Profitable Up-Selling Tips

Today we learn the keys to upselling and how to make upselling work for you in your business. My friend and colleague, T. Harv Eker, started his paramount sales career in the women’s shoe department of a store. Obviously, he went on to much bigger and better things, but it was while selling shoes that he learned one of the keys to sales. One day young Harv was helping a woman try on shoes. She tried on several, decided on a few, and asked him to put them behind the counter while she shopped around the mall. He told her that was okay and put the shoes aside. He was very excited about this purchase because the woman was prepared to buy several hundred dollars in shoes. Unfortunately, that woman never came back. When selling high-frequency, low-end products such as shoes, clothes, accessories, books, etc., remember one thing, the sale has to happen “now or never.” Sell to your customers while you have their attention and then capitalize on that attention and upsell. Our three key insights for this episode all involve the beauty and strategy of down selling your products and services. We discover: How up-selling is faster, better, and easier with micro-commitments. How to apply up-selling with high-frequency “retail” purchases. How to up-sell one-time offers with a free physical offer like a book or some sort of audio. Tune in to learn how companies upsell you every day and how you can implement those same practices to greatly increase your margins in your day to day sales. These concepts work both with physical products and digital products, so you’re covered no matter how you reach your customers! In This Episode: [4:05] - Alex reveals the three key insights for this episode. [5:22] - Alex shares his history with today’s story subject: T. Harv Eker [6:22] - Harv started his sales career in the women’s shoe department at the age of 17. [7:51] - Learn one of the cardinal sins of sales through Harv’s shoe sales experience. [8:41] - With consumable high-frequency offers, like shoes and accessories, you want micro-commitments and then you want to upsell. [10:57] - Most people don’t know how to upsell, but with low-end products, it is a must. [11:53] - Alex shares examples of upselling opportunities that dramatically increase profits. [14:24] - Learn how to upsell by using special offers and programs. [16:51] - Alex moves back to ladies shoes and how you can upsell with multiple colors and accessories. [18:13] - Virtual upselling happens when you funnel your customers through trip wires and one-time offers. [21:55] - The Alexism for this episode is this, “The ripest fruits on any tree are typically the hardest to reach.” [22:22] - Alex provides a quick episode review and restates the 3 insights for this episode. [24:22] - If you’ve already given Alex a review, write down your biggest takeaway from this episode on an index card. If you haven’t, though, please use that Aha! moment as your review for the show at this link! [25:36] - In honor of this episode, Alex gives listeners a final gift. You can get a completely free copy of his book Alexisms by going to this link! You will also get free access to his $497 VBT e-Course!   Links and Resources: Alex Mandossian Alex Mandossian Fan on Facebook Alex’s Friday Live events MarketingOnline.com Marketing Online 4-Part Video Training Series Alex Mandossian on YouTube Alexisms by Alex Mandossian All Selling Aside on iTunes Alex Mandossian’s free live Friday show World’s Greatest Marketing Seminar Guerrilla Business School Guerrilla Business Intensive Harv Eker Jeff Bezos of Amazon www.supersmile.com www.marketingonline.com/book