Up Selling or Complete Selling:Let’s Sell Just One More Thing : Up Selling or Complete Selling:Let’s Sell Just One More Thing http://www.flickr.com/photos/cgoulao/407196929/ Customers Desire Up Selling : Customers Desire Up Selling One of the common blocks for most sales people is that they perceive up selling as irritating & undesirable to customer
On the contrary customers desire cross selling & up-selling
88 percent of customers value service reps who suggest alternative products or services that better meet their needs
73 percent are interested in learning about new products or services the company is promoting
61 percent tend to ask service reps about these products and alternatives
Customers not only engage in sales discussions with service reps, but they also buy
42 percent of customers said they purchased additional products or services “sometimes” or “frequently”
Worldwide Survey of Consumers by The Forum Corp. Slide 3: http://www.flickr.com/photos/peoriaphoto/176296901/ Up Selling Helps the Customer : Up Selling Helps the Customer When you Up-sell it's a way to further help your customer…to be more powerful, to enjoy more benefits, to maximize the usefulness of the products or services
You are making informed suggestions as a knowledgeable representative
Why don’t you open an FD to put in your excess cash in the bank account
You are apprising customers of options they may not be aware of
Offer – Buy 2, Get 1 Free
You are often anticipating future needs
A tie to go with the 3 piece suit that you have brought Up-selling is Complete Selling : Up-selling is Complete Selling Up selling is "complete" selling
If you are selling a matching tie with the three piece suit, uncovering a need by asking the question leads to complete selling
From the customer's standpoint, completing a satisfactory purchase
Saving his an additional trip to buy the tie Slide 6: http://www.flickr.com/photos/18727335@N02/2742524821/ Why Complete Selling : Why Complete Selling Why complete selling is so profitable: Caselet
Customer buys a bike with EMI of Rs. 395 for 48 months.
Very little resistance to adding Rs. 10 to the monthly payments for anti-theft locking system.
For you, however, that additional sale is significant,
Adds up to a Rs. 480 sale, with a huge profit margin.
It only takes 30 seconds to make that extra 480 sale, then you're making more money for the company than with any other activity you do.
If your salary is Rs. 30 per hour then doing the math, the 60 seconds you take to up-sell costs the company about 50 paise.
If it only costs the company 50 paise to make Rs. 480, that's a huge return on investment.
The fact that it's attached to a 25,000 sale is completely irrelevant.
So, complete selling is one of the highest and best uses of your time. Complete Selling: Types : Complete Selling: Types Sell more of what your customers are already buying
Customers have certain buying habits OR generally there are some hot selling items (based on sales data)
Other music CDs featuring your customers' favourite artists
Software companies are buying training in grooming & etiquette
Sell complementary products and services
Products that can be sold in conjunction with other products
Fries/Potato Wedges with Burger
Easy up-sell that can be made at the point of purchase
Music CD + CD carrying case
Introduce non-complementary products and services
Current customers posses a degree of trust in your business and this can be converted into sales of products not directly related to the customers' existing purchases
customer who typically buys music CDs can be introduced to videotapes and DVDs Complete Selling :Points to Note : Complete Selling :Points to Note Ensure that the customer is satisfied with first sale
Factors most strongly affect their willingness to consider purchasing additional products or services.
Satisfaction with current purchase
How well additional products or services fit the customer’s needs
Focus on customer needs-not yours. Sell with integrity
Don't try to sell the customer something you wouldn't buy if you were ‘them’
It’s easy . It is a ‘by the way’ presentation
Since it's done after the customer has decided to go ahead with a purchase, the hard part of the sales conversation has already been done.
You've got to assume that the customer will naturally want this. Begin the up sell with a brief benefit, then if possible, add something unique about what you're selling.
Up-selling is just presenting the information in a "by-the-way" assumptive manner Complete Selling :Points to Note : Complete Selling :Points to Note Be prepared with positive aspects when selling expensive alternatives. Customers will ask why they should choose these
Why should I buy Polaroid glasses instead of plain
Recognizing sales opportunities is a matter of observing ‘body language’ and ‘reading’ customers
Signals to look for : uncertain body language, looking around, scanning the counter , hesitation in ordering, or studying menus for a long time
Excellent service would be to go and sell to these customers
Remain in Control
One of the key phrases that will end a large, multiple-item sale with a whimper rather than a bang is…‘Would you like anything else?' This is not proactive and does not put you in control."
Instead, says salespeople should take the lead.
Some phrases :
Would you like [product X] with your [product Y]. (Example: A Pepsi to go with Crisps.) Three Mistakes in Complete Selling : Three Mistakes in Complete Selling The 3 biggest mistakes :
No attempt is made to up-sell or cross-sell
The salesperson comes across as being pushy
To avoid sounding pushy, particularly if the up-sell requires some elaboration, ask for the customer's permission to describe it
Continuing to sell after the customer says he’s not interested
The up-sell is made in an unconvincing manner so the customer generally refuses
Service through sales not ingrained
Little product knowledge
Emphasizing features rather than benefits
Selling something that the salesman would not buy himself Slide 12: http://www.flickr.com/photos/giuera-fashion/2267007998/ Master Sun Projects Large & Medium Cap Companies : Master Sun Projects Large & Medium Cap Companies “You see, all the right things are written in books and research papers.The trick is to ensure that there is no gap between what is written in the books and your vision; from what is happening on the shop-floor and what is going on in the marketplace.That is execution. That is what makes the difference”Mukesh Ambani : “You see, all the right things are written in books and research papers.The trick is to ensure that there is no gap between what is written in the books and your vision; from what is happening on the shop-floor and what is going on in the marketplace.That is execution. That is what makes the difference”Mukesh Ambani www.mastersungroup.com
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