According to HubSpot’s 2022 Sales Strategy Report, the third sales goal for sales professionals in 2022 is to prioritize relationships with existing customers over new ones through upselling and cross-selling.
When it comes to both strategies, 88% of sales professionals upsell, 79% cross-sell, and only 27% downsell. So, it might be helpful to brush up on the terms.
- Upselling encourages the purchase of an upgrade, improvement , or premium option that would make a customer’s purchase more expensive. An example is offering a customer to add cheese to their burger.
- Cross-selling encourages the purchase of an additional product or service that would complement a customer’s main product or purchase of interest. The most basic example is encouraging customers to order a milkshake with their burger.
- Downselling offers prospects a lower-priced, more budget-friendly alternative .
►How do reps increase sales?
An essential factor in upselling is making sure you get the timing right.
For example, upselling a customer on the third day after purchase might not be as effective as upselling a customer with a history of success and gambling data malaysia who achieved their goals with your product.
As a result, the best times to upsell are after a customer therefore effective link development can has achieved their goals, after you’ve identified a problem or need that you know your company can solve, and when you’ve set goals with the customer.
When reps sell more, the most effective strategies are:
- Understanding Customer Needs and Goals (Here Are 50 Key Questions to Ask)
- Establish trust and rapport (the most important strategies are to be attentive and engaged, stay positive, and find common ground).
- Offering discounts and promotions such as referral packages or bonuses (offered by the highest quality leads)
How do reps cross-sell?
When reps cross-sell, they are most effective when:
- Offer discounts/promotions
- Recommend related or complementary products
- Email follow-ups
Upselling and cross-selling overlap when it comes whatsapp filter to discounts and promotions, and the most effective types are bundles of a set of products, customer loyalty programs, extended payment terms, extended usage terms, and free shipping.