Ask and most businesses will tell you. The key to their success is upselling. It is one thing to get sale. It is far better to super-size that sale.
Real profits come when you get customer to buy a larger, more expensive, or more comprehensive product or service. The guy going into a pet store to buy a fish is a classic example.
When clerk sees Sam looking at budget-priced gold fish, she leads him over to much more impressive tropical fish.
"As you probably know, you will need a fish tank," she says. "These beautiful fish only live in salt water. We have these $75 salt water tanks on sale for just $49.95."
By time Sam exits store, he has purchased much more than twenty cent gold fish he originally came in to get. He is proudly carrying home several exotic species, a $50 fish tank, fish food, a light, and other accessories. The sale went from a tiny twenty cent transaction to nearly $100. The store's profit margin rose right along with it.
You Are There To Help
Upselling is easy if you think of your main business as helping customers. Think about problems your customers come to you with. What does it REALLY take to solve their problems?
Chances are, your customer needs a lot more than simple inexpensive solution they first consider. By grouping together several different products and services, you can give customer a more advanced package that goes much further toward creating a satisfying solution.
Melissa buys a computer. Even though she is not thinking of purchasing anything more than computer, a few questions posed by sales person reveal Melissa will probably need new software to help her achieve things she wants to do with computer.
The computer and new software have a pretty steep learning curve. Melissa will need help from an expert and likely a technician to install network system her needs demand.
The computer retailer anticipates Melissa's situation. Many of their customers are just like her. The store offers a "getting started" package with all new computers. It includes several software choices, instruction sessions, and help with installation. These things are cheap for store to provide, but greatly increase value of purchase.
Three Ways To Make Upselling Automatic
Here are three favorite ways to build upselling into any purchase. Use these and customers will buy two or three times as much without even thinking about it. The day I put these ideas to work in my own business, I tripled my income.