U is for UpsellThe A to Z of Profit Growth – U is for Upsell

 

It’s time for the next A to Z of Profit Growth… This week U is for Upsell!

If you’d like more advice on how to increase your profits, we offer a free 1-2-1 discovery session. Call us on 0161 410 0016 to arrange a time that suits you. We hope to hear from you soon!

 

Please follow us on YouTube. KMA Accountancy

KMA The A to Z of Profit Growth – U is for Upsell

That’s it for this week’s edition. Watch out for next weeks episode.

If we can help with anything included in this edition or if you’d like to talk to us about anything Accountancy or Business development, then call us now on 0161 410 0016.

 

Hi. Kim here with your next profit growth advice. U is for upsell. In an earlier edition we talked about cross selling, upselling is similar. Rather than introducing your customers to new and different products in your range it’s all about encouraging customers to purchase a higher priced alternative.

Fast food restaurants are brilliant example of this, who can resist going large for 50p extra? Costa Coffee are also great at it, their signage is everywhere showing you the drinks. It’s also worth knowing that existing customers are far more likely to buy than a new prospect.

I did a bit of research and found that the odds of making a purchase are 60 to 70% for existing customers and only 5 to 20% for new prospects. So it’s well worth spending some time identifying customers who you think would purchase a higher priced alternative, and then just ask them, “What have you got to lose?”

 

Tags: , ,

Get in touch

0161 410 0020
info@kmaaccountancy.co.uk

KMA Accountancy
Progress House
17 Cecil Road
Hale
Altrincham
Cheshire WA15 9NZ

Latest news

The A to Z of Profit Growth – W is for Workflows

Is your workflow as efficient as possible? Are there any extra steps in your process that you don't actually need? Watch this video to find out how you can improve...

The A to Z of Profit Growth – V is for VAT

This week’s A-Z of Profit Growth is focusing on VAT... Did you know that there is more than one VAT scheme? To find out more about the different VAT schemes...

Tweets @KMAltd