There are 2 ways to increase the size of the sale per client … either by
- Up-selling; or
Up-selling is when you sell the same product but increase the size or its value. For example, you may pack the product in larger volumes or change the shape of the container. How often have you seen the shape of your favorite beer can or soft drink can change? … from a solid top to a rounded top – what happens to the volume that used to fill the solid portion? How often has your favorite washing powder changed from 250 grams to 300 grams … or 1kg to 1.5kg or more?
You could even manipulate the amount of product used. For instance, the 2 famouse examples are …
- Baby powder – research was done to see how many times a ‘mom’ shook the baby powder cannister when changing a nappy or bathing her baby. Did it make any difference if the holes were made bigger … guess what … no it didn’t! She still shook the baby powder the same way and the baby powder manufacturers made larger profits!
- Toothpaste – most users squeeze toothpaste across the top of the bristles of their toothbrush. Research was done to see if there’d be any difference in the amount the user would use by having a larger hole on the toothpaste tube … guess what … no it didn’t!
In most cases, you can guarantee that users don’t change their habits! Any sales person will tell you that ‘resistance to change’ is the biggest objection they face in closing a sale.
This is all about ‘clever’ marketing. How you package your product is very important and can make a substantial difference to improving your bottom line by increasing the size of the sale to your client.
Naturally, there’s always reasons to increase your value (price or cost) of your product or service … increase in fuel prices, increase in raw materials prices, etc. As long as your clients still feel they are ‘getting value for money’, they’ll keep buying your product or service.
Cross-selling is when you sell a complementary product to your main product. For example, have you ever paid just the advertised price for something? … or do you buy a few extra items. For instance, if you buy a car … do you include a radio, air-conditioning, security system, sunroof, warranty package or financing?
These ‘accessories’ are a great way to increase the size of the sale to your client. For greatest effect, you need to introduce the ‘extras’ at the stage when the buyer is actually buying. This is when the buyer is in the ‘buying mood’ or ‘buying zone’.
Other complementary products would include …
Nappies with baby powder
Toothbrushes with toothpaste
Fertilizer with a lawnmower
Frequent-flyer miles with air tickets
… and here’s a ‘cheeky’ one … a small cookbook filled with hot and spicy recipes from a Pharmaceutical company that manufactures anti-acid tablets!
… the list is endless! But it’s very important to keep cross-selling to items RELATED to the main purchase.
Whatever your choice is in increasing the size of the sale to your client, your strategy must be well-thought-through with the goal being based on generating more income for your bottom line.
I’d love to have your input and questions … as I’m sure many others would, so let’s have your comments below.
QUOTE OF THE DAY …
“Deploy yourself carefully to maximum advantage; always invest your energies
where you can get the highest return..”