The purchasing decision has been made and your prospect is ready to do business with you.
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.
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.