Nothing can be more frustrating than to wait for customers and to make a debut in ‘regular’ sales. Initially, it might appear that there is some more effort required or need to improvise a bit more, but once all the check boxes are met; your wait for sales becomes frustrating.
Revenue is the lifeline of any business and the flow of it comes from regular sales. You need to build a list of loyal clientele which comes from providing them the best services. It is a tough job but the results are for long term. New customers need more time and costs to lure them to the business.
For this you can try the upselling, cross-selling and down-selling to increase the revenue. We will discuss about them in detail later, before that you need to understand that these techniques increase the business value, inject oxygen in the revenue flow and increase the conversion rates.
Now, let’s understand the 3 important terms which one should know to ring in sales
- Upselling- Up-selling is a sales and marketing system where you try to convince a customer to purchase a more expensive item that he actually wants to buy. For example if you client wants to buy casual T-shirt, you convince him to buy a much better and high end one.
- Cross selling- Cross-selling is an additional way of increasing the sales by suggesting an additional product to a customer. If the customer is buying a t-shirt, you convince him to buy a lint remover as well.
- Down selling- it is implemented when the client is backing out of sales and so in bid of not to lose the client, you show them the cheaper and less costly version of products. This is quite tricky as the main aim of business is to make profit and to sell high end products to increase the margin percent.
However, there are many other ways for which you can hire the experienced and qualified help to ring in sales.