Upselling and Downselling
Supported by Clickoble.com
Just a few years ago, there was no such thing as upselling or downselling. But now, it’s the norm. And for good reason: upselling and downselling are effective techniques that can help you increase your sales. Many people are already doing it. But not enough people are doing it correctly. Here are the seven techniques to increase your sales with upselling and downselling.
Proven Techniques to Use Upselling and Downselling
1. Don’t Do Upselling Without a Downselling! Upselling is easy. But it’s always a bad idea to do upselling without a downselling. If you offer a customer a higher-quality version of the product they’ve already bought, you’re increasing their value of that product. So you’re increasing the likelihood they’ll buy that higher-quality version. But at the same time, you’re making it more difficult for them to sell the original version. You’re holding the value of the product up. That’s a bad thing. But a positive thing. Because it’s not too difficult for the customer to say no. You can’t do upselling without a downselling.
2. Don’t Do Downselling Without an Upselling If you want to start doing upselling, you can’t start doing downselling without an upselling.
What is the difference between upselling and downselling?
Upselling is selling to customers who are already customers. It’s making a referral sale. If you call someone who is already a customer and you can make a sale or close a deal for them, you can do that. Downselling is selling to people who are new to your product or service. It’s making a referral sale. If you refer someone to your product or service, and they decide to buy from you, that’s a referral sale. An example: The guy in the picture above had heard that Toronto restaurants were losing business because of the smoke that was coming from nearby brick-oven pizza ovens. So he decided to start a brick-oven pizza company. His first restaurant was a tent. He served two items: pizza and a burrito.
Common misconceptions
1- Upselling is always wrong False. To upsell or not to upsell? That is the question. And the answer is no. Upselling can be a useful tactic in sales. But it’s important to understand that it’s a combination of marketing and sales. The best example of how to use upselling effectively? Nike’s incentive for its customers to buy new shoes: a free gift with every pair they buy. They made this decision because upselling was a vital part of their marketing strategy.
2- Upselling is a big waste of time False. A big chunk of your time is better spent doing other things.
Upselling and downselling don’t have to be complicated. And they don’t have to look like they came from some shady sales manual. You just have to make sure you know the basics. It also helps to have a few common mistakes on your side. Here are the most common mistakes people make when using upselling and downselling: They might ask for a decision. That’s one of the most common ways you can upsell. Let’s say someone is on the fence about buying your product. Say you sold them a smaller memory card than what you normally sell. They still don’t know that you are only trying to upsell them. After you left the meeting, they go out and buy another smaller memory card. Sometimes it’s better to just use upselling and downselling to find out what their wants and needs are.
The right way to upsell
Upselling is when you use an incentive for a sale that you wouldn’t normally offer. An example would be if you didn’t normally offer a customer the option to buy one year of service. Upselling isn’t all about customer discounts. It’s also about using incentives, such as free or reduced-price products, services, and other benefits. The sale should be personal, and you want to get your customer to like you and want to do business with you. The proper way to downsell Downselling is when you offer something of no value to your customer. An example of this would be if you offered a discount for paying in full and ordering on the spot. However, only a handful of customers will do this. You should only use downselling if you have a large customer base that you can add upsell to.
The right way to downsell
When a customer comes into your store to buy something, you should ask yourself: What will you do with this customer if he/she buys this product? Do you have a natural stopping point where you could add something else to the purchase? Do you have a technique for avoiding sales pitch and getting them to buy something else? Of course, it’s not necessary to have a technique. Most of the time, they’re just there to buy something. If they’re not, you’re going to have to tell them why they should buy something else instead. Usually, people will listen to that. Why is it important to differentiate your selling techniques from someone else? First of all, no one will think less of you if you try something new. And second, it can give you some ideas for your own future marketing.
Conclusion
The way you sell is far more important than the product itself. Everyone knows that. But what they don’t realize is that the way you sell can actually make or break you. Use the right techniques, and you can maximize your sales, and impress your customers. Want to learn the top upselling and downselling strategies in sales to maximize your profits? Click the link below to download our ebook: How to Increase Your Sales by Mastering Upselling and Downselling. And don’t forget to check out the videos below to learn more about upselling and downselling. Do you know of a few proven tactics to use upselling and downselling? What’s your favorite method of selling? Share it in the comments below.
