You and your business : Upselling
Four top tips for growing your business by upselling
Whilst attracting new customers can require lots of effort and hard work, selling additional services or products to existing customers, known as upselling, can be a much more efficient way of growing your business. In fact, research shows that you’re 60-70% more likely to sell to an existing customer than a new prospect.
When done correctly, upselling is an effective way to strengthen both your business and your customer relationships. That said, it could potentially damage your customer relationships if you are constantly trying to sell them anything and everything, so it’s important to get the balance right.
We’ve outlined four top tips for successful upselling below:
1) Understand your customer
Successful upselling requires you to really understand the needs of your customers. Set aside some time to discuss with each customer what they’re looking to gain from your service. Taking the time to build your relationship with them makes it easier to recommend relevant extra services as you know what they’re looking for. For example, if you have an environmentally conscious customer, you can talk to them about the sustainability benefits of PVC-U. This will help to build up trust and demonstrate to your customers that you have their best interests at heart, strengthening both your business and your customer relationships.
2) Keep it relevant
Upselling shouldn’t be a one-way street and needs to benefit both your business and your customer. No one wants to be sold things they don’t need, so it’s important to ensure that you only upsell services that are relevant to them. If you can’t explain to a customer how the extra service will benefit their overall goals then you shouldn’t think about upselling to them. Focus your efforts on offering relevant services to customers with an obvious gap in their current plan. If a customer complains that their extension is too dark, for example, you could recommend installing a Eurocell Skypod lantern roof to help get plenty of natural light into the room.
3) Don’t overdo it
As well as keeping your up-selling relevant, it’s also important to not bombard your customer with loads of different extras. As mentioned above, your relationship with your customer is vital so it’s important not to get too carried away when upselling. You’re much more likely to make a sale if you offer one well considered solution to a problem as opposed to 10 different options, so keep your additional recommendations to a minimum, and clearly explain how the extra service will help them.
Timing is key
When it comes to finding the best way to approach a customer about additional services, it’s all in the timing. A great time to upsell is after the successful completion of a particular service, for example a big installation job that your customer is really pleased with. Providing an excellent service will make your customer much more likely to want additional work from you. Complete a debrief with your customer after each completed project, encouraging them to discuss what they’re most happy with. This will help to improve your chances of successfully pitching an upsell as you have proven your expertise already.
What are your best tips for upselling?
If you have your own tips for upselling please share them with us – we’d love to hear them over on Twitter @eurocellplc or you can comment below.