One of the hallmarks of highly successful companies in virtually any industry is the ability to upsell to your existing customers. Up-selling means to be able to sell more than what the customer intends to purchase. While you may not realize it, everyday your business is presented with upsell opportunities. It’s what you do with these opportunities that make the difference! Really?... Every day? …Where, when, how? …With your most targeted and attentive audience -- your callers waiting on hold! That’s right, every time you place a caller on hold, you have a captured, interested audience to whom you can advertise companion products, add-ons, and higher margin products. You’d be surprised at how much of an impact using on hold messages for suggested upselling can have on your bottom line. In fact, GlobalComm Marketing reports that businesses receive a 20% increase in requests for product/service offerings being mentioned on hold when using a professional message on hold system.
“ The best example of upselling is the fast food industry. A burger may be $1, but it's easy to upsell the customer by offering fries and a drink for $1 more. If purchased separately, the fries and drink would cost $2. Thus, the customer doubles the cost of his purchase to $2 because he perceives a value of $3. Upsell a product by telling the client how much it is worth or how it can add value to his life for "less than it usually costs."
There are numerous strategies on how to up-sell. Nordstrom's department stores are excellent at offering new shoes or a bag to accompany their dresses and suits. Professional sports teams all make substantial revenues from merchandise sold to ticket buyers. How about you? What are you doing with your upsell opportunites? Are you capitalizing and increasing the sale, or are you leaving money on the table? When was the last time you purchased a new car without at least one extra? The art of Up-selling does not require one to be pushy, but just convincing enough to encourage the customer to take advantage of the suggested product or service.
You may be saying... "Ok, but we don't sell apparel, tickets or automobiles”. We’ll take a look at a specific client example. We have a client who is in the non-medical, senior care industry. With all the baby-boomers this is a large, very competitive industry. So our seasoned copywriting staff took an in-depth look at the client versus his competition, and while they may not sell apparel, tickets or automobiles, what they do sell is: The time of caring individuals, trust, security and comfort." So, that's exactly what you should be "upselling" in your on hold script -- “Value added services”!
We buy the automobile GPS system from Ford with our new car, not because they are the only manufacturers, or even the cheapest. We buy because it's convenient, we trust Ford, and THEY OFFERED IT TO US. We buy a jersey and a giant foam finger and a $7.00 hot dog at the ballpark, not because we need any of them, but it enhances the experience, and THEY OFFERED IT TO US. The bottom line is you are presented with countless upsell opportunities. When it comes to selling companion products, add ons or even higher margin products, IF YOU OFFER THEM TO THEM, they'll purchase them.