One thing every business owner needs to know is that rather than selling being about talking, it is actually about listening. If you can do that, you are off to a great start. You need to not only be an active listener but to know how you can utilise active listening to your best advantage.
Don't worry; it is not as hard to do as you may think. In fact it's pretty simple: you need to ask the right questions making sure they are smart questions.
The line of questions below is aimed at the prospect and the strategy that follows is to help you close the most lucrative deal:
Do you want fries with that? While fries do accompany most hamburgers, this is not just a commonly heard fast food phrase. It is a surreptitious attempt at up-selling. You are offering what would be perceived as a perfect pairing - a product or service that works to compliment the initial buy, without stating it is your marketing plan.
When you introduce the pairing you must entice and excite the prospect, ultimately leaving them feeling as if Product A just cannot be without Product B. After all, who doesn't like fries with their burger?
Up-selling is an art form – never forget this. It should always:
- be related to and compliment the original offer;
- be viewed as invaluable to the customer;
- be (just about) impossible to turn down.
Employ the Rule of 25 - the up-sell product should not add more than 25% overall value to the proposed package. Consider using a "people who bought this also bought..." type of strategy.
How about now? You should always remember that in sales, timing is truly everything and getting the deal locked down at the table is what it's all about. With competition continuing to grow, you can be certain that your prospect is going to shop around. One way to out manoeuver this process is to literally ask "why not now?"
The good news is when you have a positive sales closing the ball is pretty much in your court, not the prospect's. The best way to gain this advantage is to place some pressure on timing.
Would you recommend me, this service, or this product? Recommendations and referrals don't come automatically – you must earn them. Ask specifically - would you refer me? How about this product / service; would you refer it? Why? What would you say?
Get all of the details because you will need them to make positive changes that will lead to the referral which could lead to a sale.
How about bundling it up? Inherently, people believe that package deals – also known as bundles – are a better 'bang for their buck'. Bundling also increases your market reach and opens your services or products up to a wider audience. Get creative and consider cross-promotional packages with other companies or even with your competition. Create custom made products that only compliment your existing inventory in order to offer something unique.