Increasing the LTV from your existing customers is essential for scaling your business. Especially in 2023, when cash is tight, financing is difficult, and profitability is important.
There are many different types of upsell funnels that you can develop for your business. In this blog post, I will cover the basics of the upsell funnel, before diving into future posts covering more complex Facebook upsell strategies.
The Facebook Upsell Funnel
Here's a step-by-step upsell funnel to increase the lifetime value of your existing customers on Facebook:
Thank You Page Upsell: Once you've made the initial sale, you can use ads to encourage people who have already purchased from you once to buy again. This could be a:
Promotion for a related product
Promotion for the same product
An offer for discounted items that complement their initial purchase
Invitation to sign up for your newsletter
If you are just getting started with upsells take a look at your eCommerce data and see what your data says is the second purchase. Consider starting your testing with this product as you gather more data.
Downsell: Your downsell is for those who do not take you up on your upsell offer and should be a lower-priced item. For example, a discounted item or a smaller version of the same product.
Facebook Retargeting Ads: For those who did not take you up on your upsell or downsell offer show them a Facebook remarketing ad for those product(s).
This should be a limited-time offer for 3-7 days. Test this to find the best time frame for your business.
To target these Facebook users you can create a custom audience of everyone who has seen your thank you page URL. Be sure to exclude everyone who purchases your upsell or downsell
For those who visited your downsell page, exclude them from seeing your upsell ad as they have already opted out.
For those receiving your upsell offer, exclude them from seeing the downsell offer.
Facebook Carousel Ad: After the 3-7 day time frame add your new purchasers to a Facebook carousel ad without the promo and/or add them to any other Facebook remarketing campaigns you have.
General Remarketing: After you started showing your Facebook carousel ad be sure to add your purchasers to any other list you have for Email and SMS.
Facebook Upsell Best Practices
In terms of messaging, it's important to emphasize the value of the upsell product and how it enhances the customer's original purchase.
You can also use social proof in the form of customer reviews or testimonials to build trust and credibility with your audience.
Conversion rates will depend on a variety of factors, including the size and engagement level of your audience, the quality of your offer, and the strength of your messaging and creative.
For more Facebook ad strategies and funnel maps join our newsletter.
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