A good salesperson never wants to leave their customer without making the best sale they can. So you need to learn the art of the upsell. And, for that matter, of the cross-sell and the down-sell.
The Book of the Course!
Sales Skills: A Management Courses Introduction
This book gives a broad introduction to the topic, for managers and professionals who don’t want or intend to specialize in sales and selling. And as a fast start for someone needing to make a start in selling, for whatever reason.
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Watching this video is worth 3 Management Courses CPD Points*.
🔎 See below for details
Sales and Selling Skills
This video is part of course module 8.4.3
Program 8: Managing Customers and Clients
Course 4: Sales / Selling Skills
Section 3: Selling Techniques
Other videos in this section include:
🎬 You Need a Sales Strategy: Which One?
LESSON NOTES
An upsell is when you can persuade your customer to buy a more expensive product or service than they had already planned.
A cross-sell is when you can persuade your customer to buy an additional product or service that is related to the one they have already committed to buy.
A down-sell is where someone has declined to buy your product or service offer. So, you offer them an alternative product or service, at a lower price
6 factors combine to make upsells, cross-sells, and down-sells particularly easy and effective online:
1. User tracking and big data
2. Marginal costs of sale are low
3. Automation
4. Multiple tiers
5. Abandoned cart
6. Once hooked...
An order bump is an add-on product (a cross-sell) that your customer can add from directly within the order page. So, when they have confirmed a purchase, before the website processes payment, you can offer an additional product or service before your customer hits the pay button.
Why this works so well…
1. Commitment and Consistency
2. Weber's Law
RECOMMENDED EXERCISE
1. Next time you are shopping - look out for the upsell, cross-sell, or down-sell (1 MC CPD Point)
2. Notice the impacts that Commitment and Consistency, and Weber's Law have on you (2 x 1 MC CPD Point)
3. How can you implement these ideas into your own sales process? (2 MC CPD Points)
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RECOMMENDED READING
There are many books that introduce sales and selling. These are the ones I have, and can recommend:
📖 To Sell Is Human
⭕️ Links to our book recommendations are affiliated through Amazon and help support our free videos
Managers Need a Basic set of kit to do your job well. Here are my top recommendations:
(the links are affiliated)
MANAGEMENT COURSES CONTINUING PROFESSIONAL DEVELOPMENT (CPD) POINTS
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Each video has two levels of MC CPD points. For this video:
- If you simply watched the video, record 3 MC CPD points
- If you also carried out all of the recommended exercises, score a total of 8 MC CPD points
CHAPTER MARKERS
00:00 - A good salesperson…
00:26 - Upsell, Cross-sell, Down-sell
00:37 - You’ve done the hard work…
01:12 - Why do we Upsell?
01:57 - What is an Upsell?
02:36 - What is a Cross-sell?
03:57 - What is a Down-sell?
05:15 - Upselling, Down-selling, and Cross-selling online - why it works so well
05:35 - Reason 1
05:59 - Reason 2
06:19 - Reason 3
06:33 - Reason 4
06:54 - Reason 5
07:08 - Reason 6
07:32 - What is an Order Bump?
07:55 - Why do Upselling and Cross-selling work?
08:37 - Weber’s Law
10:23 - Commitment & Consistency + Weber’s Law
#ManagementCourses #Sales #Upsell
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The Miller Heiman Strategic Selling Methodology Robert Miller and Stephen Heimann were the founders of the hugely successful sales training business, Miller Heiman (no part of Korn Ferry). Their sales methodology focuses on Strategic Selling. The Book of the Course! Sales Skills: A Management Courses Introduction This book gives a broad introduction to the topic,
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You Need a Sales Strategy: Which One? If you want long-term success in anything, you need a strategy. And this is never more so than with sales. The Book of the Course! Sales Skills: A Management Courses Introduction This book gives a broad introduction to the topic, for managers and professionals who don’t want or
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How to Qualify Your Sales Prospects Prospects are the people or organizations that might, one day, buy from you. However, all prospects are not equal. So, we need to assess how likely they are to buy, and if they do, when. That way, we can make intelligent decisions about how much time and resources to
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What is the Sales Funnel? The Sales Funnel is one of the most fundamental concepts in selling. So, in this video, I want to answer the question What is the Sales Funnel? The Book of the Course! Sales Skills: A Management Courses Introduction This book gives a broad introduction to the topic, for managers and
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5 Components of a Powerful Sales Attitude A powerful sales attitude for any salesperson consists of five components. Let’s see what they are. The Book of the Course! Sales Skills: A Management Courses Introduction This book gives a broad introduction to the topic, for managers and professionals who don’t want or intend to specialize in
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Sales Success Tips: Sales Do’s & Don’ts In this video I share an armful of great tips to boost your sales effectiveness. The Book of the Course! Sales Skills: A Management Courses Introduction This book gives a broad introduction to the topic, for managers and professionals who don’t want or intend to specialize in sales
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Master Selling: Why People Do and Don’t Buy People buy for emotional reasons. They may justify their purchase on things like cost, convenience, performance, or sustainability. But, deep down, it’s all about how these things make them feel. Let’s look at the emotions that make people buy, and the things that will stop them. The
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After-Sales Activities [Sales Process Part 9 of 9] The last step in the sales process happens after the sale. But it is important to understand that there are after-sales tasks that, if they get forgotten or are not done well, will compromise the sale you worked so hard to achieve. The Book of the Course!
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Handling Objections to the Sale [Sales Process Part 7 of 9] If you don’t get objections to your sales pitch either you got it just right, or they aren’t interested. Objections are usually a good thing. So, it pays to become adept at handling objections. The Book of the Course! Sales Skills: A Management Courses
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Presenting Solutions [Sales Process Part 6 of 9] The part of the sales process that people think of as ‘selling’ is the step where you present solutions to meet your prospect’s needs. This is what we’ll look at in this video. The Book of the Course! Sales Skills: A Management Courses Introduction Get the kindle
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Diagnosis: Diagnosing the Customer’s Need [Sales Process Part 5 of 9] The first stage of the actual sale part of the sales process is diagnosing what your prospect needs or wants – and understanding which is which. This is the investigation, or diagnosis, stage of the sales process. The Book of the Course! Sales Skills:
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Opening the Sales Meeting [Sales Process Part 4 of 9] You have made a connection with your sales prospect, and you are ready to start selling… But, hold on. Let’s first open the sales process formally, so we all know where we are. This is the Sales Opening. The Book of the Course! Sales Skills:
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Sales Meeting Rapport Building [Sales Process Part 3 of 9] When your sales meeting starts, do not go straight into selling mode. People buy from people, so your first priority is to create some basic human contact. Start (or extend) your relationship with some basic rapport building. The Book of the Course! Sales Skills: A
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Pre-Sales Activities [Sales Process Part 2 of 9] You have prospects, but it would be foolish to dive in and try to sell to them immediately. You need to prepare, and this is where the three pre-sales activities come in. Watching this video is worth 2 Management Courses CPD Points*. 🔎 See below for details
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