12
8 Comments

How I increased my revenue by 75% with a downsell

My revenue is up around 75% this month because of 101+ ways to get new users & clients online and one-time purchases 📈

I'm about to show you a perfect example of why you should not only have an upsell but, a down-sell as well.

alt text

From the chart, you can August, September and October were all pretty stable.

This is because I had 10 clients for getrhys.com.

My MRR was consistent but, it wasn't growing.

I told myself since the start that 10 would be my max.

This was purely because I only wanted to spend a certain amount of time on consulting.

Obviously, it's great that I'm fully booked but, it wasn't exactly a scalable business.

So, I had a long hard think on how I could increase my revenue with no real additional effort.

I had a look at Google Analytics and was surprised to see I had approx 1.3K uniques in the past month alone.

alt text

I then had a look at how many meetings with new prospects I was taking on average per month.

It turned out I was taking around 1-2 calls per day.

But, of course, I was still fully booked so, everyone was just getting entered onto a waiting list.

alt text

Then it hit me, I had all these uniques and the truth is that probably 5% of them could actually afford the service I'm offering.

So, how can I take advantage of the other 95% that are not taking any action on my website?

I decided to create 101+ ways to get new users & clients online - Essentially, a spreadsheet of 101+ ways to get new users & clients.

I priced it at around 1/3 of my current service cost.

You may be thinking well, doesn't this cancel you out as a service?

alt text

Well, yes and no.

In short, if people can't afford the service, they'll buy the spreadsheet and try and action things themselves.

But, it also works the other way round, and it has, where people are seeing the sheet and it's actually adding more social proof for my services.

alt text

Anyway, here's the breakdown:

  • I added this around a week ago.
  • Purchases are coming through organically.
  • I've nearly doubled my revenue.
  • I've noticed an increase in calls scheduled.

Now, this may not work for everyone but, consider a down-sell as well as an upsell.

alt text

How can you do this yourself?

  • Selling a done-for-you package? Sell them an ebook or course on how to do it for themselves.
  • Selling a service? Sell them a taster or restricted version.
  • Selling apples? Sell them the seeds.

Anyway, I'm sure you get the point.

When a lead says no, a few days after, respond with "No worries, just so you know we can also offer you XXX"

A lost lead is lost revenue, do whatever you can to recover this and double you closed deal pipeline over the next month.

  1. 1

    Can not see the images ! The post was part of Growth Bite - and the images are gone!

  2. 1

    Hey Rhys! How is it going?

    Dropped you a message on Twitter but did not hear back from you.

    Bought your 101+ Hacks last week. Wondering what the launch date will be? Excited to see it in my inbox!

    Thanks!

  3. 1

    That's awesome. What is this tool that you use to track this? https://i.ibb.co/VJtqrSM/6.png

  4. 1

    That's cool. It's like - I've got a great product/service and I charge a lot. If you want to have a taste of my quality and try to do it yourself here are some tools or tips to help you. And they're cheap.

    Probably the clients will be back for more.

    1. 2

      You hit the nail on the head ;)

  5. 1

    Congrats on the revenue increase. I have never heard of down selling but I'll def do more research.

Trending on Indie Hackers
Indie Hackers is now an invite-only community 50 comments The Challenge: $10,000 MRR in 30 Months 23 comments +70,000 users on my chrome extension and almost no revenue. 5 comments Is there a need for more beautiful landing pages? 5 comments Spent less than $4 on a domain 4 comments "roast my ____" are full of noise, so I'm doing something about it. 3 comments