Would you like fries with that.. And why you need an upsell strategy!
If you already have an upselling strategy... Congratulations you are ahead of many!! If like many others you don't, or you upsell only occasionally please keep reading.. Everyone knows that McDonalds is one successful business, obviously there are many reasons for this, however one aspect of their success is due to their successful upsell strategy. They are constantly trying to upsell and cross sell- whether its an increase in size, upgrading to a meal package, or adding fries.
So how can you use this practise for your business...
- Figure out your 'related' products - Are there products that go together? That improve the value of each other? Find out which products are the next level up - Perhaps they want a 15inch screen - you can try and sell them the 17inch. These products are generally more expensive or with better profit margins - These products will become the products that you upsell.
- Are there small value products that you make good margins on, that you can sell like the 'Would you like fries with that?' This could be cases for computers, a warranty for a particular service, or a small gadget that enhances the product.