Gaining a new client is five times more difficult than keeping an existing client, so building up a trusting relationship with them is one of the most important things to do.
Many clients can see through some of your strategies to sell them something more besides the actual purchase they were thinking of, and often stick to their original idea. But, if your customer has been enjoying using your product, they will take into consideration the comments you do about any other product they can use with it – or alongside it – to get the best results.
If you want to see the real success of your product suggestions, you can always consider analyzing the “customer delight” part of the formula that is selling.
What is Upselling?
Upselling or “additional sale” is a marketing and sales technique that consists in offering something else besides the actual sale you are about to make to a potential client. It could be an upgrade from the main product (usually more expensive) or an additional product or service.
Here are a few examples:
- On the check-out process for an online book company, you can have the PDF version which is printable or you can have that item plus the audio version for an additional fee.
- An app with limited free templates you can download or you can pay a subscription with a discount per year and have limited downloads.
- Extend a guarantee or a contract for a fee.
- Giving the customer a choice to a larger meal size or re-fill for an additional fee.
What is Cross-Selling?
Cross-Selling is a marketing concept and technique that tries to increase the income of every sale and to accomplish that retailers offer the customer complementary products such as an additional battery for a laptop but they also can show any other product like a desk for the computer. It is often used by sellers with pre-existing clients or potentially new clients.
Let’s see some examples:
- When in a fast-food chain, the person taking your order asks if you would like to add fries to your meal.
- A clothing retailer shows the shopper many outfits or items that complement the original piece the person was interested in, and the customer buys them all instead of just leaving with one product.
How to Upsell and Cross-Sell?
- Determine which products get the best results.
- Offer upsells and cross-sells that are best for your client.
- Upsell and Cross-sell with integrity.
- Demonstrate value before making the pitch.
- Reward customers for their loyalty.
1 – Determine which products get the best results: you want to be as cool as you can so they do not feel bombarded. Up-selling is not always the best option for a client, sometimes a Cross-Selling suggestion on how another product would be better fit for the customer is a great technique.
2 -Offer upsells and cross-sells that are best for your client: your suggestion has to fit the customer’s exact needs when interacting with you, we often recommend to actively listen to their needs and answer every question the client has so they can determinate with confidence which of your products or services are meeting their standards or needs.
3 – Upsell and Cross-Sell with integrity: if customers don’t feel comfortable, they will bolt. The more clear and transparent you are about your sales team is about finding the perfect product or service fit, the more likely those customers will stick around become loyal advocates of your company.
4 – Demonstrate value before making the pitch: it is very important that you demonstrate the value of the second product or service that you are offering, so we will always recommend researching, analyzing customer reviews and testimonials before trying to induce a product.
5 – Reward customers for their loyalty: if you got to this point, congrats! You’ve sealed the deal! You successfully convinced your client to spend even more money on the purchase they were already about to do, and for that, you should reward them. You can send them a -thank you – card, make a discount for future sales when the customer comes back, or sending them a piece of merchandising of your company.