Most small business owners look for additional sales in increased advertising and marketing. But there are other strategies to explore and some unique methods of driving more sales in your business without turning up any additional customers.
One of those strategies involves up selling - offering additional products to the sales of your current buying pool. You're not having to locate new first time buyers . . . you're simply selling more to those who buy a product.
You can understand how this strategy is a real bonus to your business. For the same amount of advertising and marketing cost and effort, you're selling a greater volume of goods; hence, your per customer value is increased substantially and, at the same time, your cost per product is reduced.
There is a logical way to handle follow-up sales.
First, you only want to offer products or services that are related to your business niche and that are a logical extension to serving the customer at whatever stage he is currently sitting in at your business.
For example, let's say you run a business related to the hobby of metal detecting. You just sold your customer a basic book on how to purchase a metal detector, how to use it, and how to profit from what you find.
As a follow-up product, you wouldn't want to offer this customer an online course entitled "How to Become a Travel Agent in 8 Weeks." The subjects have nothing to do with each other and the chances of your customer being interested in becoming a travel agent are miniscule.
If you do this type of marketing, you'll soon be labeled as a common promoter, one interested only in hyping products for whatever profit you can derive. You won't be seen as a true expert in any one niche.
Instead, why not develop an e-book or other information product along the lines of "The 100 Very Best Locations in Any City to Find Hidden Metal Treasures." There is a logical connection to the product your customer originally purchased, and the one you're now offering your customer.
You can to certainly make the case that by offering a second follow-up product; you are just trying to help the customer get better utility out of his original purchase. What good is a metal detector if you don't understand where the best places are to use it?
Second, you should try to offer the follow-up product as close to the purchase of the original product as possible. The more time that elapses between the two purchases, the more likely your customer will be to forget all about your business, and maybe even the original purchase.
Strike while the iron is hot. Sell the customer the additional product while he is still "stoked up" about buying the first product.
I know some marketing specialists that say the very best time and place to offer the up-sell is right on the order page where clicking one button adds the additional product to the shopping cart. It's totally convenient for the customer and it takes advantage of his current "purchasing" frame of mind.
Third, think about offering the second product as a "thank you" incentive for buying the first. You might extend a 30% discount off the normal price of the follow-up product if the customer orders it at the same time he buys his original product.
He may feel this really is a bargain because he now has two useful products that will complement each other at a significantly discounted cost from buying each separately.
Fourth, you should try to move the customer up the ladder of price points in your business. Say, for instance, that his original purchase was for $27 for the product you originally sold. The up-sell product would typically be more expensive than the first. You want to lead the customer in a logical step-by- step progression so he is comfortable purchasing larger ticket items from your business. The real money to be made will come from the loyal customers that are making regular large-dollar purchases.
Fifth, even if you are not able to convince the customer that he ought to buy an additional product right now, you will have leveraged your contact with him and put the thought of a follow-up product in his mind. There will be other times to ask for this additional sale.
Finally, even if you don't have additional products to sell, this may be an excellent time to generate additional income by offering your customer a related product that you are an affiliate for. If you really are offering something of solid value for the customer, he will thank you for keeping his needs in mind. Why not get paid for simply referring your clients to other excellent services or products?
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