Selling techniques like up selling, cross and add on selling as well as down selling can help boost the average number of customers and higher profits.
Up Sell:
This can be done when you have a basic and deluxe version of a particular product. It works by selling your customer a more expensive version of the product they’re looking at, based on its benefits. When up selling it’s important to explain how the more expensive model will better suit their long term needs.
Here are some useful hints and tips on up selling:
- Clearly spell out the BENEFITS of the more expensive option.
- Put the price into perspective – “Sure it might be a little more now, but in the long run…”
- Keep your options open… don’t oversell the dearer product as someone may be on a very tight budget.
Cross or Add On Sell:
A technique that is successfully used by many large companies (see McDonald’s above). This technique can be very effective when selling products or services that are used in conjunction with others.
A good example of this would be selling your customers a watering system when they buy a quantity of lawn seed. Or try buying a suit without the sales assistant offering you to try a vast array of ties.
You can also cross sell associated products or services on a commission basis with another company.
Here are some useful hints and tips on cross selling and add on selling:
- Always offer more than the customer is initially looking for.
- Offer a package deal if they buy something else as well.
- Don’t over pressure people, after all you want them to come back.
Down Sell:
Show them the highest priced item first and then the one just a little more expensive than they’d planned seems extremely cheap. This can be really effective when your customer can’t afford a more expensive item. Rather than attempting to only sell them a higher-priced item, and as a result losing the sale altogether, you simply sell them a similar product that fits just above their budget.
Here are some useful hints and tips on down selling:
- Wait until you are absolutely sure they can’t afford the premium product, you just might sell the most expensive item each time.
- Try and make it sound as though there is little difference between the two products anyway.
- If you haven’t got a cheaper version, try and sell them something else.
About ActionCOACH
Brad Sugars founded the brand Action International in 1993 when he realized there was a disconnect between business advice and implementation. The answer was Action! Brad Sugars created a business coaching company so that business owners throughout the world can realize their goals in business. Today the company is known as ActionCOACH. To learn more about business, visit Brad Sugars Review blog!
Reason #1: Different styles and methods of business coaching don't work for everyone
It's important to be honest with yourself and conduct a realistic assessment when it comes to business coaching. Though business coaching can have many benefits, it might not work for everyone.
Every individual brings their own experiences and values to the coaching dynamic, so results will vary. Additionally, some individuals might need more than just a coach. They might also need specialised knowledge or communication strategies specific to their industry or target audience. Below are a few key factors to consider:
Reason #2: There is no clear focus or vision (talk about time dedication here too)
cIt's important to be honest with yourself and conduct a realistic assessment when it comes to business coaching. Though business coaching can have many benefits, it might not work for everyone.
Business coaching is an effective tool for developing a clearer focus and vision for growing your business. A good coach will help you to take a comprehensive look at your strengths, weaknesses, and available resources that can be used to reach those goals. They will also help you draw up action plans with step-by-step instructions to get there.
By providing honest feedback and being patient throughout the process, a business coach can make sure that you’re on the right track. This will enable you to set realistic milestones and tasks.
These tasks may need dedicated time outside of coaching sessions. For example, a coach might help a client develop a marketing strategy or implement new systems for managing employees. However, if the client does not have enough time to devote to these tasks outside of coaching sessions, progress will likely stall.
Both the coach and the client must have enough time available to reflect on past experiences, brainstorm new solutions, and test out different strategies. If either party is rushed or distracted during coaching sessions due to other commitments or obligations, they may struggle to fully engage in this process.
Effective business coaching also requires a commitment to regular meetings and ongoing communication. If either the coach or the client does not have enough time to dedicate to these meetings, progress may be slow or nonexistent.
It's important to recognise that business coaching is an ongoing process that takes time to yield results. While some clients may see improvements after just a few sessions with their coach. Others may need months or even years of consistent effort before they begin seeing real changes in their businesses.