This is How it Impacts Your Business…
Are you unwittingly limiting the amount of business you are doing with your clients? You must be thinking “Who in their right mind would deliberately ‘limit’ client buying?”.
This does not happen on purpose. I know it is hard to believe, but many business owners are unwittingly guilty of this. Chances are that it is even happening in your own business, right now.
Reflect upon this, are you doing everything in your power to deliver all the benefits and choices they could be getting from you and would pay for?
Honestly – could your clients be gaining more value, benefit, protection, or advantage out of each transaction they make with you? If the answer is yes, you could be overlooking a lot of untapped revenue that could potentially take your business to the next level of success.
Thus, this article aims to help you to brainstorm on alternatives and supplements that you could provide to improve your client’s contentment. Ultimately, it would boost the value of every transaction they make with you and translate into an exponential growth in your profits!
How up-sell effortlessly
Clients turn to you as the industry leader and trusted advisor. They trust and respect your ability to fulfil their respective needs and wants.
Therefore, given that they responded positively to your offer, the responsibility lies on you to serve them to the best of your ability. You owe it to them to research on how they can derive the greatest benefit each time they purchase from you.
After you close a sale, it is the opportune time to make an extra sale – especially if there is no doubt that your client would benefit from buying your “package deal.” If do the up-selling right and offer them irresistible value, chances are that 60% of all clients will buy into it.
Give Your Clients the Best End Result
In this section, we will touch on 3 simple techniques that would aid you in delivering greater benefits to your current clients. Even at a discount for them, while simultaneously injecting more money into your business.
Add Products and Services
Always give your clients the option to add-on items that are related to the items bought from you. Pick items that when packaged together with your own items would increase the level of pleasure or significance of the ultimate result, expediently.
Add Volume or Time Options
Always decipher what the optimum quantity and quality levels for clients to purchase your goods/services in order truly meet or even their expectations.
In addition, determine if they would want the service to automatically continue then systemically add that option. Don’t limit their options to a lower quality or quantity or shorter duration than they need or desire. Trust me, they would be grateful!
Package and combine your goods and services into one convenient purchase decision. The results would give your client’s the end result they want.
Notice that the emphasis is on the “end result” that clients desire. Many business owners fail to realise that clients do not buy products or services. In fact, they buy the end results.
As a seller, you need to realise that buying a product or a service is just a means to an end. The end bring that they believe your offerings would help fulfil the feeling of safety, accomplishment, convenience, pleasure, economy, or self-esteem.
Always focus on the End Result
Someone who buys a camera, for example, doesn’t really just want a camera. More than that, they seek to capture their most pleasurable memories forever by indulging in the pleasure of taking beautiful pictures.
By keeping in mind your client’s desired “end results”, you can help them achieve their end results more completely, conveniently and efficiently. How? You would know exactly which products and services to add on to help clients. Additionally, it saves you having to hard sell or impose artificial limits on how much your clients buy from you – which, in the end, doesn’t help either the client or you.
Therefore, product and service add-ons are such an important aspect to cover in your business. It gives you the opportunity to provide greater value, which ultimately leads you to a superior “end result” for your clients. This leads to superior client satisfaction; thus this would result in more repurchasing and more referrals.
The best way to offer add-ons is giving it away at a good discount! Clients who purchase more of a product or service receive better prices, while you increase your margin.
The best part? The hard work has already been done for you! Your clients have made the choice to buy something from you, reflecting that they have placed their trust in you. All you need to do is continue building it!
Add on products and services
Look at auto dealers, they have put this simple theory into practice with a vengeance! Instead of simply selling cars, they offer their prospects the opportunity to “add on” a stereo system, security devices, car phones, extended warranty and all sorts of other options to the primary purchase.
Typically, these are offered after the client has decided to buy the vehicle – be it a car, truck or van. This is by no means an act of exploitation clients while they are still feeling the elated about their new-car ownership.
The auto dealers are merely coming from a place of understanding that the car buyer want is not just a new set of wheels, but a total personalized transportation package.
These buyers not simply buying mobility or convenience. In fact, they are also buying a sense an improved level of well-being, a traveling lifestyle they desire. Many are even making a statement about their status with their purchase. These are all part of the end result that the client truly desires.
However, if the client couldn’t get those added services or products at the dealership in one transaction, they would desire to purchase it elsewhere.
The likelihood is that they would have to buy them piece-by-piece, inconveniently, and at a higher cost later on. Hence, this amazing, mutually beneficial one-stop-shopping experience is a win-win situation for both the dealership and their clients. And the dealerships attain more revenue from selling add-ons than they do from selling cars.
Add-on Opportunities Abound
Let’s say a store sells computers, and someone comes in and is enticed to buy Computer A. What if the store owner knew of an extra program or a special mouse that would make Computer A a superior performing purchase for his client? So what does he do?
Firstly, he focuses on helping the client decide that he or she indeed wants to buy Computer A. Once that decision is made, he then offers him or her the opportunity to add on the software or printer. This would be at a far more discounted rate than if the client came back and bought those exact items at any point in the future.
Then, he will demonstrate to the client what it would be like operating a computer 50% faster and being able to perform 3 times the functions in half the time. The key insight here is to be proactive, rather than reactive. This attitude solidifies the client’s respect and buying loyalty.
It doesn’t end there. Due to his perceptiveness the store owner recognizes that many people won’t want to haul the computer home, then be left to their own devices to try and make it work. Hence, he offers to deliver the computer, set it up and demonstrate it for a handsome fee.
He even throws in software for different family interests, making an extra $150 of profit. Consumers purchase computers for what their ability to enrich their lives, and they often need help in understanding the best way in which to do that.