In business, of course there are ups and downs that will be experienced. Also when your business is idle, of course you have to make a strategy to improve the situation. Do you have to improve the quality of the product or provide an attractive promo for its purchase?
In order for sales to increase, there must be progress from your business. To achieve the desired increase, you need to reach a large number of front people in various ways such as advertisements, promotions and attractive offers of the products you sell.
These methods may be able to increase the level of effectiveness of your sales. However, you also need to experiment by trying other strategies such as upselling strategies.
Understanding Upselling Strategy
Upselling is a strategy to sell and market a product or service with above average and even premium quality. This strategy can convince customers to spend more money on your product.
With this strategy, it is certain that sales will generate greater revenue. Perhaps there are still many who confuse the notion of upselling with cross-selling. It is clear, however, that upselling only involves products of improved quality.
Upselling Strategy for Product Development
To execute a sales plan in an upselling way, you need the perfect strategy to get the desired results.
1. Promote Relevant Upsell
You need to understand the type of upselling customers will prefer rather than simply making irrelevant upgrades. Many people make a mistake at this point. For example, when customers buy apples, make sure the quality is sweet so that customers are satisfied and interested in buying oranges.
2. Focus on Customer Needs
Upselling strategy cannot be applied to all customers. You must know the needs of these customers before offering an upgraded product. Consider an upselling strategy that is really accommodating to meet customer needs.
For example, when a student wants to buy a laptop to work on presentation assignments and papers. Product offerings that have advanced specifications for professional design and video editing are certainly not right for their needs. That way, the upselling strategy that you offer will not work.
3. Offer Discounts or Promos
Most people don't buy the product because the price is too expensive. Try to offer discounts so that potential customers are interested in the products you sell. People will be attracted by the discounted price. However, that doesn't mean you have to give away the product for free.
Determine the discount appropriately without reducing the profit from selling the product. If not, you can provide other promos such as free shipping without shipping.
4. Maintain Consistent Values
In the upselling strategy, it is not enough just to complete the buying and selling process. You must pay attention to what is desired and maintain the image of the product in the eyes of customers. Understand the future sales prospects of the product with existing customers.
In fact, getting new customers is more complicated than keeping old ones. Upselling to existing customers can help you reach your sales targets in no time.
5. Pay attention to the price difference
Be sure to maintain a decent price ratio while offering upgrades to your services. This is one of the most common upselling strategies, but it is often overlooked.
Avoid offering mediocre products to upgrade at exorbitant prices. This will have an impact on the customer experience and feedback. Offer prices with quality upselling products at the best prices, so that your company's reputation is maintained.
6. Create Urgency
Give your customers a promo offer that expires very quickly. time bound. Tell them why they should take advantage of this period to buy your product. Remember to price wisely and be aware of the products that people are more likely to be interested in.
For example, for the price of an online movie subscription with free and paid versions. Usually, there will be a limited discount to welcome the New Year's holiday. Customers may be interested in subscribing because they will spend their holidays watching movies with their family.
7. Do Follow Up
Remember that upselling will continue after the sale and purchase transaction. It is very important to follow up these customers with information about the latest promotions for your products. Don't let your customers go to your competitors' side for lack of follow-up.
Consumers and the cost element pose an increasing challenge to pricing as it is also important to the sustainability of the product and the company. Through the Marketing Pricing Strategy program, the company's stakeholders are expected to be able to gain an understanding of the basic aspects of pricing that benefit the company.
In business, of course there are ups and downs that will be experienced. Also when your business is idle, of course you have to make a strategy to improve the situation. Do you have to improve the quality of the product or provide an attractive promo for its purchase?
In order for sales to increase, there must be progress from your business. To achieve the desired increase, you need to reach a large number of front people in various ways such as advertisements, promotions and attractive offers of the products you sell.
These methods may be able to increase the level of effectiveness of your sales. However, you also need to experiment by trying other strategies such as upselling strategies.
Understanding Upselling Strategy
Upselling is a strategy to sell and market a product or service with above average and even premium quality. This strategy can convince customers to spend more money on your product.
With this strategy, it is certain that sales will generate greater revenue. Perhaps there are still many who confuse the notion of upselling with cross-selling. It is clear, however, that upselling only involves products of improved quality.
Upselling Strategy for Product Development
To execute a sales plan in an upselling way, you need the perfect strategy to get the desired results.
1. Promote Relevant Upsell
You need to understand the type of upselling customers will prefer rather than simply making irrelevant upgrades. Many people make a mistake at this point. For example, when customers buy apples, make sure the quality is sweet so that customers are satisfied and interested in buying oranges.
2. Focus on Customer Needs
Upselling strategy cannot be applied to all customers. You must know the needs of these customers before offering an upgraded product. Consider an upselling strategy that is really accommodating to meet customer needs.
For example, when a student wants to buy a laptop to work on presentation assignments and papers. Product offerings that have advanced specifications for professional design and video editing are certainly not right for their needs. That way, the upselling strategy that you offer will not work.
3. Offer Discounts or Promos
Most people don't buy the product because the price is too expensive. Try to offer discounts so that potential customers are interested in the products you sell. People will be attracted by the discounted price. However, that doesn't mean you have to give away the product for free.
Determine the discount appropriately without reducing the profit from selling the product. If not, you can provide other promos such as free shipping without shipping.
4. Maintain Consistent Values
In the upselling strategy, it is not enough just to complete the buying and selling process. You must pay attention to what is desired and maintain the image of the product in the eyes of customers. Understand the future sales prospects of the product with existing customers.
In fact, getting new customers is more complicated than keeping old ones. Upselling to existing customers can help you reach your sales targets in no time.
5. Pay attention to the price difference
Be sure to maintain a decent price ratio while offering upgrades to your services. This is one of the most common upselling strategies, but it is often overlooked.
Avoid offering mediocre products to upgrade at exorbitant prices. This will have an impact on the customer experience and feedback. Offer prices with quality upselling products at the best prices, so that your company's reputation is maintained.
6. Create Urgency
Give your customers a promo offer that expires very quickly. time bound. Tell them why they should take advantage of this period to buy your product. Remember to price wisely and be aware of the products that people are more likely to be interested in.
For example, for the price of an online movie subscription with free and paid versions. Usually, there will be a limited discount to welcome the New Year's holiday. Customers may be interested in subscribing because they will spend their holidays watching movies with their family.
7. Do Follow Up
Remember that upselling will continue after the sale and purchase transaction. It is very important to follow up these customers with information about the latest promotions for your products. Don't let your customers go to your competitors' side for lack of follow-up.
Consumers and the cost element pose an increasing challenge to pricing as it is also important to the sustainability of the product and the company. Through the Marketing Pricing Strategy program, the company's stakeholders are expected to be able to gain an understanding of the basic aspects of pricing that benefit the company.
