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As the year winds down, you’ve got a prime opportunity -especially those of us working in the SaaS field, to capitalize on upselling.
The end of the year is a strong, actionable signal for salespeople as unused budgets need to be spent and accounting has to be optimized.
It’s about leveraging this period, using the sequences we’ll discuss in this article, to make the most of this upselling opportunity.
La Growth Machine is your ally in this endeavor. Let’s explore how you can harness the power of automation to enhance your end-of-year sales strategy.
A simple campaign with a unique copy for everyone:
Let’s get right into it! 👉
No need for a complex sequence with webhooks or anything like that, a quick multi-channel campaign such as this one will do the trick just as well!
It’s a simple 1-2 sequence that focuses on email outreach, and we fall back on LinkedIn when needed. 🥸
Why Email first? 🤔
Email ensures you reach 100% of your target audience. These are your existing customers, and you likely have their email addresses. LinkedIn, on the other hand, requires you to be connected with the person, which limits your reach.
It’s also worth noting that we already have an existing relationship with the clients we try to upsell. They’ve been here for some time now so, they’re familiar with us, they’ve interacted with us, they’re not plain cold contacts.
Then, we follow up with a LinkedIn nudge. It’s personal. It basically signals to the person: “Hey, this isn’t automated. I’m here and want to talk to you.”
And even though it IS automated, it’s effective. 😉 It’s about that kind of personal touch that puts the recipient at ease and has them engage in conversation.
Let’s check out the copywriting in more detail:
Upsell message template:
Your message should always revolve around the idea of mutual benefit. We’re happy because we secure extra revenue or get pre-paid, and the customer is happy because they get a substantial discount.
DO NOT beat around the bush, there’s no use! ⛔ When it’s about cash flow, be frank, straightforward, but always keep the personal touch IN, not out.
Here’s what that looks like in our case:
What does the customer receive?
Here’s the message typed out for the lackadaisical among our readers. 😏
Hey {{firstname}},
{{customAttribute1}}
- 1 to 2 identities: 2 months free – the SaaS classic
- 3 to 5 identities: 20% discount
- 5+ identities: 30% discount
- 10+ identities: let’s dream together :))
{{customAttribute3}}
When you initiate conversation like this, the response will likely be, “Oh, I hadn’t considered that, let’s talk.” Or, “I didn’t see the value when I first tested it, I’m interested.”
That’s your cue to open a dialogue, “Maybe you didn’t see it from this perspective, or did you check out this feature? Let’s hop on a call, and I can show you what you’re missing.”
But there’s no point in pushing a product they don’t need. People don’t buy what they don’t use. It’s that straightforward.
Final Thoughts:
Upselling, particularly during December and this period in general, is incredibly effective due to the budget surplus phenomenon. As the year ends, companies often have leftover funds they’re eager to utilize to secure a similar or increased budget for the next year.
Accounting/ Taxing rules also play a role. For businesses with a profitable year, it can be beneficial to allocate extra budget towards prepaying for 2023 licenses, thereby optimizing expenses for tax purposes while preparing for 2024.
At LGM, we capitalize on this opportunity by reaching out to our clients with these considerations in mind, often securing annual contracts, especially with our more reserved clients. 💰
The results are clear: our targeted approach, particularly through LinkedIn, consistently yields a high response rate. And even better, in 2022, we signed 21% of our ARR at this time! 👀
Personalization is crucial. Aim to craft messages that resonate with the client’s specific situation, their loyalty levels, their license usage, etc.
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