Upselling is simply the process of selling additional products or upgrades to your customers. If you are not doing everything possible to sell additional products or services to your existing customers, you are leaving money on the table. Upselling is easily one of the easiest and most effective ways to increase your average order size and sales volume.
Why is upselling so easy? You must realize the hard part has already been done. The customer has already made a previous decision to do business with you; they like what you have to offer. You have already built a relationship, confidence, and trust while they experienced the product or service.
Realize there are only three ways to grow revenue: get more customers, get customers to spend more money, get customers to spend more often. Notice two of the three options involve upselling to customers. Upselling is no more than suggesting another way you can help a customer to make their life easier or better. Consider the following six word question every McDonalds cashier is trained to ask, “Would you like to supersize that?” Asking this question at time of sale creates the potential to add an extra $0.60 to every order.
20 tips to increase sales with proven upselling techniques
- Never attempt to upsell until you have completed the initial sale.
- You improve your chances of success to make the up sale if the add on item does not increase the sale by more than 25 percent.
- Suggest additional products based on those items that relate to the initial purchase.
- Special offers and incentives are a critical component to upselling. Give your customers a reason to buy!
- Limited time offers work best.
- Ask questions that focus on the customer’s needs and ideas; affirm your customer’s thoughts. Make it clear you have their best interest at heart.
- Explain how and why the additional product will benefit the customer.
- Be enthusiastic.
- Say the clients name often.
- Utilize testimonials to build confidence.
- Whenever possible, get the customer to handle the product.
- Consider the customers budget.
- Always add value. Quantify cost versus benefit.
- Always offer solutions.
- Talk to your customers on a regular basis.
- Educate.
- Prepare an effective script. Start with a statement that will grab their attention. For example, “Because of the purchase you have made today, it qualifies you to save up to 30% on any (upsell offer).” Do not say anything more, simply wait for a response.
- Train your staff. Make sure your sales people thoroughly understand the upsell products, scripts, as well as the proper questions to ask and answers to give. Establish role playing training sessions where the entire sales staff participates in the learning process.
- Hold sales people accountable. Everyone on the sales staff must present upsell offers with every purchase. Set individual sales targets and measure individual results.
- Offer your sales people financial incentives. Set up friendly competitions among your sales staff. Offer financial commissions or bonuses for hitting target sales goals.
Without question, upselling to your customers is the easiest place to go for more revenue. The biggest deterrent to success is that most salespeople simply just do not make an attempt. Start increasing your revenue today by placing these 20 tips into action.
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