Don't be emotional about money - it's just a tool that can help you build your Dream Business. Get crystal clear on your 'needs' and then be willing to ‘invest’ in your future to reach your goals faster. The hard truth is if you’re not 100% committed to your goal, and willing to put skin in the game, chances are you won’t get there.
Success leaves clues. Think about some successful entrepreneurs you know and ask yourself these questions:
- Do they talk with confidence?
- Do they make excuses? • Do they worry about what others think? • Are they action takers or do they put things off? Think about how you would answer these questions about yourself.
All customers are not created equal, and using a standard ‘promotion or discount’ for everyone makes no sense. While every customer should get a great ‘wow’ experience, those who are more loyal, those that spend more and refer more, deserve more.
There are three questions you want to prepare a ready and compelling solution for. Answer these ahead of time and you will see your revenues and profits grow.
- What else do my clients want if they accept my initial offer?
- What can I offer them right now?
- What can I find to offer them that I myself don't have, but could obtain from another business?
If a customer chooses a particular item, can you find a compelling reason to induce them to upgrade and buy something that costs a little more (up-selling) and brings you a little more profit? If so, will your offer be in their best interests or yours? This is a key question. If you take the philosophical standpoint that "I'm here to do what is right for the customer," then you will likely begin to win more customers than you can count. However, if you're selfish and think, "I'm going to get as much money out of this customer as I can," then you will lose more long-term business than you can even begin to imagine.
Second, for each item that you sell, think of complementary items that you might offer that would make the offer more attractive. If you're ready to give compelling reasons why a customer should buy something else from you, then you have understood the concept of cross-selling. Fast food restaurants offer a soda at a "special price" for a cross-sell because the profit margin on sodas is so high.
Proper Timing - The best time to ask your up-sell / cross-sell question is AFTER the customer has committed to the initial purchase, but just before they pay for their purchase. Once they commit they're instantly in a purchase mindset. But after they pay for their purchase, they have mentally closed the transaction.