Activate Second Sale to Boost Profits

(2) generate more profits; and (3) make your buyers even

more satisfied with their purchases.

The problem is that most businesses and salespeople get so excited about the much-needed first sale that they are obliv- ious to and untrained in taking advantage of this additional opportunity. Because they lack proper training and errone- ously believe that people buy on price, companies often do not attempt this second, easy sale. But your buyers will actu- ally use ancillary purchases to support their first decisions; it?s a phenomenon that?s verified every day. Just visit Rodeo Drive in Beverly Hills. I dare you to find a person with only one bag in his or her arms. Or recall the last time you went to dinner and complained about the cost of that one special entrée you wanted to order. Yet once you agreed to reward yourself with that special entrée, you then continued to add other items. You asked to see the wine list, you splurged on an appetizer? you even ordered dessert. And you added all of these mere moments after fretting over the cost of the entrée.

No one is exempt from this inherently human ten- dency to spend additional money once the floodgates (or wallets) have been opened. People seem to use this second purchase to justify the earlier one. You can use this all-too- human habit to consummate the second sale by doing the following. Once the first sale is made, agreed upon, and closed?and after you have taken the time to congratulate the customer and acknowledge the purchase?suggest other possible add-ons to the first purchase. Even sensitive pros- pects who are on strict budgets will take you up on these second offers to justify their initial decision.

Again, make sure to suggest the additional service once the agreement has been made?not before. For instance, let?s say that you sell advertising and that you?ve put together an advertising campaign for a client?s company. Once you have made your presentation and proposal, agreed on price and terms, gone over the particulars, and closed the deal, congratulate the client and reiterate how helpful this pro- gram is going to be for him or her. Then suggest that the client increase the number of times he or she is going to run the ad or do a press release in addition to the initial ad. This second sale is easy, builds value for your client, and increases profits for your company.

Let?s say you sell furniture and have made a living room sale that includes a sofa, two chairs, and a coffee table. Once you have solidified this sale and assured the purchaser that he or she will love it, say, ?May I make a suggestion? This rug and lamp fit perfectly with what you are getting today and greatly complement the other furniture. I think

they give the room an even more completed look. What do you think about adding them to your order?? Or, let?s say you?re selling clothes to a buyer who has agreed to pur- chase a suit, shirt, and tie. As you?re ringing him up, you might want to say, ?Congratulations. I know you are going to love these. May I suggest that you add this pair of shoes, a second tie, and these two shirts to keep this suit looking fresh all the time? It will allow you to create three outfits instead of just one.? Wait for him to ask how much. Most of the time, you will get part or all of this second order. If he agrees, congratulations?you just made another sale without having to work with another customer! Double down and double up, as they say in Vegas.

Remember: Second money is easier to get than first money, and these add-on sales allow you to maximize the time, energy, and effort you?ve already put forth. You have increased your sales without increasing your customer count?something that?s critical when there are fewer customers. This technique lets you increase the average dollar value of each project 25 to 40 percent or more with virtually no extra effort. I often look for ways to add ancil- lary assignments to the primary one. It?s good for me, and good for my clients. I get more work, and they get a more complete service. Try it yourself. I promise that it works! Your goal is to advance and conquer, and that requires that you make the decision to maximize every opportunity to increase your business. This will not be a time to rely on the economy in which you live and work. This commit- ment requires action and creativity.

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Date: 2016-06-12; view: 111