Up Selling 2

From the pages of Selling Power magazine:

Solutions for Sales Managers

UPSELLING

The Jig is Upselling How to build on your existing client base Good salespeople know that some of the best opportunities for new business come from old customers. Yet successful upselling remains a challenge for even the most skilled sales professionals. So how do you suggest to customers who are already throwing substantial dollars your way that they need to expend even more budget on you and your company? In “Getting Everything You Can out of All You’ve Got” (St. Martin’s Books, 2000), author Jay Abraham suggests three key methods for exploiting the ripe opportunities sitting in your Rolodex. 1. Turn Up the Volume Offer your best customers three times the average volume they currently send your way, but at only two and one-half times the price. So if you sell something one pound at a time, offer three pounds. If you sell on a monthly

or yearly basis, suggest a threemonth or three-year option. If at all possible, move away from single to multiple purchases, possibly spread out over time.

and home heating oil providers to lock in customers and increase margins dramatically. Is it possible to offer your best customers uninterrupted, no-hassle service instead of the usual one-time pur2. First, Annual chase? Even if only half of your Almost anything that can be sold, best customers switch over to the from legal services to sardine TFN arrangement, you stand to delivery, can be turned into a sup- triple or quintuple your business. ply operation over time. Try to – MALCOLM FLESCHNER switch your customers to a yearly contract, with delivery made DISCLAIMER: All articles in the every week, two weeks, month, Selling Power archive have been previetc. People are already used to ously published. Company names, peobuying such diverse products as ple’s job titles, company references and food items, books and wine on sources may not be currently accurate. an annual basis – how can you This archive is intended to be used for selling skills and sales management turn your clients into just such practices and/or as a training tool eiregular customers? ther by individuals or companies, and 3. TFN TFN stands for “Till Further Notice,” and is shorthand for the kind of strategy employed by insurance companies, health clubs

not to promote any particular company, product or service. All articles are © Selling Power Inc. and may not be reproduced, except as allowed and stated at www.selling power.com/archive.

TFN stands for “Till Further Notice,” and is shorthand for the kind of strategy employed by insurance companies, health clubs and home heating oil providers to lock in customers and increase margins dramatically. This PDF is for personal use only, not for posting on websites without prior permission by the publisher. © Copyright 2007 by Personal Selling Power Inc.

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