It’s great to grow sales by finding new customers but all too often we overlook upselling within our own customer base as a viable way to considerably grow your company. Use Upselling to increase customer retention, satisfaction, and sales.
Upselling isn’t just a sales tactic; it’s a customer happiness tactic that can help you build deeper relationships with customers by delivering more value. Find ways to encourage customers to try new products. Customers may try new products and develop long term purchasing habits that include these new products.
A few of the Upselling techniques you might use include:
- Get a gift with minimum purchase. Offer a promo item or even free freight to purchase a minimum dollar amount.
- Offer incentives at a tiered level with a Reward Programs. Create reward programs around short time frames (30-90 days). Set attainable tiers for your customers and entice them to achieve these incentives along the way. Easy reporting gives your sales personnel the touch points they need to increase sales.
- A Customer Referral Program is a commonly used Upselling technique. Offer discounted product, gift cards, or a better discount tier for referrals of new prospects.
- Bundling (Deals) encourages your customers to buy more and purchase items they wouldn’t instinctively try.
- Create bundles for customer convenience. Maybe they wouldn’t ordinarily buy the shampoo and hair spray together. Create a bundle at a package price that makes it attractive. Move the inventory off the shelf and reduce margin in the process.
- Move that dead stock. Create a bundle (Deal) that contains a popular item along with an item that is accumulating dust on your shelves.
- Create bundles for Holiday or Pre-Season Promotions.
- Upsell with every customer phone call. Confirm the customer is receiving your flyers and ask if they have questions about your bundles or deals. Every customer interaction is an opportunity to promote your products with upselling.
Always measure your programs progress for success. Upselling should increase customer retention rates, happiness, and improve profitability. Tracking progress helps you understand if you should continue the program or try a different technique.
Design and implement your Upselling programs today!