Up selling - selling a more expensive but better item than the customer first wanted.
Simply show the customer a widget that's better, bigger, or faster than the one they was considering -- but with some special consideration such as a substantial discount, more favorable payment terms, extra options, or accessories.
If you become known as a business that delivers incredible values, you can't lose. Remember, people can't resist a bargain. Offer to sell the higher-priced model with a larger discount than the moderately priced one. Everybody wins here. The customer gets a much better value, and you get a bigger sale.
You're taking a smaller percentage of profit on the higher sale, but you're probably making more actual dollars. Plus, the customer is usually thrilled with the great deal. As you get a lot of business from word of mouth – this is a great way of getting even more sales.
That's where the magic comes in. Make certain the customer is happy. Don't try to sell the customer something that's way out of their price range. They'll end up resenting you for it.
Don't get greedy! If you get greedy and try to "bleed" your customers, you'll end up losing big in the long run. Just show them something that is slightly better that what they looked at first of all – don't pressure of hard sell. Let your offer speak for itself.
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© Copyright 2006 Biz Guru LLC Lee Lister, writes as The Biz Guru, for a number of web sites including her own sites http://www.BizGuru.us and http://www.clikks.com for all our informational products.
With over 20 year's management and business consultancy experience with businesses large and small as well as being a serial entrepreneur, she now helps others set up, develop and market their businesses.
This article may be freely distributed if this resource box stays attached.
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