saying, hey, just give me some more money. You know, you want to, you know, they’re not saying that an upsell, is you’ve bought this.

Would you also like this?

How about this?

That’s all an upsell is, in, a lot of people can look at it as sleazy or tricky or whatever, there is a mentality that goes along with the process. A person and here’s how it’s described most of the time is that a person that has bought something has already broken down most resistance to parting with their money.

They’re in buying mode, there’s a difference between being in buying mode, and be out of buying mode and having to be convinced to go into buying mode, it’s like two different parts of the brain.

Once a person’s in buying mode, they’re more likely to buy the next thing where if you would have started with the, with the second thing first, they may not have gone for it, but because you started them off with one thing, and then said, Well, how about this also and sometimes they tie together.

Well, and sometimes that, you know, hey, you’ve bought the pool. Now, here’s a patio set to go with it, or what have you.

Sometimes they tie together.

Well, sometimes they don’t.

But the plain fact of the matter is, if somebody wants it, they’re going to buy it anyways.

If you can offer it to them great. Quite oftentimes what happens online, especially with information products, if you’re selling an information product online, or some type of digital product, the person isn’t necessarily getting everything that they want with that one product.

So why not try and sell them more, the worst thing they can say is no. And people do people turn down upsells all the time.

So often, you will hear if you go and listen to podcasts from some of the largest companies and marketers out there online today. And online is one of the most unique that it’s one of the most common places I meant to say common.

One of the most common places that you’ll see the upsell done in a very straightforward linear fashion. And one of the things that you hear over and over and over again, is that they don’t make money off that first purchase.

They make money on the back-end sales that come after and sometimes those back-in sales are up sales immediately offered after the initial purchase.

So they’ll offer a book, and they’re losing money on the book or some type of product right up front, that they’re losing money on.

They’re losing money because it costs too much to advertise it. Because it costs too much to produce, it costs too much to ship, whatever it is, they’re losing money on that first product, that whole concept of being a loss leader, that happens all the time.

If you have upsell available, it’s everyone doesn’t have to purchase. But the percentage of people that are able to purchase those upsells make up for the losses and so the whole campaign works in the long run.

Also you have a connection with that person, a person who has bought from you You have a connection with for a long period of time, especially if they love what it is that you sold to them. So you really have to consider upsells, especially when you’re talking con when you’re using content marketing to bring people in, you have to, it’s almost a mandatory thing, you have to offer them a little more than just the minimum.

That’s the way you have to think about the initial, the first initial sell is nothing more than a minimum purchase. After that, give them a couple of other options, give them more, no matter what you purchase out in the real world, especially to have high ticket level, if you’re going to buy a car, they’re going to have options that can bring the price up.

But you don’t see it as just them looking to raise your price there you’re looking at?

Well, yeah, I would like power windows, you know, I would like air conditioning, I would like, you know, these options that they tack on their extra, you don’t have to take any of them.

But if you want to you can and if you consider those things almost mandatory, then you you have to, you have to go with it, you have to purchase after the that when they’re offered an upsell.

So you have to see it from both sides.

But if you’re a business owner, or you are one of the people in charge, think about the things that you can add on not just to gain more, but to make their experience better.

If you can make their experience better by giving them more that they can purchase, that that’s a win-win. And so it doesn’t matter what industry you’re in, if you were dealing with any part of the sales process, find more things, you can sell them right away, the happier they are, the better off you are.

And you better be selling things that make people happy. Otherwise, you’re not going to stay in business for the long run. Hopefully, that makes sense to you.

If you’d like some more strategies, here’s an upsell you’ve already watched. If you’d like some more strategies, I’m going to give you something else that won’t cost you any money, 9 Ways to Amazon-Proof Your Business.

It’s absolutely free, you get a digital copy at AmazonProofBook.com.

Now when you go there, and you download this, I’ve got an upsell the upsells for a physical copy. And for the audiobook version, which we’re still not done with yet but we’re going to come out with that audiobook version.

We’ll be sending it out to everybody that purchased the physical book, and you get a couple of other freebies in there. And I’ll be offering more freebies in the future. I’ll tell you this stuff that isn’t even included right off the bat, you’re going to be receiving stuff that no one else receives.

So, 9 Ways to Amazon-Proof Your Business AmazonProofBook.com we’ll be back here tomorrow night. In the meantime, get out there and let the magic happen.