Gaebler Ventures Gaebler Ventures is a business incubator and holding company providing venture capital investment and shared services to early-stage companies. We've invested in some great portfolio companies. Some of the best resources for entrepreneurs -- all based on our real world experiences! Our guiding investment philosophy is to provide exceptional returns for our investors. Check out the latest news from Gaebler Ventures. Learn more about Gaeber Ventures! Get in touch. We'd love to talk with you!   
 
 
Gaebler Ventures is a business incubator, holding company, and private equity firm. We help entrepreneurs transform ideas and innovations into greatness.

Articles for Entrepreneurs

 

How to Improve Sales

 

Upselling

Learn these helpful upselling techniques and you'll be on the way to improving sales.

The purchasing decision has been made and your prospect is ready to do business with you.
(article continues below)

Time to close the deal?

Not yet. First, you need to try these helpful upselling techniques to increase the size of the sale.

Upselling is a relatively easy way to boost sales volume without generating any additional leads. Once the customer has decided to make a purchase, the sales rep tactfully convinces him to purchase additional features or upgrade to a slightly higher grade version of the same product. Remember the last time you went through a McDonalds drive-through and they asked if you wanted to "supersize" your value meal? They were upselling you, and they do it because it works.

One of the biggest mistakes of upselling happens when the sales rep tries to push additional features or product enhancements to the buyer without any sense of style or finesse. Buyers will frequently choose to participate in the upsell, but only if the sales rep treats them with the same respect as he did throughout the rest of the sale. Here are a few tips to help you get it right . . .

Focus on Added Value

You can't be a successful upseller unless you truly believe the additional purchase will benefit the buyer. If you approach the upsell as just another way to increase the dollar value of their purchase, it will be impossible to convince them that you are serving their best interests. Good upsellers assume their customers want the added features because they offer added value to the purchase – not just added expense.

Communicate Benefit

Another technique that is common among effective upsellers is the ability to communicate the benefits of the added purchase in clear terms. For example, if you're trying to upsell stain-repellant on a furniture purchase, don't just ask the customer if he wants to buy Stain-Guard. Tell him he can protect his purchase for five years with just one application of stain repellant. How you do it is up to you. The important thing is to help the customer see the benefit of upsell so that he can make the right decision.

Provide Practical Demonstrations

Some upsells lend themselves to practical hands-on demonstrations. Let's say you are upselling reduced glare lenses to go with the purchase of eyeglasses. It wouldn't hurt to have a pair of demo glasses at the order desk so the customer can see the difference between normal lenses and the reduced glare version when you sit down to write up the sale. Instead of taking your word for the benefit of the upsell, the customer can experience it himself.

Offer Package Pricing

Consumers love value. If done properly, upsells can be value magnets when they create a sense of urgency with buyers. The key is to help the buyer see that if he purchases additional features now, he will spend less than if he decides to purchase the additional feature later. For example, a car dealer might give a price break on underbody rust inhibitors if they are applied at the time of purchase. If the customer decides to do it at a later date, they have to pay full price. if they are offered a particularly attractive package price, customers might even begin to view the upsell as a money-saving decision.


Comment Board

Has upselling helped you? Are you in the midst of improving your upselling talents? Share your thoughts on upselling by using our comment form.

Be the first to comment on this article.



Write a comment  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.

 

 

Additional Resources for Entrepreneurs

Starting a Business - Business Ideas - Naming and Branding - City Guides

Buying a Business - Writing a Business Plan - Raising Money - Incorporate

Small Business Marketing - Customer Service Tips - Entrepreneurial Selling

Startup Leadership - Strategy - Intellectual Property and Entrepreneurs

Articles on Exporting - Human Resources for Entrepreneurs - Dell Deals

Legal Information for Entrepreneurs - Accounting for Entrepreneurs

Business Credit Cards - Nonprofit Entrepreneurs - Mission Statements

Tax Tips and Resources for Entrepreneurs - Operating Your Startup Business

Real Estate Decisions for Entrepreneurs - Franchising - Selling a Business

Starting a Home Business - Small Business Technology - Business Travel

Business Finance - Advice for Retailers - Entrepreneurship for Scientists

Administrative Professionals / Office Managers - Family Business Advice

Good Businesses to Start - Payroll Service Information - Productivity Tips

Search Engine Marketing - Search Engine Optimization - Radio Ad Costs

Newspaper Advertising Rates - City-Specific Resources for Entrepreneurs

Small Business Insurance - Global Entrepreneurship - Entrepreneur Features

Small Business Loans - Useful Web Sites for Entrepreneurs

Entrepreneurial Resources by State - Resources for Young Entrepreneurs

African American Entrepreneurs - Resources for Hispanic Entrepreneurs

Resources for Asian Entrepreneurs - Resources for Women Entrepreneurs

Resources for Gay Entrepreneurs - Businesses for Sale - Office Supplies

Lists of Small Business Incubators - Lists of Angel Investors

Lists of Venture Capital and Private Equity Firms - Franchise Opportunities

Recommended Products and Services for Entrepreneurs

Get FREE Price Quotes from Multiple Vendors - Business Glossary