The Honest Truth About Upselling Techniques
Are you stuck not selling enough? Are your profits weak, puny, and impotent? If so, here’s a remedy for your struggling bottom line.
At your point of purchase, sell your customer something else. You can offer them an additional product, an upgrade, and extended warranty, an affiliate/joint venture product, or an on-going service. The point is… sell them something else while they are in the psychological mode of buying. You’re missing out on hidden profits in your business if you’re not selling more to your customers at the point of purchase… Can you offer your customers another product when they buy? Can you offer them an ongoing, monthly club, membership, or perpetual fee? What else can you offer them that they will get value from?
Can you re-bundle, repackage, or add additional features to a product and ethically charge more money for it? Can you offer a bronze, silver, and gold version for the products and services you sell?
One of my favorite companies that does this is GoDaddy.com. Although they take it to the extreme, GoDaddy makes a fortune on their up-sells, down-sells, and cross-sells. They try to sell you domain identity protection, hosting, other related domains, and countless other services, each of which adds tremendous profits to their bottom line.
Even though most people decline this service, how much incremental profit are they making on the 20% that do take the up-sell? The quickest, cheapest, and lowest risk way make your company more profitable is to increase the amount of profit your make per transaction.