UP-SELLING - THIS IS MAGICAL
Have you been to McDonald's lately? Did they ask you if you wanted to go large? This is a classic example of up-selling. Basically if you spend an extra 30p with them McDonald's have earned extra profits at no extra cost.
McDonald's have spent a lot of money on their marketing and advertising to get you to the point of purchase and while they have got you there they want your extra cash before you leave.
If 20% of all McDonald's customers say yes to the up-sell that is going to make a big difference to their profits, and if you can get 20% of your customers to spend more with you it will make a big difference to your profits.
You can use up-selling in exactly the same way in your business and the best time to up-sell is at the exact moment when your customers say they want to buy.
What can you up-sell? Large chips is probably not going to be a good idea but there must be a more expensive version or option of what you are offering.
Here are a few ideas of what you can up-sell:
A more expensive brand of brick. An exclusive conservatory.
Complicated driveway patterns. A more expensive boiler. Chrome fittings etc.
You are not looking to sell things to your customers that they do not want, you simply want to offer more expensive options so that you can earn extra profits from the transaction. I promise you if you go to the effort of offering an up-sell a proportion of people will buy.
When I first implemented this strategy I was astounded, I once quoted a customer for some advertising materials and I also offered him a more deluxe version of the same thing at double the cost, my colleagues laughed at me and said that he would never go for it, but guess what? He went for the most expensive option and he was very happy with his goods, we made a lot of additional profits at no extra cost, I have been laughing ever since.
