Upselling is a sales strategy in which a seller initiates add ons, more expensive products or related products that may potentially interest the buyer to purchase more. For instance, a client interested in buying a brand new LED television may opt to buy a DVD home theater system to compliment the entertainment needs that a buyer wants or needs. This in turn will help boost the sales of the company.
There are many ways on how to upsell which in turn can help formulate the type of upselling spiel that one should develop. For instance, when one is focusing on complimentary products one can develop a spiel that says something like, “one way to complete your needs is to buy this other product so that you can enjoy the full features of the product.” If on the other hand, one wants to focus on savings or discounts, you can formulate your spiel as follows, “you can save more with this product. It has better specifications, it is a new model and you get a better discount or better deal in buying this product.” This type of upselling is especially effective to price sensitive customers who wants to get the most out of their money.
It goes without saying that another way to upsell is by evaluating your customer’s needs or wants. The agent should try to assess what type of customer he/she is currently dealing with and better identify the correct more products that better fits the personality of the customer. For instance, if you find a customer who looks like a social climber and values prestige or exclusivity in products and brands he/ she buys, the agent should immediately capitalize by offering the most expensive product where less people can afford. In which case, one can develop a spiel that sound like this, this product is limited edition. One can opt to mention celebrities who owns that kind of product. For instance, this product is also used by Paris Hilton, which projects the idea that the product is purchased only by rich and famous people.
In lieu of the foregoing, it is critical that an agent must have a comprehensive knowledge of one’s products and services including complimentary products, upscale products, and substitute products. The agent should also know the value of the products including its features. It is also important that the agent knows certain pricing options and discounts that a customer may be entitled to enjoy. Finally, the agent needs to know other aspects of the products which forms part of the services that one will need to provide such as installation, maintenance, warranty and after sales support among others.
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