How to Upsell in 5 Easy Steps
No salesperson worth their salt wants to miss an opportunity to increase the revenue from a sale. Upselling is an invaluable technique whereby the salesperson invites the customer to buy further items which enhance or are closely associated with the initial purchase. When handled correctly, upselling gives the customer the impression that they are adding value to their initial purchase whilst for the salesperson upselling is an effective way of increasing the revenue from a sale.
Gaining the greatest benefit from every customer should be the goal of every sales manager and salesperson, and 'Maximising Incoming Business', a comprehensive course from sales training specialists Maguire Training, shows delegates how to make the most of every sales opportunity. In just one day, topics covered in detail include sales questioning techniques, effectively handling objections, understanding customer needs and expectations, highlighting benefits and gaining customer agreement. As a result of attending Maximising Incoming Business, salespeople will acquire the knowledge and techniques which should enable them to make the most of every incoming business opportunity.
As mentioned, upselling is just one of the ways in which salespeople can maximise profit from a sale but there is an art to upselling effectively. Once mastered, however, it is an invaluable addition to the salesperson's repertoire. Here, Maguire Training helpfully shows you how to upsell in 5 easy steps.
Step 1: Ensure that the upsell is logical for the customer
If you've just sold a hammer drill to a customer it makes sense to suggest that they buy a set of drill bits which extend its usefulness. Carefully matching the additional sale to the initial sale is crucial, but if the product or service you're selling has no obvious adjuncts it is still possible to upsell an extended warranty or, for a cheaper or disposable item, suggest that the customer buys a second as a spare or to replace the first when it eventually reaches end-of-life.
Step 2: Make the deal attractive
Offer the customer an incentive which is conditional on the upsell. Using the previous example, you might allow a 10% on the sale if the customer buys the hammer drill and the additional drill bits together. Other incentives might include a discount on a future purchase, a product upgrade or a move up to the next tier of after-sales service.
Step 3: Plan your introduction
Introducing an upsell to the customer must seem a natural and unforced aspect of the sales conversation. It should be couched purely in terms of the benefit to the customer; e.g. 'If you really want to get the performance out of your hammer drill, we have a set of drill bits that will tackle everything you throw at them and you'll get jobs done in half the time'.
Step 4: Don't leave upselling to the last minute
Timing is crucial for effective upselling. If you leave it too late in the sales process it may seem like an afterthought and the customer may already have moved on. The best time to suggest an upsell is shortly after the customer has agreed to the main purchase, but not so soon that it appears you are trying to take advantage or go for the hard sell.
Step 5: If at first you don't succeed, follow up
If, for whatever reason, it is not possible to upsell during the initial sales negotiation there is a viable second opportunity. Follow up the sale at a later date by making a 'courtesy call' to the customer to check that everything is OK and that they are happy with their purchase. As part of this conversation you can remind them that any incentive you gave to enhance their product by buying your suggested add-on still stands but that the offer will end shortly.
Upselling is just one way in which business owners, sales managers and sales people can potentially get the most from every transaction. Maguire Training can show you many other ways courtesy of their portfolio of outstanding sales-related courses. For the complete convenience of busy delegates, the courses such as Maximising Incoming Business are delivered both in the classroom and as online training which can be accessed at any time over the internet via Maguire Training's innovative E-learning platform.
