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    Upselling Techniques: That Really Work!
    Upselling Techniques: That Really Work!
    Upselling Techniques: That Really Work!
    Ebook288 pages4 hours

    Upselling Techniques: That Really Work!

    By Stephan Schiffman

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    About this ebook

    Upselling Techniques is filled with sure-fire techniques for adding more products—and numbers—to your purchase orders!

    In today’s sales environment, upselling is more than a “nice extra”—it’s an integral part of your sales pitch and possibly built into your quotas. So how can you do your best to maximize this important area of your job? In Upselling Techniques (That Really Work!), America’s #1 corporate sales trainer Stephan Schiffman gives you a complete system for developing and executing successful upselling plans for new and existing accounts—without pushing the envelope too far. This must-have guide includes time-tested strategies that help you:
    -Increase the size of your average sale
    -Develop a unique strategic plan for important customers
    -Position yourself as an irreplaceable business ally
    -Fend off the competition, hold on to the account…and expand its value over time!

    Upselling Techniques (That Really Work!) is the only book you need to boost sales, build relationships, and increase your bottom line.
    LanguageEnglish
    PublisherSimon & Schuster
    Release dateFeb 28, 2005
    ISBN9781440500855
    Upselling Techniques: That Really Work!
    Author

    Stephan Schiffman

    Stephan Schiffman(New York, NY) has trained more than half a million salespeople at wide range of corporations including IBM, AT&T, Motorola, Sprint, and Cigna. A popular speaker, he is the author of numerous bestselling books with eight million in print, including Cold Calling Techniques (That Really Work!) and The 25 Habits of Highly Successful Salespeople.

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      Book preview

      Upselling Techniques - Stephan Schiffman

      UPSELLING TECHNIQUES

      (That Really Work!)

      Stephan Schiffman

      Copyright © 2005 by Stephan Schiffman.

      All rights reserved. This book, or parts thereof, may not be reproduced in any form without permission from the publisher; exceptions are made for brief excerpts used in published reviews.

      Published by Adams Media, an imprint of Simon & Schuster, Inc. 57 Littlefield Street, Avon, MA 02322 www.adamsmedia.com

      ISBN: 1-59337-273-6 (paperback)

      ISBN 13: 978-1-44050-085-5 (EPUB)

      Printed in Canada.

      J I H G F E D C B A

      Library of Congress Cataloging-in-Publication Data

      Schiffman, Stephan.

      Upselling techniques (that really work!) / Stephan Schiffman.

      p. cm.

      ISBN 1-59337-273-6 (paperback)

      ISBN 13: 978-1-44050-085-5 (EPUB)

      1. Selling. I. Title.

      HF5438.25.S3347 2005

      658.85 — dc22

      2004025949

      This publication is designed to provide accurate and authoritative information with regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional advice. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.

      This book is available at quantity discounts for bulk purchases. For information, please call 1-800-872-5627.

      To the memory of my mother, Martha F. Schiffman

      Acknowledgments

      Grateful appreciation goes out to all those who helped make this book a reality, especially Brandon Toropov, Steve Bookbinder, Danielle Chiotti, Gary Krebs, Stephanie Kip Rostan, Daniel Greenberg, Michele Reisner, Amy Stagg, Lynne Einleger, Martha Rios, Scott Forman, Alan Koval, Surendra Sewsankar, David Rivera, Kara Maloney, Carlos Alvarez, and David Toropov.

      Contents

      Author's Note

      Introduction: A Tale of Two Conversations

      Part I: Foundation Concepts

      Chapter 1: Before We Begin …

      How to take the initiative in conversations with prospects while building the foundations of an effective selling strategy.

      Chapter 2: What Is Upselling?

      Upselling defined — the process, the challenges, and the great results.

      Chapter 3: Upselling Is a Conversation

      What kinds of questions you should — and shouldn't — ask to promote upselling.

      Chapter 4: Selling by Not Selling

      Why less is more applies to upselling and how to move the process forward during nonsales conversations.

      Chapter 5: It Makes Sense!

      The three words that determine every buying decision and that form the basis of the most effective closing strategy.

      Chapter 6: Verification

      How to effectively incorporate this essential substep into the sales process.

      Chapter 7: Remember Why People Buy!

      Gathering the information that makes a successful presentation possible.

      Chapter 8: Offer, Timetable, Price

      Ways to move past the inevitable obstacles raised by these critical topics.

      Chapter 9: Essential Upselling Principles

      Fifteen principles that every successful upseller will follow.

      Chapter 10: Key Communication Principles

      Creating the flow, anticipating responses, and communicating through stories.

      Part II: On the Phone

      Chapter 11: Why Telesales Is So Tough

      The special challenges telesales professionals face and how to rise above them.

      Chapter 12: By the Numbers

      Measuring sales activity and turning numbers into useful ratios.

      Chapter 13: What Do the Numbers Mean?

      The importance of the upselling ratio in both inbound and outbound sales.

      Chapter 14: Two Models

      Transitional phrases that carry you through the critical points in your calls.

      Chapter 15: What You Really Want to Know

      The most important piece of information you need to uncover on an inbound call.

      Chapter 16: My Hands Are Tied!

      Effective upselling while working with a script.

      Chapter 17: The Turnaround in Action

      Getting past the initial negative response to move forward.

      Chapter 18: Another Use for By the Way

      Using transitional phrases to help verify your information.

      Chapter 19: The Telesales Upsell

      What the telesales upsell sounds like and two philosophies for telesales success.

      Chapter 20: Additional Thoughts on the Telesales Upselling Process

      Finding the right tone, emotional message, stories, and humor that lead to great telesales.

      Part III: Face-to-Face

      Chapter 21: Questions You Should Be Able to Answer

      The answers you need to have before you try to close a sale or begin to upsell.

      Chapter 22: Four Phases of the Relationship

      Determining if you are a seller, supplier, vendor, or partner — and how your status affects your upselling efforts.

      Chapter 23: Beware of Bad Assumptions

      The ways that we can mislead ourselves while upselling and the questions that will put us on the right track.

      Chapter 24: Raise the Hard Issues Yourself

      Dealing with difficult objections and avoiding the dreaded Let me think about it.

      Chapter 25: Returning to the Plan

      Uncovering the different motives that customers have for buying and tailoring your upselling efforts to fit them.

      Chapter 26: The Six Mindsets of Change

      The mental roadblocks that can hold back our prospects — and ourselves — when faced with innovative change.

      Chapter 27: Tales of a Cable Installer

      An example of a subtle and highly effective upselling conversation.

      Chapter 28: The Simplest Upselling Strategy of Them All

      Upselling letters — how to create them and who to send them to.

      Chapter 29: When You Work for a Large Organization

      Successful strategies for upselling at a large company.

      Chapter 30: Just Focus on Him

      The importance of personal attention (and, surprisingly, Tom Hanks) to the upselling process.

      Chapter 31: Pull Out Your Legal Pad

      Building rapport and a better upselling environment through old-fashioned note taking.

      Chapter 32: What's the Next Step?

      The necessity of obtaining a Next Step and what it means if you can't get one.

      Chapter 33: Based on What We've Discussed Today …

      A useful phrase for generating the right kind of Next Steps.

      Chapter 34: Meet Billy Mitchell

      Lessons to follow and pitfalls to avoid while upselling, from a 0. pioneer of military aviation.

      Chapter 35: The Art of Making People Look Good

      Why being able to help someone at another company shine is an essential upselling skill.

      Chapter 36: The Follow-Through Campaign

      Following up on your upselling efforts to sell even more.

      Chapter 37: The Mole

      Enlisting a member of a target organization as an ally in your upselling efforts.

      Chapter 38: I've Got an Idea. …

      How you can create strategic partners in an organization with anyone from a key contact to a CEO.

      Chapter 39: Upselling to a Committee

      Challenges, opportunities, and common mistakes when upselling before a committee.

      Chapter 40: Know When to Move On

      The danger signs that you're wasting your time and effort in an upselling initiative.

      Chapter 41: The Hallmarks of an Upselling Sales Culture

      Thirteen beliefs that work to create a healthy environment for effective upselling.

      Chapter 42: The Shopping Bag Rules

      The strategies — all from the side of a grocery bag — that define true success in business and in life.

      Appendix A: Customer Service Principles

      Appendix B: A Retail Upselling Model

      About the Author

      About D.E.I. Management Group

      Author's Note

      IT HAS BEEN NEARLY TWO DECADES since the release of the first edition of my first book, Cold Calling Techniques (That Really Work!). In that time, the economy has changed, my business has changed, and the sales training industry has changed. I've learned a lot. And I think this book, which covers the back end of the sales process in the same way my first book covered the front end of that process, is a necessary addition to the literature. I was amazed at how little had been published on this important subject, and how much practical firsthand experience we had on tap at D.E.I. Management Group when the time came to develop the manuscript.

      As always, I'm eager to hear what you think of the chapters that follow. Please contact me and let me know your thoughts and feedback.

      Stephan Schiffman

      contactus@dei-sales.com

      New York City

      February 2005

      INTRODUCTION

      A Tale of Two Conversations

      You will find the key to success under the alarm clock.

      — BENJAMIN FRANKLIN

      I WALKED INTO A RADIO SHACK the other morning to buy a calculator. The lady there said to me as I stood at the counter with my purchase, You know, we've got this great sale on batteries today. They're only a dollar ninety-nine for a four-pack.

      When she said this, she was fully engaged in the conversation. She made eye contact with me, she smiled at me as she rang up my purchase, and then she said her piece.

      Here's my question: If she says that to 100 people, do you think 10 of them might decide to throw a package of batteries onto the purchase total? If she did that every day, what do you think the outcome would be for her store? If every Radio Shack store did that for an entire year, what do you think the results of the effort would be, and how do you think the effort would play out across the chain?

      By contrast, later that same day, I went into a hardware store and asked the clerk, Hey, how much is this? I held up a snazzy carpenter's level. The guy checks his book, looks up for a split second, and says, Thirty-nine ninety-eight. And then went back to his business.

      That's all he said: Thirty-nine ninety-eight.

      Which of these two conversations … which of these two guiding philosophies … is driving your organization's upselling efforts?

      In this book, you will learn how to have more money-generating conversations, in more situations, than you're having now (along the lines of the lady at Radio Shack). You will also learn how to avoid dead-end, low-revenue conversations (like the one the guy at the hardware store routinely finds himself in the middle of). If that seems like a worthwhile goal, read on.

      Part I

      Foundation Concepts

      1

      Before We Begin …

      It is wise to keep in mind that neither success nor failure is ever final.

      — ROGER BABSON.

      illustration What's a good way to take the early initiative in conversations with prospects and customers?

      illustration How can you gather important information very early on in the relationship?

      illustration What are the foundations of an effective selling strategy?

      illustration Are we putting the principles of effective selling into practice each and every selling day?

      WHEN I AM TRAINING SALESPEOPLE during our company's seminars, I tell the story of a young salesperson who came to meet with me to try to sell me advertising space in the yellow pages. I asked him to wait in the lobby while I completed a few tasks in my office. But before he sat down in the lobby, I asked him, Before we begin, what's the first question you plan to ask me when we get together?

      By making this query, I was, of course, beginning the meeting.

      But he nodded enthusiastically and said, Before we get started, I guess it does makes sense for me to think a little bit about the first question. Usually, what I ask is, are you happy with your advertising? And, I asked him, what do people usually say when you ask them that?Well, he said, usually they tell me that they're happy with their advertising.

      And what happens then?

      Well, at that point, I usually ask if they have any questions, and if they don't, I move on to my next meeting. After all, I've qualified them.

      I will not bother sharing with you the rest of our discussion, except to say that I did not end up buying yellow pages advertising from that salesperson. But notice how much information about his sales process I was able to elicit before we began the meeting!

      I think that is the way a lot of good sales strategy works. You find a way to get some kind of meaningful information out on the table before you begin — and that is the way I want to start this book. There is a lot to look at, but before we even begin, I want to share with you some important information … information that might just help you to take an approach to selling that is a little bit more constructive than the approach that yellow pages representative took during his meeting with me.

      So — before we begin — here are twelve simple, career-changing pieces of advice I have been sharing for years with salespeople.

      The list, which is the culmination of over a quarter of a century of experience, may be brief, but I've noticed that those who follow all twelve rules always seem to outearn those who don't.

      Always respond to customer queries within forty-eight hours.

      Schedule sales appointments for early (8 a.m.) or late (4 p.m.).

      Follow through immediately on thank-you letters, letters of agreement, and internal paperwork.

      Set two new appointments every day.

      Strategize with your sales manager on a regular basis.

      Don't kid yourself.

      Create a sense of urgency in all your communications.

      Be honest.

      Know ten client

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