What is Upselling and How Can You Do It?
Date: October 15, 2021
There’s a common trick in the food industry and you yourself may have fallen to it already! Normally, in fast food chains or the cinemas, workers would never offer the medium size of anything and go straight to the large portion. “The price difference is measly, and you get more food!” is the usual line. And they’re right, so you’re convinced.
But there’s more beyond that. Upselling also means that while sticking to serving your niche market and staying within a range of products, your brand is constantly improving its service and offers.
Upselling is most often defined as the sales tactic to offer or recommend the more expensive, more premium version of a product an existing buyer already owns. What steps can you take to advance your upselling program?
1. Learn everything about your product
You can’t sell a product without knowing it, and to upsell in a whole category is even harder, especially without equipping yourself with the product’s features. It’s one thing to market and sell but it’s another to highlight what makes it better than the other product.
Learn the ins and outs of both the basic product and the premium product. Knowing what makes the latter the best option is a way for you, as a marketer or salesperson, to hone your selling skills and can get you to convince a customer to purchase.
2. Know your target market--on a whole new level
It’s not just knowing the persona, demographics, and psychographics. You also have to determine how they use the product they already have, and how the newer, more expensive offer can benefit them. Having that knowledge will make it easier to figure out how you can angle the selling point.
3. Focus on what they already have
In line with the second point, using the products that your potential buyer already has and enjoys as a pull to introduce and vouch for the upgrade.
“So your mobile phone can do all that and sure, that’s working for you. But the new edition has upgraded specs and features, and the battery can even last 20% longer because of the new technology! It’s perfect for your lifestyle as a busy bee.”
Don’t trump on the product that they like, but use it as a way to mention what makes the newer version upstage it. And using numbers is always good in comparisons, it shows that research and studies were conducted and improvements were really done.
4. Personalize offers
This is where it can get tricky, because if your goal is to upsell, you might end up even cross-selling. While that’s not bad, it’s important that you don’t get sidetracked and still zero in on recommending the better product, not another product.
You can personalize offers by looking at the buyer’s budget, needs, and by having other similar products in mind to recommend should they not take up your first offer.
5. Keep track
Whether it’s a new client or a returning one, remember what they purchased from you; considering you did a good job in upselling! The next time they come back and you have an even more improved version of their item, you can do all the other steps again and close a deal.
Let’s take a look at your products and see how you can upsell.
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