Up-selling makes the selling of services easier and increases the value of existing and new customers. This article explains what up-selling really means.
Up-selling is where you attempt to sell a customer a higher value product or service. It could be an existing customer who is already using the product or service and selling them a bigger or better version. It could also be selling potential customers a more valuable solution to the one they originally had in mind.
An accountant receives an enquiry for outsourced payroll and up-sells a full outsourced accounting service
A Virtual Assistant up-sells a ‘Pay-As-You Go’ client onto a monthly retainer package
Sometimes different customers will want different levels of service. You can create multiple packages with different service levels. A classic approach is creating Gold, Silver, and Bronze packages.
Each package is the same at its core but has different benefits and costs associated with it. The sales effort will include up-selling to a more expensive package where appropriate.
This approach can be applied to most products or services with a little creativity. It is effective because it actually serves the market better. Its like the difference between having a ‘one size fits all’ T shirt and offering Small, Medium, Large, XL etc. You have multiple sizes that better fit the customer’s specific needs. The only difference is that you charge more for the larger sizes!