We’ve all heard about that coveted upsell. What about the potential of a downsell?
A potential that is often wasted. Most people wouldn’t even consider downsellng as a successful sales option or fear that once they start lowering their offers, things will just take a wrong turn in terms of sales.
So here, we’ll be talking about how that is simply not the case - and why downselling can be an untapped source of revenue for your IPS business.
Those extra few IPS photoshoots can add up to some decent income, no matter their size!
Any sale is better than no sale.
It’s a no-brainer. Any sale made during an IPS meeting is still much more beneficial to you than a digital sale, or worse yet, no sale at all. Having even the smallest opportunity to show your client something more means that you’ll get more out of your time if the session was meant to be small to begin with.
This can be as simple as having something like fine art prints at the ready - just to have a basic offer for those who would otherwise go digital only - or as subtle as having a smaller album size available than what is usually offered, but not revealing it initially.
The premise is quite clear - you are giving yourself one last chance to get the client on your side if they are being too peckish to go for your main packages.
You'll get more out of a print sale than a purely digital offer. This works best if your clients are skeptical of anything other than digital files and you price your pure digitals higher than your base offer.
A DOWNWARD sales trend? Yes, way!
The initial return on your time’s investment may not be obvious initially but think about the big picture. Even if it is a smaller-than-usual sale, the effects of having one made are still there - the word of mouth, social media shares, the chance that some of your client’s peers will see that product and may even come to you for the full package.
Likewise, if those peers ask for a similarly sized product, the process repeats, still putting you out there in other people’s minds. Perhaps those who opt for a smaller package will fall in love with it and return for the main offer at a later date. You already established that point of contact with them, making future sales almost inevitable with some of those clients.
It already sounds like a better deal than no deal, right? Suddenly, what would have been just a shoot-n’ burn client becomes magnitudes more.
Your clients will be more willing to return for future shoots once they get to bring the quality that you offer home.
All right, you get the idea. Now, ideally, to make the most of it, you would want to combine this notion with some upselling - for example, by offering a discount to all returning clients, greatly increasing your chances that those who settled for a small package will return. Perhaps even presenting an opportunity to upgrade the minimal package, e.g., by adding an extra few prints. This also allows you to cover more price points.
Pro Tip: Try to avoid downselling your main packages on the spot through discounting and use budget packages instead. This ensures that your clients don’t get rewarded for saying “no” to your preferred options, which can actually hurt your sales in the long term.
When should you use it?
Downselling can also become a standard part of your sales strategy. Present a higher-range offer first and then offer a middle-range one as something that most would be willing to go for from there, thus increasing your chances of finding the sweet spot for your client.
Of course, the vast majority of folks will find the benefit of downselling to come through on a case-by-case basis. It doesn’t have to become the standard with every sales meeting. Not everyone is on-the-line about getting a print product, so oftentimes, it’s something you will simply have to attune to if you really think that it’s an offer that the client would enjoy.
Suitable downsell products
Here are some noteworthy downselling paths which may give you an edge during your next sale!
1. Complete Album Set -> 8x8 PHOTO Album
This one immediately comes to mind - you still get the beautiful quality and benefits of a nPhoto Album but with a smaller, more affordable size option. What’s best is that even this can be reduced yet again down to a 6x6, giving you that one final fighting chance if you think it’s worth your time.
2. Folio Box -> Fine Art Prints Bundle
At its core, the most essential thing about the Folio Box is the prints themselves - so by going into Fine Art Prints, you are retaining that most essential part alone while still delivering some beautiful photos. You still have the option of adding in a box, but it won’t give you as many customization options as the Folio.
3. Acrylic Print -> Triplex
A bit of an unconventional move, but it makes lots of sense if considered - Acrylic Prints, a type of wall decoration, could essentially have that core purpose of serving as a decoration fulfilled in the form of a Triplex spread open on a shelf. Not to mention, the Triplex now has the option of using an acrylic finish, so you’ll have that covered too.
Endless combinations could also be used, but you probably already get the gist of it. It’s still important to tune it to your existing offers instead of creating new ones to fit the purpose of downselling alone.
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Still interested in learning more? Try our posts on upselling and cross-selling if you haven’t yet seen them!