Most of the business owners spend lots of time and money for their product promotion. But when they do not get as much as sales they expected, frustration arises. Some tend to make new strategy, some spend more money.
It is true sales can be very difficult. To improve sales new strategies are made and struggles add to your business life. Many of them just ignore the simple way to improve. Today we are discussing that simple way, a simple concept that can boost your sales, maximize the revenue of your selling.
So, what is that simple concept? It’s named up selling or up-sell. Before go through first know what is upselling?
Let us make it simple. So, upselling is basically maximizing your revenue from each sale you make which you have done enough promoting that product. Without wasting time and energy on leads, you can target the customers or users who are already will to buy.
Let’s say, you go to a restaurant and have ordered something from their menu. And the waiter offers you something new dish or salad as dessert for some extra money. So you want to give a try usually. That’s how they can sell up their new item without any promoting or advertising.
Another example can be, you are going to travel by air. The airline offers you the flying coach to upgrade a first-class seat with an addition of some money.
These all are they real life example of upselling. Simply, when you are offered something with an additional cost or offered a higher version of that product are going to buy, it’s upselling.
A tip: Upselling is offering extra value for your customers. You can convince your customer to buy that additional service as long as that value is worth for the extra cost. So keep that in mind.
Upselling and cross-selling the difference
Before applying the upselling strategy to your business you have to know the what is cross-selling also. Because it is related to each other and if you don’t clear idea about upselling and cross selling you will be in trouble in promoting your products.
It’s another concept which can also boost your revenue based on the same idea of upselling. Customers always want to buy something more. A customer who has come to your store or online shop to buy a product may always want to buy other products. It’s a simple psychology of general customers.
The difference is, with up sell you offer your customers to buy related items. But with cross-sell, you offer completely different items. Not only offer to upgrade that related product your customer is going to buy.
For example, if a customer comes to your shop to buy an Elliptical Trainer you can offer a Treadmill or a Rowing Machine. That is cross-selling.
The Effective Ideas of Upselling
Some common methods are already told above with the examples. As a starting, you can start with that. Besides, here are some more and advanced idea for you.
It’s a common method you can start with. You just can add or offer additional items when your customer will be ready to check out or add something to their shopping cart.
For example, if someone is buying a product, you can suggest the available accessories for that item.
Upsell your app
You can do your promotion by offering new or extra features through your app. Dropbox is the best example of this idea.
Follow up emails
You can up sell your product by personalized follow-up emails to convince your customer to buy more.
Customer Relationship Management (CRM) is very powerful in an online business. Track your every of your customers’ interests. Know their needs and intonations. It will help your upselling strategy.
Know Every of Your Products
You as well as your salesmen should have clear idea on every of your products. Otherwise,you cannot make the right combination or right approach to your customer while doing upsell.
Customer Support interactions
You can offer or up sell your product by online chat or support center. It is the new and effective way of upselling. When customers buy something or have reached you for a solution via online, you can get them introduced to your new products or accessories.
There are plenty of idea of upselling. You should use your brain and experience to understand your customer psychology. You can also generate the new and innovative idea of upselling by your own. The customer always like new approaches. But don’t hurry or don’t be too pushy. Also, educate your salesmen how to upsell using the ideas or strategy you have made.
What You Should Do
- Always focus on customer’s need and try to find the opportunity how the value added offer can help meet the needs of a customer.
- Upsell when possible and take the appropriate opportunity.
- You can show your customer side-by-side comparison to make them see the value in the premium or upgraded version.
- Educate customers of your products.
- Offer limited or in moment discounted price to encourage the customer to make an immediate decision.
What You Shouldn’t Do
- Don’t too pushy. Educated your salesmen not to be aggressive.
- Never make your customer puzzled or confused.
- Never make the wrong match.
- Don’t forget to track your customer’s data.
We all have worked hard to attract or get more customers in our businesses. But it’s not only the solution of selling all of our products. When you get a handsome amount of customer, it’s up to you then to up sell your products. Apply these ideas and build your own systems & processes that will support your up sell and increase your revenue.