Cross-selling and upselling are powerful sales techniques that can increase your revenue, customer satisfaction, and loyalty. However, they also come with some challenges, such as facing objections from your prospects or customers. How can you handle these objections effectively and persuade them to buy more or upgrade their purchase? Here are some tips to help you.
The first step to handling any objection is to understand what it is and why it is raised. Is it a genuine concern, a misunderstanding, a lack of information, or a stall tactic? You can use open-ended questions, active listening, and empathy to uncover the root cause of the objection and address it accordingly. For example, if your customer says they don't need the additional product or service you are offering, you can ask them how they plan to use the main product or service, what their goals and challenges are, and how the additional product or service can help them achieve or overcome them.
1. *Listen actively:* Let the customer express their objection fully without interruption. Understanding their concerns is crucial to addressing them effectively. 2. *Acknowledge their concern:* Show empathy by acknowledging their objection. Let them know that you understand their perspective and that their concerns are valid. 3. *Provide relevant information:* Offer information or benefits that address their objection. Explain how the additional product or service can complement their initial purchase and enhance their overall experience. 4. *Highlight value:* Emphasize the value proposition of the cross-sell or upsell. Focus on the benefits they will receive rather than just the additional cost.
Look at what Chris Voss (ex-FBI negotiator)and Josh Braun (BD Sales guru) say about objections. When you sense resistance don't work to overcome it. Instead join it! Look to understand and learn why what they have or are considering appeals to them. In the understanding you may find a real opportunity to add value and in curiously listening you unlock trust.
In my experience, cross-selling and upselling success is often tied closely to information I can gather from my customer success team. Once an opportunity is identified within the account, I make sure that i've communicated with my success team to get as much info on the client as possible. Understanding recent escalations and the recent history of the client equips me for any objections that may come up during the upselling/cross-selling process. See if you can be ready for the objections before they come up, chances are you can figure out 90% of the objections before the meeting has begun.
In my opinion the consumer is not a moron she is your wife! I didn’t coin that but the credit goes to sir David Ogilvy! What makes a lot of sense on this topic is what can go as a bundling product as while you are looking to buy a phone you at the same time become a customer for 3 additional products ie a nice screen, may be a stand for viewing OTT channels etc and a wireless charger. Bundling is of tremendous value then. Humans buy for both rational and emotional needs we know that! This is why there is a cure for every man’s need but not every man’s greed! Modern retail thrives on it!
Think of it like this. You never gain a sale you don't ask for. In Mcdonald's if you ask for a Big Mac they will always ask you if you want to make it a meal, you never turn at that point, throw your hands in the air and walk out, you either end up with a Big Mac or a Big Mac meal. So feel the fear and do it anyway. You have nothing to lose.
Once you understand the objection, you need to provide value and benefits that outweigh the cost and risk of cross-selling or upselling. You can use stories, testimonials, case studies, or demonstrations to show how your offer can solve their problems, enhance their experience, or create more opportunities for them. You can also use contrast, scarcity, or urgency to highlight the value of your offer and the consequences of missing out on it. For example, if your customer says they can't afford the higher-tier plan you are upselling, you can show them how much money they can save or make in the long run by investing in it, how much better their results will be, and how limited or exclusive the offer is.
Emphasize the value proposition of the cross-sell or upsell. Focus on the benefits the customer will receive, such as cost savings, improved functionality, increased convenience, or enhanced satisfaction. Address any specific concerns or reservations the customer may have. Provide reassurance or additional information to alleviate their concerns and build trust. If the customer is not interested in the initial cross-sell or upsell offer, explore alternative options that may better suit their needs or preferences. Be flexible and willing to accommodate their preferences.
In my view best way to handled such objection is we need to understand the objection carefully by checking each risk involved and accordingly we can push solution with value additions and benefits which can have clear visibility to valued customers and most important part is it has to be long term benefits and of course with no compromise on service quality to them.
Trust is the key word for cross selling and objection handling. You need to inform your customer very well. You should understand the needs of the customer and tailor your approach and value proposition to cover those needs .
Wenn es einen wirklichen Mehrwert für den Kunden gibt, dann gilt es herauszufinden, was es bedeutet, wenn der Kunde diesen Mehrwert nicht in Anspruch nimmt: - Welche Auswirkungen hat der Verzicht auf einen Mehrwert in der Zukunft? - Verliert der Kunde einen Wettbewerbsvorteil oder wird die Resilenz des Unternehmens geschw?cht? - Sind mit dem Verzicht finanzielle Nachteile oder gar Risiken verbunden? Bedenke, es geht um den Mehrwert des Kunden, nicht um den Mehrwert des Verk?ufers!
Accept objections with open mind and afterwards offer value, use reviews and testimonials. Let your customers know that they have value for their money. Let them know what good the product will do for them. If possible offer discounts
Even after you provide value and benefits, you may still encounter resistance or objections from your customer. This is normal and expected, as they may have some doubts, fears, or objections that need to be overcome before they make a decision. You can handle these by using the feel-felt-found method, where you acknowledge their feelings, relate to them with a similar situation, and share what you or others have found to be true or beneficial. You can also use the LAER method, where you listen to their objection, acknowledge it, explore it further, and respond with a solution or a trial close. For example, if your customer says they are happy with what they have and don't want to change, you can say that you understand how they feel, that you have felt the same way before, but that you have found that trying something new can open up new possibilities and improve your situation.
For me - Objections are an essential part of a successful sales process. They serve as valuable indicators that we might need to address missing information or clarify our offerings. While they don't always guarantee a sale, they do offer an opportunity to build trust and refine our approach to better suit the customer's needs.
Any functional, process or execution related objections are entailed by fear of unknown or overthinking which can only be compensated by reciprocation with a relatable reference of similar experience you can share with deep reference. At times some of the most content clients are vulnerable to unknown threats which can be addressed with above approach and success story to relieve them from the core cause of resistance or objections. Going back to the root, one will only purchase if there is a need so here you have to make them feel that they are missing against the market or competition again with reference which will push them to think in the right direction in spite of content situation.
I believe we need to understand customer better before doing crossing and upselling. It is perspective game, where you offer value but it may or may not be valuable to customer against the increase of sales ticket size. Be judicious while proposing it.
Encountering resistance and objections during the sales process is a positive indicator. It signals genuine interest from potential customers in your solution. As sales executives, it's crucial to pinpoint objections early, particularly during the initial discovery call. Equally vital is having access to personas who may not initially favor your solution and make sure you are ticking the boxes before you are deep into the negotiation stage.
Tips for successfully handling objections to upselling and cross-selling: 1. Listen actively and show empathy. 2. Acknowledge and validate the customer's concerns. 3. Address specific concerns and provide relevant information. 4. Customize solutions to align with customer needs. 5. Highlight the value and benefits of the offer. 6. Offer alternative options if needed. 7. Follow up to ensure customer satisfaction.
The final step to handling objections to cross-selling and upselling is to confirm and close the sale. You can do this by using a summary close, where you recap the main points of your offer, the value and benefits it provides, and the solution it offers to their objection. You can also use an alternative close, where you give them two options to choose from, both of which involve cross-selling or upselling. You can also use a question close, where you ask them a question that implies their agreement or satisfaction with your offer. For example, if your customer says they are interested in your offer but need some time to think about it, you can say that you appreciate their interest, summarize the offer, and ask them when they would like to follow up or what they need to make a decision.
Cross-selling and upselling are not easy, but they are not impossible either. By following these steps, you can handle objections effectively and increase your chances of closing more and bigger sales.
I agree but what I find of great intrigue and value is how Japanese look at closing a sale. All of us including me have been influenced by western management schools. In Japan ???? it is not considered polite if you the ask the customer for a order. It is considered premature as they may give not made up their mind and we are rushing them in to it! Over time I think the blend of west and east is the best we can use in all decision making even if it for closing a deal!
Selling is inspiring people to buy by helping them comprehend what’s important to them on a personal & emotional level. Further defined, It’s when you inspire your customer to buy your solution at your price, under your terms & conditions, and have them walk away from the table feeling good about what just happened. My four guiding principles of world class selling 1. We are in the business of delivering solutions that remove pain, address fear, or deliver gain. 2. Every step of the way there needs to be a mutual level of commitment. 3. Understand before trying to be understood. 4. No unilateral concessions.
You should be closing throughout the duration of your relationship with the prospect/customer. Asking open ended questions, not yes or no's to gauge their level of buy-in and interest.
Sealing the deal? It's about finesse and insight. Summarize the win-win, offer choices, or ask a question that tilts towards yes. If they're mulling it over, empathize, distill your value pitch, and ask, "What's our next move?" It's not just closing; it's about reinforcing the connection and spotlighting the mutual benefits. This approach turns hesitation into action, paving the way for future success together.
In my experience, confirming and closing a sale after addressing objections to cross-selling and upselling is crucial. I agree with the approach of using various closing techniques, such as the summary close, alternative close, and question close. Each method can be effective depending on the situation and the customer's preferences. For instance, I've found that the summary close helps reinforce the value proposition, while the alternative close empowers the customer with choices. Additionally, employing a question close allows for a gentle nudge towards agreement or satisfaction with the offer. Overall, these techniques have proven successful in my sales endeavors, leading to increased conversions and customer satisfaction.
Uma das maiores obje??es para realizar cross-selling e upselling é a possibilidade do cliente ainda n?o ter resultados com o servi?o que o mesmo já tem. é importante garantir o acompanhamento dos resultados do cliente para que o Account Manager tenha conhecimento do estágio de sucesso do cliente para caso o mesmo n?o esteja satisfeito, tenha o conhecimento suficiente para contornar esta obje??o.
Hi there! Dealing with rejection or objection can be tough, but it's important to remember that it's not personal. Hence, we need to see it as an opportunity to learn and improve our offering. When it comes to upselling, a pro sales can use the experience of rejection to tailor his approach. For example, if a customer says no to an upsell offer to upgrade his licenses or extend his AMC, ask for feedback on why they declined. This can give you valuable insights on how to adjust your pitch for future upselling opportunities. Remember, every successful person has faced rejection at some point in his journey, so, use it as a learning experience and a stepping stone towards your bigger goals, don't let rejection define you.
Great advice I heard once: "Act interested - not interesting." This helps not just in sales, I would say, but in life as well.
When the question is about: "Handling Objection in Cross-Selling and Up-Selling", let's first dive in the Cross & Up Selling terminology, before we are too far and wide seeking for the why and how. - Upselling is about encouraging customers to purchase a higher-end or larger volume than the original. - Cross-selling?invites customers to buy additional-related or complementary items. - Above both are mutually beneficial when done properly, providing maximum value ?????? "only when" customers are aware of cheaper bundled-offer and have adequate fund to buy those offers. - Seek no further than these 2 rootcauses: awareness and/or fund readiness. Then be the wiser one to "educate" (if awareness) and nothing else further if fund problem. ??
95% of the comments appear to miss the obvious point, ask the client what they are trying to achieve over the next 12 months and see if you plot onto what is important. Internal initiatives will have budget you can tap into. Make it easy for yourself and find the cash they have allocated and then see if you can align. Questions to ask “ What are the big rocks (the challenges in you business) that are being broken into smaller chunks this year?” “What initiatives are consistently coming down through the business as something to really focus on” “What are the initiatives that you think we could add some value to?” “How do you see this solution fitting in with the bigger picture?” Big open questions to get towards alignment. Try it, it works