As we recently discussed,
long-term customers provide many financial benefits to your company. In fact, strengthening current accounts is one of the most effective methods of boosting profits. Recruiting new clients usually costs a pretty penny, so many world-class organizations focus on increasing up-selling and cross-selling to current customers instead. Unfortunately, many salespeople avoid these techniques because they are afraid that suggesting additional products or services could scare off customers. However, as long as you follow a few basic strategies, as outlined below, you can successfully cross-sell and up-sell to your current customers.
1. Identify the Roles of Individuals in the Buying Process. The administrative assistant may actually put in the order, but he or she doesn’t set the budget for office supplies. Get to know the different roles in your clients’ buying hierarchy. Understanding your clients’ buying hierarchy, will help you pinpoint where you should spend your cross-selling and up-selling efforts. Don’t be afraid to ask your contact who is involved in decisions.
For the rest of the steps see Customer Engagement News
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