How To Successfully Run An Upsell Process

Most business relationships reach a point that will require that you upsell or deepen your position with your clients. Usually, this opportunity presents itself around the end of month 2-3 or at the end of a project. This means that at least once per quarter, you can upsell your clients.

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If you are wondering “what is an upsell?”, you don’t have a process for upselling, or you aren’t sure where to begin, read on as we explain this simple process that will increase your LTV.

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What Is an Upsell?

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It is important to understand this concept so that you can fully understand how to upsell clients. Upselling is a very common and useful sales technique that you can use to sell more expensive items, services, upgrades, or add-ons to our customers. This allows you to generate more revenue and it allows your customers to get more services for their money, making it a win-win situation.

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Why Are Upsells Important?

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Now that we’ve answered the question “what is an upsell?”, we will move on to the next logical question. “Why are upsells important?” Obviously, you want your business to continue to grow and be as profitable as it can be. But you also want to take care of your customers. Upsells don’t just make more money for your agency. They introduce your clients to services and packages that can help them.

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Here Are 5 Steps to Take to Crush the Upsell Process

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Set the Agenda

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You should set an agenda for every meeting. As simple as that seems, very few agencies prepare an agenda for their client meetings. This is a disservice to you and your client. By setting the agenda, you are showing your client what they can expect from the meeting. This sets a tone that you are in control of the process and it instills confidence in your client.

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Gauge Your Client’s Perception

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It is critical to always know your client’s perception of your partnership and your services, particularly before you attempt to upsell them or re-sign them. You should do this on a regular basis to ensure that your clients remain satisfied and happy. This way, if any concerns arise, you can resolve them right away so that your client isn’t dissatisfied with your agency. If there is a problem, take ownership for falling short.

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If you find out that your client is dissatisfied, find out why. Ask them, “What do you need from us to make this a successful partnership?” This way, your client can spell out exactly what you need to do to make them happy. Once you have this information, discuss your new strategy with your client until you’re in agreement on how to move forward.

Here?is a video explaining this concept.

Growth Recap & Projection

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The next step in the upsell process is to show your client the progression of your partnership. This means that you should show them where their business was before they worked with you, where they are now, and where you will take them. Show them a visual that illustrates an upward trend into the future and your strategy moving forward.

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Time to Sell??

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When you get to this point, it’s time to upsell, cross sell, or down sell your client. No matter what kind of package you have with your client, there are usually ways to increase the amount that your clients spend with you. Figure out what those are and pitch them.

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Ask for Referrals

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You’re at the final step on how to upsell clients. When you get to this point, you should always ask your clients for a referral. Even if your upsell was unsuccessful, your client may be happy to provide a referral for you.

Here?is a video on exactly how to ask for a referral.

Work With 8 Figure Agency & Start Expanding Your Wealth Today

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8 Figure Agency is an?experienced and motivated team that wants to help you take your business to the next level of success.?Schedule a free consultation?with us today and let us show you how to grow your company’s wealth!