When is the best time to sell more? Now!

When is the best time to sell more? Now!

Written By Jeffrey Gitomer
@GITOMER

KING OF SALES, The author of thirteen best-selling books including The Sales Bible, The Little Red Book of Selling, and The Little Gold Book of Yes! Attitude. His real-world ideas and content are also available as online courses at www.GitomerLearningAcademy.com.

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When is the best time to sell more? NOW!

Picture this… You made the sale. Everyone’s happy. The customer is ready to sign the document because he loves you, loves the product, loves the company, and can’t wait to take ownership. His wallet is open, or his checkbook is open. There is plenty of extra money. But you in your anxiousness or nervousness to “make the sale,” leave all the extra money on the table.

Up-selling or add-on-selling is the single biggest lost opportunity in amateur salesmanship.

Up-selling can be defined in one word: Ask. Want another word? Question. Want another one? Suggest. Another? Recommend. All of these words make up the core of the up-sell process.

And up-sell is the sister to a referral — both are sales-after-the-sale. Both are “in addition” to what you already have sold. The big difference is that up-sells are NOW and referrals are later. Both require asking or further engaging — but the referral can also be earned (no ask).

Both referral and up-sell are sciences that must be mastered to maximize use of time and dollars of profit.

What could you up-sell? What can you add to an order? What else can you ask for when a customer places an order? How much more could you earn by doing that? I think the answer is “lots.”

Every business has options. Not just upgrade a model to a better (higher priced) one.I mean sell a car and up-sell prepaid repairs and a warranty. Or sell a suit and up-sell a shirt and a tie. Cell phones have covers, batteries, and chargers. Appliances have warranties. Restaurants have drinks, appetizers, and desserts. Even UPS and FedEx pile on the insurance.

What is it for you? What could you, or better stated, what SHOULD you be adding to your orders? Do you have a list? Do you have a GREAT way to add them.

The up-sell sales theory is: Once the wallet is open, empty it.

The customer is in a buying mood. He has already made up his mind and is open to any suggestion that will help him. It all rests on your ability to engage, combined with how much trust you have built.

Think about how you buy. As soon as you make up your mind to buy that pair of shoes or sweater, you’re looking around for “what else.” Or if the clerk makes a suggestion, you’re all ears (or should I say, all wallet)

Wanna make more “up-sales?” Or better stated, not making enough of them? A strategic advantage can be had by the way you ask for the up-sell. Look at the classic model:

There is the same old same old question you hear at any 7-11 type convenience store, “Anything else?” This is a feeble attempt at up-sell. Too generic. And usually not even answered. People just lay their money on the counter.

Now, let’s look at the classic example of up-sell in modern business, “Do you want fries with that?” Billions of dollars in revenue have been generated from that single question. Possibly the greatest up-sell question ever invented. It’s a specific request. And many are likely to just say “OK” without even giving it a second thought. This question has been upgraded to “value meals” and other mutations. But the classic example will reign supreme. Everyone reading this, maybe everyone in America has heard that question, and has responded in the affirmative. That’s powerful. And it’s money in the bank.

If the convenience store employee would say, “most people forget cigarettes, a bag of chips, and something to drink. What have you forgotten?” The additional cash results would be staggering.

There are two options in up-sell. You can ask or you can tell. Asking is more genteel, but telling has more power (if you are confident you are helping, not just piling-on)

Up-selling or should I say, the lost science of up-selling, is broken down into forms or elements. Here are a few to contemplate:
Recommend. I think you should also get…
Suggest. You might also want to add…
Consult. I have personal experience with this and I urge you to…
Question. Have you thought about…? Have you ever tried…? Do you know about…?
Power Phrases. My experience has shown me…, the best value is…, the most profitable way is to add…
Make it a deal. If you buy another I will discount…
Comfort them. Most people take…., everyone else uses…,
Ask. Do you want…? Would you like…?

This seems so simple. So, why doesn’t everyone do it? The reason is that up-selling is not top of mind awareness. And sales people are busying thinking about the next thing. Oftentimes, in retail sales or catalog sales or inside sales, the other phone is ringing, or a customer is waiting and you have no time to add profit or more profit to the sale. Big mistake. Or the big mistake of management thinking they can have less salespeople, or pile up salespeople with paperwork. This is not only a big mistake, this is a stupid mistake. Saving pennies as you flush dollars down the toilet.

Free GitBit… Want a specific example of up-sell? I created one for the restaurant business that you can ADAPT to your business. Go to www.gitomer.com – register if you’re a first time user, and enter the word UPSELL in the GitBit box.

Jeffrey Gitomer, author of The Sales Bible, and Customer Satisfaction is Worthless, Customer Loyalty is Priceless. President of Charlotte-based Buy Gitomer, he gives seminars, runs annual sales meetings, and conducts internet training programs on selling and customer service. He can be reached at 704/333-1112 or e-mail to salesman@gitomer.com