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.
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.
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.
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!