Did you know that you can create, in the mind of your customer, a monopoly? You can deliver your goods and services in such a way that, they will never consider the option of going to another company to get the services you offer. This can be created if you’re intentional about it and upsell them.
Upselling to your customers is a critical part of the lifecycle marketing process. It is re-converting your customers. This step focuses on the idea of selling more of your products or services to each one of your customers.
Let me share with you an example;
If you go to a clothing store and buy a men's suit, do they typically only sell you a men's suit?
Of course not. They try to sell you a tie, pocket square, belt, shoes, and more.
At the same clothing store, you attempt to buy a dress. Do they just sell you the dress?
Once again, of course not. They will try to sell you shoes, a purse, belt, a scarf and more accessories then you could possibly need.
The same goes with your product or service.
Are you getting the maximum pounds added for each of your customers?
Are there things that you sell that your customers would like to buy after their initial purchase from you?
Do you know all services and or products that your customers need?
Do they know all the products and or services that your company has to offer?
You need to find the answers to all these questions at this stage in the process.
Do you know which company is the world's greatest at up selling?
That company is McDonald's. Every time you buy something from them, they will typically say to you, "would you like fries with that?" Do you have any idea how more 'stuff' McDonald's sells just because they ask you?
It's a very big number. If it wasn't, do you really think they'd keep asking?
There are six things that you must get right in this phase of Life Cycle Marketing:
Welcome them with a bang.
Maintain a relationship of WOW to create a monopoly.
Get answers to the questions I have asked above and increase the frequency of how often your clients do business with you.
Increase the average transaction size.
Keep your customers longer; keep them for life.
Ask for referrals (not accidental referrals but intentional referrals requested at the right time).
We will look at this last point in more detail next.
We have some great tools and free resources that can help you systemise your business and free up your time, so you can grow your business strategically.
Until the next time.
About the author
I am a Certified Value Builder, C- IQ Coach, Author, and approved Business Growth specialist, providing expert, tailored business and executive coaching in London and the UK.
I am passionate about business and service excellence, and I want to connect with the owners of SMEs, managers and corporate executives in the private, public and third sectors; individuals who are looking to achieve superior performance, and obtain guaranteed service improvements results, and increases in turnover and profitability.
There are two things EVERY business owners wants!
This e-Learning Marketing System was specifically created to provide all small business owners with the tools, resources and support they need to accomplish both of these goals.
I’m currently doing research for a new book I’m writing based around my 45 min business turnaround. What I do is typically charge my clients £1300 for a 45 min business turnaround where I essentially find £10,000 hidden in their business within 45 mins of sitting down with them. Not a bad investment when you consider I will quadruple their investment in 45 mins.