When I downshift (and please don't start a new thread about downshifting is bad) I ease on the brakes, pull in the clutch, kick it down a gear, and smoothly release the clutch.
A dude at work told me I should "blip" the throttle when I'm braking to match the engine speed. I know motorcycle racers pop their wrist back when they're coming up on a sharp turn ... is that blipping? If so, what exactly is being done? I mean in terms of hands and feet, what is being done?
The whole idea is to match rpms of the engine to the new gear. Seems you do everything right, and it seems that when you release the clutch your rpm's match pretty well, otherwise you would've noticed.
From that, I also assume that you downshift at pretty low rpms to begin with.
If you downshift at let's say 7k, and just ease on the clutch without blipping the throttle, you would feel the bike lurching back. That's because the rpm should be let's say 8.5k for that lower gear to sustain the same bike's speed, but nothing brought the engine speed to that rpm range.
Generally, it's a good habit to blip the throttle (1/8 - 1/4 quick turn, and then back) just before you engage the clutch back.
Another way of doing it is to just leave the throttle at whatever position it is in (assuming you are on the gas, not completely closed). Ease the clutch just a touch, so the revs go just a bit up (load on gears is reduced), then click it down, and release the clutch, and then crack the throttle open just a bit to increas the rpms for the new gear.
Yet another way (clutchless), is to do the following at the same time (assumption is you are on the gas): quickly close the throttle a little, and click it down, and immediately open the throttle back up, and even a bit more.
I personally use regular technique, as there is simply no need most of the time to do anything more advanced. However, I do practice other methods consistently, and once in a while it comes handy.
The key in all those exercises is to make any shifts smooth regardless of the method, with the least bang on the tranny.
Practice whatever you feel works for you better, and you will feel when it's done right.