Upselling and cross selling are the two major types of selling techniques. Judicious use of these techniques can lead to improved sales and better bottom lines. However, use it in the wrong place and you stand the risk of losing a loyal customer. So what is upselling, cross selling and how to go about it?
Upselling
Upselling takes place when a salesperson encourages or pushes a customer to purchase products of higher value. The main objective of upselling is to increase the profitability of a sale. The sales person follows such techniques because the company usually provides rich incentives, awards and promotions to successful up sellers. Upselling can be beneficial, however if it's done too much, it can lead to a loss of loyal customers. Usually, it is employed with the existing customer database. Successful upselling needs an accurate delivery of strong English conversational skills.
Sample Upselling conversation:
Situation: A client comes into your TV store. He checks the display and is on the verge of settling for 18 inch LED TV. Your aim is to sell the 23 inch one, which is pricier and profitable.
You: "Hello Sir, I see you have made up your choice. Am I right?"
Customer: "Yes. I would like to know the price of this 18 inch TV?"
You: "Certainly, it costs about Rs. 16,000. But, before we proceed, may I ask what your living room size is?"
Customer: "It's about 700 sq. feet. Why?"
You: "Sir, in that case, I will suggest the 23 inch TV, which will be more suitable for your space type."
Cross Selling
Cross selling happens when the sales person comes to know of an additional need while in a negotiation or a casual conversation. Cross selling is all about taking advantage of a situation quickly. You need to be attentive and smart to recognize when a client will need additional services. Use your English conversational skills to quickly interlace an opportunity in words. The benefits of cross selling can be huge and financially rewarding. Utilize your English strength to capitalize on such opportunities. Cross selling happens more in banks than any other business.
Sample Cross selling conversation:
Situation: You are the loan manager of ICICI bank and are discussing home loan terms with a customer.
Customer: So what are the details of your home loan?
You: You can take a home loan that starts from Rs. 5 lakhs comes with easy EMI options from Rs. 800 as well. The interest type and rate can be fixed as per your convenience.
Customer: I want an EMI option that will not hinder my dream of owning a car.
You: Not to worry Sir. Our home loans are flexible and systemized. In fact, why don't you check out our car loan facility? We can work out an arrangement for you by which you can achieve both your dreams at the same time.
Upselling and marketing are communication intensive techniques. Your English communication should be perfect and fluent in order to convince a prospective customer of additional sales. Take the help of an online English course if you plan to make your career in the sales and marketing domain. You will then be confident in any type of sales technique.
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- By Monika Agarwal
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