Significant GPS Blog

20th: Use upselling and cross-selling strategies

business excellence growth marketing performance sales teams Oct 09, 2023

 

 

Just in case you don’t know, upselling is prompting your buyers to go for a higher-value product. Remember the Burger King staff asking you to choose a large Coke or large fries instead of regular one. That's upselling.

 

Cross-selling is prompting your buyers to buy add-on things. The pizza shop guy asking you to buy coke and desserts with pizza and the salon lady asking you to buy a professional-grade shampoo that is exclusively available at their shop are examples of cross-selling. You didn’t want it initially but you may end up buying if they prompt you and maybe offer you a discount. 

 

These marketing strategies help you generate more revenues from the same number of customers. You are not acquiring more customers. You are just prompting your existing customers to buy more from you. These techniques do not cost much but provide a very high ROI. Here is how you can do that- 

  • When trying to cross-sell or upsell, consider your customers’ best interest. Suggest products that are genuinely good for them. Do not sell or promote substandard or unnecessary products or you may lose their trust. Choose products that make sense. 
  • Be very gentle in your approach. Do not force them to buy extras. Do not annoy them by repeatedly suggesting bundle offers. 
  • Offer discounts on cross-selling products to increase buyers’ curiosity. A flat 25% discount may tempt them to try something new. 
  • Know your customers. If they are your regular ones, you would know what will appeal to whom. 
  • Keep a record of upgraded sales. When the buyer comes to you next time, ask him/her about her experience. If they weren’t happy, inquire about the reason and fix it. Offer her a complimentary revised product/service to try. 
  • Practice active listening. Your customers may share their issues or expectations while talking to you and if you have a relevant solution, you can use this opportunity. 

 

Since your staff will do the upselling and cross-selling pitch, you should offer them incentives. This will motivate them to try harder. 

 

 

   

More information: https://www.significantgps.com
We help you Grow, Pivot and Stabilize your business through Goals, People and Systems
Franne McNeal: https://www.linkedin.com/in/frannemcneal

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