The title of this blog post is probably the most well-known up-sell of all time. McDonald’s has sold billions of hamburgers, making them billions of dollars. But, a simple question like, “Do you want fries with that?” which takes no more than five seconds, has easily made them billions more than hamburgers alone.
Up-selling is one of the easiest ways to increase revenue, because you’re taking someone who has already agreed to buy your product and offering them just a little bit more. This weekend I was buying a new golf bag (a treat for consistently breaking 90). I had no intention of buying anything else, but when I got to the counter with my bag, the clerk asked me if I needed any golf balls or tees to go with the bag. A logical question, seeing as I had mentioned that I was on my way to the course. So, I decided that yes, I did need some golf balls and tees. With a simple question, the clerk had turned my $150 purchase into a $180 purchase. A seventeen percent increase in revenue! The key was that he wasn’t pushy. Had I said no, I don’t think he would have tried to convince me otherwise. But, I did need golf balls and tees and because he reminded me of that, I spent an extra $30 in his store.
At Suited Productions, my media production and marketing company, it is standard operating procedure to offer additional services to our clients. Many people come to us for video production, but end up buying video production and a marketing strategy for their video. Rarely, does someone just want a video once we pitch our marketing campaign for that video. It’s a simple up-sell that takes almost no time at all, but it raises our bottom line significantly and adds value to a product that our client was going to buy anyway.
How can you start up-selling in your business? How much more revenue could you bring in by simply asking, “Would you like _______ with that?”
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Great point! At my boutique we have customized bags for transporting your shoes without scuffing the leather. Any time someone buys a pair of shoes we offer the tote bag to them and most of the time the customer purchases one (only $8.00). The bags cost us very little, so it is a great added stream of income to any shoe purchase.
I’m enjoying what you’re doing here!