Are you looking for a marketing tactic that won’t cost a bomb. Well here’s a cracker which when applied well can work wonders. It’s called upselling and is basically when you try to sell additional products or units at the point of sale.
For example, you walk into a burger restaurant for lunch:
You: I’ll have a Big Mic meal please.
Cashier: What drink would you like?
You: Cola please.
Cashier: (and here’s the upsell) would you like to make it large for an extra 30p?
It’s as simple as that. The restaurant adds 30p to your bill, a dozen more fries and a lot more ice to your drink, and there’s an extra slice of revenue straight into the cash register for very little extra cost.
So how can you do this? Have a think about complimentary products you can offer. If you’re an architect, can you sell photographic services to clients to record their newly completed home on completion? If you’re a café, can you offer a meal deal for a sandwich, drink and bag of crisps for slightly less than the individual items. As a book vendor, how about a discount for multiple purchases?
And this leads nicely onto a whole new marketing topic – joint venturing. You don’t necessarily only have to offer products or services you can personally deliver. How about partnering with another company to deliver the upsold services? This may reduce your margins, but think about all of the other potential advantages it offers.