3 Simple Strategies for Selling More
Upselling, Down-Selling, & Cross-Selling for Success
When it comes to the sales process, your mission is to sell the most you can while retaining your professionalism. It’s easy to use coercive and manipulative tactics to get a hand over your customers and competitors, but in the end, that diminishes your client relationships and may impact your ability to sell in the future.
However, there are plenty of ways to sell more products that don’t require wringing your clients dry or resorting to outdated tactics, all while encouraging your clients to become regular customers of your business.
Your customers are looking for quality, especially when you offer your services to fellow business owners. That’s why you should consider upselling your products by offering higher value items that are better suited to a client’s needs. Providing a client with more options at varying price points not only gives them more flexibility to choose one of your products, it actually helps to push your competitor’s products out of mind.
Not all clients are looking for a cheap product, some actually want the most expensive thing that money can buy! It goes without saying that a cheaper product generally means lower quality. There is a reason the saying “You get what you pay for” is so commonly used when referring to less expensive items. That’s why some clients will turn to your more expensive offerings in search of a product that will not only meet their needs, but outshine everyone else’s.
Especially when up-selling, make sure your client knows your products are the best for their unique needs. Whether you use higher-quality materials, have a better solution altogether, or have a more durable finished product, clearly show your customer why the higher-priced item is a better alternative. And don’t just say it either, back it up! As the price goes up, quality is what will keep you in the door, so make sure your client knows that your business is better than the competitors, and that your products are of the highest quality.
Your sales team should be directly interested in your clients needs. Not only does it help you build a relationship with your clients, it also opens up the opportunity to cross-sell. Cross-selling is when you offer additional items that also fit a client’s needs or compliment the original product. A great way to do this is by making suggestions for other products you offer that will further bolster their business, or by creating concepts that show them how their logo, for example, would appear as a vehicle wrap.
Packaging your products together, or bundling products, is a fantastic way to cross-sell a wide range of your products all at once. These packages would be aimed at providing savings to your customer, all while applying a greater value to products that they did not even know they needed. Cross-selling your products and offering packages also positions your business as a future provider for a customer’s long-term needs.
While the customer is waiting on their product to be produced, it could be the time to approach them about other products that can fill the gap while they wait. Offering inexpensive, quick to produce products are key to this sales strategy. For example, while a client is waiting for their storefront sign to be produced, you could sell them a banner, interior signage, or promotional graphics like window clings, posters, vehicle wraps, and more.
Sometimes your product isn’t going to suit a customer’s needs or budget. This is the time you should turn to down-selling as your last resort to keep the customer in the game. It’s always a great idea to sell a client a cheaper product if it means that you otherwise wouldn’t have made a sale. Down-selling is when you offer a less expensive product or alternative package to avoid losing a sale.
Providing your customer with a cheaper alternative may just be enough to turn around a sale, such as a less expensive panel sign or dimensional lettering instead of the lighted channel letters your client may have originally requested. You can also include a cheaper package that may include multiple products, to give clients more bang for their buck.
Sometimes down-selling is all that is needed to make them realize that they do want the more expensive option after all. Showcasing the difference between the levels of quality may convince the client the value of the original product that they initially thought was too expensive. In this case, you have not only secured the client, you have made more money than if they had walked away or selected the lower cost option.
There are multiple strategies when it comes to selling, that don’t rely on coercing your customers into making a purchase they simply don’t need. At the end of the day, the customer makes the choice whether or not to work with you, and employing these tactics helps to keep their focus on your business and products, and keep them from turning to your competitors to find a product that fits both their needs and budget.
To recap, we defined:
- Up-Selling: offering higher value items that may be better suited to a client’s needs.
- Cross-Selling: offering value items that may also fit a client’s needs or compliment a product.
- Down-Selling: offering a less expensive product or alternative package to avoid losing a sale.