An up-sell is a sales technique where a seller encourages a customer to purchase a more expensive or upgraded version of the product or service they are considering. This can be done by highlighting the benefits of the additional option or by bundling complementary products or services together. The primary goal of up-selling is to increase revenue and profit. By convincing customers to upgrade or add to their purchase, you will generate more sales from each customer. Your customers may be willing to pay more for additional features, better quality, or enhanced benefits. For example, a fast-food restaurant may offer to up-sell customers to a larger combo meal or to add extra toppings to their burger. Similarly, a software company might offer customers a premium version of their product with additional features or support services. In both cases, the upsell increases the total amount the customer spends, leading to higher revenue and profit for the business. Comment below and tell us the up-sell your company offers and what added value do they add for your customers.
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Follow to get relevant/current business strategies! Hiring and Recruiting for Executives, Sales Training, Sales Strategies, Leadership and Executive teamwork training. | Book a Calendly meeting in my contact info! Cheers
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Our insights show that McDonald's has yet to significantly move the needle on customer perception of price and value. According to our VP of Strategy Andre Benjamin, “In our feedback flow, price is among the top three most selected reasons why a customer likes or dislikes a QFC brand. Clearly, price is top of mind for customers — it should be top of mind for restaurants, too.” See more insights into McDonald’s in Julie Littman’s Restaurant Dive article.
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Increase Average Order Value. Have you ever heard of Cross Sell or Up-Sell? Let's take an example: Cross Sell- Fast food restaurants asking: “Do you want fries with that?” Up-Sell- A customer is about to check out with a bottom-tier phone, you can offer an upgrade for a mid-range or premium phone, which helps to increase your average order value. Now you have some idea. #upselling #crossselling #digitalmarketing #AverageOrderValue
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