Wednesday, February 5, 2014

Learn How Upselling Techniques Can Double Your Business Profits Literally Overnight


Upselling? You would often hear about this in entrepreneurship seminars or from your business coaches or textbooks.

But by this I don't mean 'bait and switch tactics' - telling them a low price and then hitting them with a much higher price when you get there. By upselling I mean selling your clients more stuff.

Don't think of upselling as a way to squeeze more money out of your clients. Only add services that provide value and improve the quality of your clients system.

For example, your client needs a new furnace. You could just stop there but think of all the other improvements you could make. Maybe the first upsell would be a more efficient furnace. Next, a programmable thermostat to provide your client even more energy savings. Or maybe an electronic air cleaner or a humidifier.

All of these products add comfort and improve the air quality. Maybe new ductwork is in order to improve air flow to certain rooms. While we're at it, it could be the best time to also replace the central air conditioner. How about a ground source heat pump? The list just goes on and on.

Another upsell would be an annual service contract or perhaps an annual duct cleaning if you offer that service. Never use scare tactics to upsell such as without a CO detector you could die from carbon monoxide poisoning. But be sure the client knows all the advantages of the upsell products.

Overwhelm them with the benefits of the additional services and products you offer. Give them tons and tons of proof. It is usually better to have too much than not enough. Educate your clients and they'll usually make the best decision. Following this section is an example of a letter that can be used to upsell various products. This particular letter is for electronic air cleaners but the style could be adopted for other products too.

Preferably, mail a letter like the one that follows with something you are already mailing to your Clients. This way your postage is minimal to none and all the sales are profits. This letter will sell electronic air cleaners. Plus, after receiving it many people will call for other services you offer. It may generate as much other business as it does electronic air cleaners. It is easy to do a similar type letter for programmable thermostats or similar products.

The sample letter for an upsell that I talked about earlier, would be in Part 2 of this article series.

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