Upselling
Upselling
Upselling is the process of trying to entice a customer to make a more expensive purchase. This could involve offering a more advanced version of a product, additional upgrades to a product, or add-ons that would drive the price of a product up. It concerns advertising a more profitable product or service that could provide more value to both the customer and the company.
Why does TrackMaven think that Upselling is important?
Upselling provides companies with the opportunity to increase the revenue they receive from a single sale. Sellers can offer customers more profitable products or services that may interest the customer more than the original sale. Sometimes, a customer might have need of a feature or add-on, and simply does not know that a company offers it. By informing the customer of additional features, a business could make the customer aware of his/her need and sufficiently entice him/her to make a more expensive purchase.
Although it has the potential to increase sales profits, businesses need to ensure that their attempted upsells do not negatively impact their relationships with customers. Pushing too hard and trying to force an upsell on a customer can make that customer uncomfortable. Forceful tactics could discourage customers from conducting future business with a company if they felt hassled by the sales staff.