Upselling Products & Services
By CleverSage | February 12, 2008
You have heard the classic example time and again, “Would you like fries with that?” How about a soda or a shake? Come on, we know you want something else!
Upselling and cross-promoting services and products is a great way to increase revenue and profit. Not just limited to fast-food and car dealerships, these methods can be implemented online with amazing success.
The impact that upselling and cross-promoting can have on your business’ bottom line is nothing short of amazing. It is simple and quick to implement and you will be amazed at the additional revenue it generates.
Why Upselling Works
Upselling works for a couple of reasons:
- They are already your customer, you are just adding optional features to what they are buying
You have been successful in persuading someone to buy something from you, the hard part is over. You have gained their trust, provided them with reasons why your product is superior to others in the market, and you have assured them that they are making a great decision by using your product(s). - The add-ons are typically a fraction of the price of the big-ticket item a customer is purchasing
More often than not you are upselling or promoting items that are a fraction of the price of the item they just purchased from you. It is your job to now pair relevant and enhancing features, services, products, etc. with that item. If you cannot find anything that relates to the product they are purchasing, either find a product you can pair or at least promote one of your other products.
Some Examples
- Fast-food restaurants offer fries or a drink when you order something.
- Car dealerships offer leather seats, power windows or a premium sound system.
- Amazon.com shows a list of other items that people have bought together.
- Travel companies offer trip insurance for your vacation.
- Grocery stores offer ‘x’ amount off of their special of the week on their receipts.
- Gas stations use your purchase of gas to get you into the store to purchase more profitable products.
- Website hosting companies offer a discount domain if you purchase hosting.
- Hotels & motels offer upgraded rooms, or rooms with a view for an extra fee.
The list can go on and on. Whatever your services or products are, you CAN implement some type of upselling or cross-promoting within your business. Take the time to site and pair up items that go together, it is worth your time and money. At the end of the day you can increase your bottom line by 10, 20, 30, 40 or even upwards of 50%!
Let’s end this post by putting upselling into practice:
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Topics: Traffic Building |