CUSTOMERS CAN TAKE MORE
IT IS one thing to ring up the sale, quite another to maximise income from the transaction. Fundamental to profitability is upselling: persuading customers to buy a higher-priced product or service and to add something extra. Upselling is not just about money in your till. It can help customers to solve their purchasing problems and obtain what is best for their purpose.
Maybe a new computer system is being inspected. But does it have sufficient storage capacity? Has it enough connections for peripherals? What new software will be needed? Shouldn't it be installed by a qualified technician? What about operator training?
Classic upsells include: “Buy one for the home and another for the office" and “Thanks for your order. By way of appreciation, enjoy our superwidget at 10% off, using the enclosed coupon."
Usually, the upsell works best when the offer you make is something similar to, or associated with, the original item or service.
It is relatively easy to build upselling into the process. For instance, bundle several products or services together, dropping the aggregate price; or offer discounts on larger quantities; or develop new after-sales options, such as extended warranties and maintenance plans.
VALUE
People are comforted to feel they are saving money and obtaining best-available value. This is not only about sales. It’s about service as well. When a customer calls to make a purchase and you offer them a better or more appropriate alternative, you are fulfilling additional needs. You’re providing a worthwhile service.
Surely, you will know your product lines and their qualities better than customers could do, placing you in an ideal position to help (as well as sell). You will understand their needs and can make informed recommendations.
By listening to what the buyer has to say, you can identify current and future needs. Listen between the lines to what is being implied. Confirm that you understand their wish-lists or turn-offs. Show that you are aware of the critical issues. Solve tomorrow's dilemmas as well as today's problems.
You might recommend products and procedures that other customers have told you work particularly well. You could cite past successes. Value rather than price should be emphasised first. And you will always speak the language of benefits rather than features.
PROFITABLE
Upselling should be to the fore in every business. It is well documented that multiple retailers and fast-food outlets have turned the art into a profitable science. “We’ll give you a third one free when you buy two.” ”Would you like to try one of our new recipe biscuits with that?” “This goes really well with a side salad.”
Customers can take more and are likely to be pleased when you give them the opportunity to benefit from a bargain.
If you have played your part professionally they will come back to you, again and again. You may well be doing them favours, or at least perceived as such. That is what long-term relations are built upon.
Be genuine in what you offer and creative in how it is presented. Then you will be able to upsell consistently.
