Category Archives: Sales
If you’re in sales, you know that it’s difficult to pull in a new client or buyer. Whether you’re in retail or insurance, it isn’t always easy to convince a potential customer to pull the trigger and make the purchase. This fear of rejection is probably the thing that’s holding you back from ONE easy thing that will increase your sales exponentially: upselling.
Upselling might sound like an ugly word (you might think of a car salesperson saying “But for only $40 more each month, we’ll throw in a…”), but there is a way to do it tactfully and honestly. Upselling involves introducing an improvement or an upgrade. You might upgrade to a faster laptop, a more powerful fishing boat motor, or a more durable set of kitchen knives.
I certainly don’t advocate selling a customer something that they genuinely don’t need. When you upsell (or cross-sell, which involves introducing a relevant but different product), do it with the customer’s needs at the center of your mind.
Why upsell? For one, upselling works 20 times better than cross-selling. Once potential buyers are fixated on a product, they don’t really want to be distracted by something else.
Secondly, your customer might not be aware of the benefits of upgrading to a different model. They might not realize, for instance, that a kitchen pan that’s $10 more than the one they are currently considering is known to last three times as long and tends to cook food more evenly.
Third, if your customer is already interested in a product, it doesn’t hurt to introduce them to a better model (again, if you genuinely think they would benefit from it). You’re already making the sale, why not make a better sale?
So, how can you tactfully and honestly incorporate upselling in your sales game? Try these five tips:
1. Arm yourself with knowledge.
If a customer is interested in a certain type of camera, for instance, be prepared to tell them about their full range of options and why the next model up is better. Anticipate questions and be prepared with candid answers.
Be sure to listen carefully to your customer’s needs before trying to upsell. It could be that a bigger, better product is not necessary for this particular person.
3. Make it easy.
If you’re in a retail setting, make sure the best products are prominently visible on the sales floor and easy to access for a demonstration. Customers should be able to easily tell the difference between a base model and the souped-up version.
4. Honesty is key.
Don’t fudge the facts. Don’t push a sale that won’t benefit the customer. Your potential buyers are usually savvy enough to see through an act and, if they’re not, they will wise up quickly once they realize that the product you sold them doesn’t fit their needs at all. Do you think they’ll send any friends or family members to you after that?
5. Be confident.
Upsell with confidence. You should be proud of the products you sell and stand by their worth. Let that confidence shine! (And if you’re not confident about the products you’re selling, it may be time to start hunting for another sales position!)
Try incorporating upselling into your sales strategy and see where it will take you. It’s the easiest way to increase your sales and demonstrate the full range of product opportunities to your customers. What’s holding you back?
For more in-depth sales advice and career counseling, please get in touch with Margaret today.
MARGARET SMITH IS A CAREER COACH, AUTHOR, INSIGHTS®DISCOVERY LICENSED PRACTITIONER, FOUNDER OF UXL, AND CO-FOUNDER OF THE TAG TEAM. SHE HOSTS WORKSHOPS FOR PEOPLE WHO NEED CAREER OR PERSONAL GUIDANCE. YOU CAN VISIT HER WEBSITE AT WWW.YOUEXCELNOW.COM
Tags: business coach Margaret Smith, cross-selling practices, honest sales, improve sales, Listening, Margaret Smith sales, sell tactfully and honestly, trick to improving sales, upselling practices, You Excel Now coaching
How can you get one person to act? How about a bunch of people? How about an entire movement? Great leaders can inspire this kind of action. They lead revolutions and motivate people to buy their products. There is something different and powerful about great leaders. What is it?
Leadership expert Simon Sinek attempts to explain.
“People don’t buy what you do,” Sinek said in a recent TED Talk, “they buy why you do it.” You have to believe in your product or cause so deeply that it inspires others to believe as well. It’s the principle that Martin Luther King Jr. used in his activism. As Sinek says, Dr. King had an “I have a dream” speech, not an “I have a plan” speech.
If you’re not driven by belief and you don’t know why you do what you do, why would anyone else buy into what you do?
The principle makes sense and has been proven over and over again, from Apple to the Wright Brothers. If you have a few minutes, I highly recommend watching Sinek’s TED Talk. It will make you ask yourself, “Why do I do what I do?”
For years, we’ve been taught to hone our elevator pitches—those thirty-second sound bites about ourselves that are theoretically meant to engage a complete stranger. The problem? The typical elevator pitch usually comes across as canned and overly-salesy. The eyes glaze over, the listener makes any excuse they can to get away. You might manage to shove a business card into your listener’s hand before they dash away…
It’s not surprising that this kind of approach doesn’t work. But, what does?
According to international sales speaker Kim Duke, you should ditch the traditional elevator pitch in favor of storytelling. Tell a little something about yourself in story form. Make it interesting and unique.
What should your story involve? According to Kim Duke:
- PEOPLE. You’re not talking about gadgets and services – you’re talking about people. It is conversational, interesting to listen to.
- CURIOSITY. You lead with something that captures their attention – something that they are struggling with.
- DON’T SOUND CANNED. There’s a difference between being passionate or being an actress. If you’re too dramatic, or too flat – people TUNE YOU OUT both ways! Practice your introduction but don’t sound like a robot.
- GET TO THE POINT. What is your claim to fame? This is where you can include a little Zip (e.g. My clients on average increase their sales by 50% or more.)
- CALL TO ACTION. People should feel inspired to want more, learn more, go to your website, ask for your card…make them think!
And don’t forget to LISTEN to what others have to say. A good listening ear can go a long way.
Remember to always be your authentic self when telling your story. Don’t stretch the truth or just “tell ’em what they want to hear.” Lay out your story and practice it in the mirror or with a friend. That way, you’ll feel more natural when the time comes to actually talk to a potential client. Above all, be yourself!
“A good salesperson knows how to talk; a great salesperson knows how to tell a story.” –Rivka Willick, story coach and writer
It is human nature to listen to and trust stories. Ever since we were children, we’ve been surrounded by narratives—on television, in movies, in books, from our grandparents. Sure, stories are fun, but they are also powerful and there are scientific reasons as to why people are attracted to stories. According to neuroeconomics pioneer Paul Zak, “Stories that are highly engaging and contain key elements — including a climax and denouement – can elicit powerful empathic responses by triggering the release Oxytocin. Often referred to as the ‘trust hormone,’ this neurochemical promotes connection and encourages people to feel empathy.”
So, how can you use this powerful technique to gain trust and win sales? Here are a few methods:
- Keep it relevant
It’s great if you have an amazing story about fly-fishing in Montana, but is that really what your prospective wants to hear? Instead, focus on the material you’re presenting. How can you bring it to life with a relevant story? Perhaps you have a tidbit about how your product positively affected someone? Or maybe you have an interesting story about the products’ development or value? Brainstorm and jot some ideas down on a notepad. Then, run them by your co-workers or friends to gain their input.
- Have a beginning, middle, and end
This point may seem obvious, but it is absolutely crucial. Storyteller Kambri Crews said in an interview with Entrepreneur.com that, “The beginning should hook your audience, while the end, the call to action, must be clear.” If your story is jumbled, your prospective client may have trouble deciphering the main message or become disengaged.
- Remember the “elements of a good story”
Sales Benchmark Index has some great advice on using basic storytelling elements to create a compelling tale. They break down a story into the Hero, Stimulus, Conflict, Crossroad, and Moral. Here is an explanation of the elements:
- Sympathetic main character, AKA the Hero. The audience should be able to see themselves in the hero and the situation.
- The Hero encounters a Stimulus, which leads them in the direction of resolution or transformation.
- Tension or a Conflict is exposed. Our Hero now must maneuver challenges and obstacles.
- A Crossroad where the final transformation takes place. In your Use Case this is where the customer purchased your solution.
- The final chapter in the story is referred to as the Moral of the Story. The Hero has navigated the Conflict and appears transformed in an ideal state.
- Practice, practice, practice
Like most things in life, you have to practice your pitch in order to perfect it. First develop it on your own and practice giving your pitch in front of a mirror. Then, practice with others, allowing them to interrupt or make comments (which is likely to happen in a real-life sales situation). Practice sounding natural and unrehearsed and don’t forget to let your body language be relaxed, open, and friendly.
Need help developing your story? Feel free to contact me for guidance.