How to Upsell Customers with SMS/MMS?
From VoIP.ms Wiki
In the age of digital marketing, it is imperative that businesses start leveraging the power of SMS marketing for driving business growth. Businesses cannot survive without consistent growth. Yes, customer acquisition is important. But serving the existing customer and providing them value is equally important as well. By providing more value to the existing customers, businesses can create a new revenue stream to fuel the growth of their business. In this article, we will discuss how companies can make use of SMS/MMS marketing to upsell customers.
Another way to increase revenue for your business is to notify your existing customer regarding new product launches. Upselling to current customers becomes even more important especially when the probability of selling to existing customers is 60% - 70% as compared to 5% - 20% to new customers (1). Ask your current customers to give their feedback on the new product through SMS marketing. And if they like your new offering, they might even upgrade to the new product.
Due to the very nature of hotels, having the customer phone number is much easier for hotels than other types of businesses. Therefore, it makes all the sense for hotels to make use of SMS marketing to upsell their services to existing and new customers. For instance, hotels can send SMS to guests for upgrading rooms at a discounted price right before check-in. Who wouldn't want to upgrade from a standard room to a suite for an additional small amount, right?
Upselling through SMS marketing is an excellent way for subscription-based businesses to increase their revenue. Most of your subscribers are most probably on the monthly plans. Therefore, as a business, you can upsell them to opt-in for a discounted annual plan which will save them a lot of money. On the other hand, your business will experience a reduced churn rate and improve cash flow. Your customers will enjoy the additional savings and your business will enjoy the upfront revenue to fuel your growth plans.
While upselling is a great way to boost revenue for your business, it is important to make the upsell relevant. Avoid being pushy, otherwise you can even risk losing your valuable customers. Timing is the key to the entire upselling process. Having said that, VoIP.ms is offering SMS/MMS marketing capabilities that you can use to take your business to the next level.
Reach out to our sales team at email@example.com to help you with your upselling project!