Taken From (http://www.freshthinkingbusiness.com)
If your business can effectively reach its existing customer base, you have the advantage of marketing to those who already know and like your business and its products and services. Your business's existing customers are aware that your business can meet their needs and wants, and with prices they accept.
The following are four major ways to up-sell your existing customers. For the following examples I will use a media business to illustrate.
As your business adds new products and services, these can be offered to your existing customers. This can be done without your having to convert these customers to your business, as they already like your business and how it operates. For example, if your media business adds media equipment to your product line, such as CD, video and/or DVD players, these can also be offered to existing customers.
If your business can effectively reach its existing customer base, you have the advantage of marketing to those who already know and like your business and its products and services. Your business's existing customers are aware that your business can meet their needs and wants, and with prices they accept.
The following are four major ways to up-sell your existing customers. For the following examples I will use a media business to illustrate.
Sell more of what your customers are already buying.
Each of your existing customrs have certain buying habits. Ideally you'll have accumulated data that allows you to reference both the specific items they purchase as well as their frequency. With this information, you can offer additional products and services in which the customer has already proved to have an interest in. For example, sell other music CDs featuring your customers' favourite recording artists, or send your customers a newsletter announcing new releases.
Each of your existing customrs have certain buying habits. Ideally you'll have accumulated data that allows you to reference both the specific items they purchase as well as their frequency. With this information, you can offer additional products and services in which the customer has already proved to have an interest in. For example, sell other music CDs featuring your customers' favourite recording artists, or send your customers a newsletter announcing new releases.
Sell complementary products and services.
Your business may have products and services that can be sold in conjunction with other products and services that can be sold in conjunction with other products and services. These items are often an easy up-sell that can be made at the point of purchase. For example, when a customer buy a music CD, you could offer them a CD carrying case or a storage tower.
Your business may have products and services that can be sold in conjunction with other products and services that can be sold in conjunction with other products and services. These items are often an easy up-sell that can be made at the point of purchase. For example, when a customer buy a music CD, you could offer them a CD carrying case or a storage tower.
Introduce non-complementary products and services.
Your current customers posses a degree of trust in your business, and this can be converted into sales of products and services that are not directly related to the customers' existing purchases. For example, a customer who typically buys music CDs can be introduced to videotapes and DVDs that provide access to the latest in recorded movies.
Offer new products and services that your business has added.Your current customers posses a degree of trust in your business, and this can be converted into sales of products and services that are not directly related to the customers' existing purchases. For example, a customer who typically buys music CDs can be introduced to videotapes and DVDs that provide access to the latest in recorded movies.
As your business adds new products and services, these can be offered to your existing customers. This can be done without your having to convert these customers to your business, as they already like your business and how it operates. For example, if your media business adds media equipment to your product line, such as CD, video and/or DVD players, these can also be offered to existing customers.
"Introduce non-complementary products and services." is one of the most underutilized sales tactics used by merchants. You can go out of your product category once in a while if you find a great product. If you need to source new products to sell to your customer base, check out the NMOA product deparment. http://www.nmoa.org/products You can find new stuff to sell all the time.
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