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Mar 06, 2012 | 7 comments
“Would you like fries with that?”
These are some of the most common words spoken in fast food restaurants in the country, and they account for a significant percentage of the 2 billion servings of fries consumed by Americans.
This is cross selling at its finest, and it nets the fast food restaurant industry hundreds of millions of dollars in sales.
And if you want to get an example of how up selling works , I have got one word for you- Supersize. During the time Supersizing was in action, McDonald’s probably made enough cash to fill up several Olympic size swimming pools.
So if cross selling and up selling can deliver blockbuster revenues for the fast food industry, can’t these techniques boost your sales numbers?
Sure they can, if you don’t mess it up.
Here are a few principles every business needs to keep in mind if they want to apply cross-selling and up-selling to boost the bottom line.
I wasn’t lying when I said up selling and cross selling can increase your sales and the lifetime value per customer. But despite the word sell, these strategies are not a replacement for traditional sales and marketing.
When you decide to implement cross selling and up selling in your business the deciding factor has to be customer value.
Don’t make customers resent you by insisting on a credit card they they might not want when they open an account with your bank.
However, don’t be shy about recommending items of value to the customer. Take a leaf out of Amazon’s handbook and provide relevant recommendations on what else could be bought.
As visitors browse your site their behaviors can reveal product preferences. Live chat with visitor monitoring lets customers chat with you and gives you an opportunity to make great recommendations.
This recommendation tactic is especially important if you have a large inventory or you provide complicated services. Sometimes, it might be the only way for you to expose all your offerings to customers.
While you are at it, don’t get carried away. A smart salesperson won’t unfold the store’s entire stock of jeans when you want to see just a few, right?
No one wants customers overwhelmed and confused with too many choices that might cause them to back away slowly, or in the case of a website, hit the close button and flee to the familiar environs of Facebook.
So you have determined that the customer can buy item B with item A and benefit from the transaction. You have suggested that, and also displayed items C and D to the customer which might also be good purchases.
You can still trip up and lose the sale.
You have to get rid of customer objections by demonstrating that others agree with your choices. This is where testimonials, expert reviews, user ratings etc come into play.
This is why, Amazon does not title their recommendations as “Our Recommendations”. They say “Customers who bought this item also bought”.
Don’t sell tennis racquets, balls or sweatbands in separate transactions. Make it convenient for your customers by packaging all these three items and selling them at a price lower than the sum of the individual items.
Don’t stop only at coding when a client wants a new website. Offer to do the graphics, logo, SEO and content.
Customers love integrated offerings because they can get everything they want with minimum of hassles. You should love this tactic because it increase the value per sale and reduces marketing costs.
In some cases, the best idea to introduce additional or costlier items is after the customer has already selected something first.
Don’t interrupt the customer when they are searching for a particular item- it messes up the user experience and might lead to shopping cart, or store abandonment.
What would likely happen if a waiter did not take the orders for the main course, but instead made the patrons sit through a recitation of the dessert menu?
What cross selling and up selling strategies have worked for you?
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