Monday, July 1, 2013
What Is Your Flight Plan For Business Growth - Part 3
How To
Increase The Value Of Each Transaction With Your Clients
Car companies will always advertise a new car for a 'base' amount, yet how many times have you paid just the advertised price when buying a new car?
Maybe like the
majority of people buying a new car you purchased a few or many extra items
like air conditioning, automatic sun roof, rust protection, scratch protection,
upgraded security, upgraded music system, extended
warranty, financing etc... The list goes on.
Maybe when
going to dinner with a budget in mind you increase the value of transaction
when presented with a better wine than you first considered or when the waiter
tempts you with the dreaded (but tasty) desert menu.
When the
global toy company named Matel gets you to buy a Barbie Doll, the Barbie comes
with only one outfit. How many parents have made additional Barbie purchases
including, more clothes, car, house, the Ken Doll etc. And surprise, the Ken
Doll comes with only one outfit.
Telecommunication
companies offer much more than a standard phone line. They additionally offer
you phones, Internet, fax, call waiting, voice mail, cable T.V, automatic
callback, additional lines for computers, security systems etc.
No telecoms
company holds a gun to their prospects and clients. Instead, they are typically
very effective at offering 'add-ons' and 'upgrades', then people purchase these
because of the better performance and results they offer.
You might be
selling yourself as an employee knowing that increased salary is a by-product
of your management's perception of your value to their business. Therefore,
find something that no other employee across your company is doing (or doing
well) and voluntary add to your current responsibilities.
Every time a
person or company purchases from your business, you have an immediate
opportunity to increase the value of that transaction!
Your motive
must be benevolent and not self serving. This
strategy is not just to add to your short term profit. Instead, this is about
helping your client to gain the optimal number of benefits and outcomes from
your products / services.
During the
1930's the Kraft company tried to market and sell a low priced cheese powder,
but the public were not interested and sales were a failure.
One of Kraft's
sales reps from North America thought 'outside the box' towards unloading his
allotment of powdered cheese. His simple, yet brilliant and profitable solution
was he added individual packets of cheese powder into the boxes of Kraft
macaroni which were selling successfully.
The
salesperson then convinced grocery retailers to sell their customers the
concept of the 'Kraft Dinner'. This concept became so successful the Kraft
company added this 'all in one' dinner to their product line.
How did this
simple solution work in the long term? Recent research shows that more than 55%
of main meals in homes across the United State of America are per-produced.
You have both
the opportunity and responsibility to introduce your prospects and clients to
every option that relate to the benefits and outcomes they hope for.
Introduce your
prospects and clients to 'add-ons' (aka - cross selling) and 'upgrades' to help
them graduate to a more sophisticated or superior option to better serve their
goals with your product / service. They don't have to buy 'add-ons' or
'upgrades', yet you have an obligation to introduce and demonstrate the
improved performance and outcomes.
It's as simple
as incentivising your prospects and clients to trade up!!!
If you do your
part well, then in addition to your client be more impressed and satisfied with
the preference and outcomes the better product / service gives them, your
business makes more profit!!!
Evidently
there are many additional ways to increase the value of your client
transactions and so, look out for our next newsletters.
All the best with your business!
If you would like to discuss how to improve your organisations capability in the areas of Leadership, Communication, Presentation & Sales then simply contact us for a complimentary, no obligation conversation.
Go to www.EffectiveCommunication.com.au to find out more
If you would like to discuss how to improve your organisations capability in the areas of Leadership, Communication, Presentation & Sales then simply contact us for a complimentary, no obligation conversation.
Go to www.EffectiveCommunication.com.au to find out more
Posted in
Communication Training,
Leadership,
Presentation Training,
Sales Training,
Training
by effectivecommunication.com.au
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