Date TimeNo. of Days Fees (Inclusive Taxes) Register
24/06/20222:00 PM - 5:00 Pm13245

Introduction

Upselling and cross selling are sales technique to sell products or services to existing customers. For a business looking to optimize their resources for business growth, upselling can be an excellent strategy to drive growth because:

  • The cost of attracting new customers is five times the cost of retaining existing ones.
  • Existing customers are 50% more likely to try a new product.
  • Existing customers spend 31% more than new customers.
  • The probability of selling to an existing customer is 60 to 70%, while a new prospect is 5 to 20%.

The course will equip participants with the best tools, techniques and practices that will help them create value for customers and make sure prospects are turned into regular buyers.

Objective

  • Increase Customer Lifetime Value (CLV)—the amount spent by the customer on your products over time  
  • Generate multiple orders from current customers
  • Gain knowledge of best tools, techniques and expert tips for upselling and cross-selling
  • Discern how different methods of upselling and cross-selling technique will be best applicable in different situations
  • Develop creative thinking  to identify multiple opportunities from a single customer
  • Boost customer experience and satisfaction
  • Understand that deep product knowledge is necessary for upselling and cross-selling
  • Understand that focus is on developing a grasp on customer need and not merely on selling a product
  • Develop long-term customer relationship
  • Link incentive programs with upselling and cross-selling
  • Understand the difference between persuading and heckling customers
  • Get acquainted with the latest trends existing in the industry

Course Content

Mind-Mapping for Enhancing Sales Activity 

  • Understanding How Products and Services Complement Each Other 
  • Mind-Mapping Your Product and Service Lines 
  • Analysing Past Sales Trends in Your Organization; Recognizing Migration Patterns of Customers’ Purchases 
  • The need for upselling and cross-selling in the organization 
  • Upselling and Cross-selling strategy and techniques 
  • Process of Upselling and cross-selling 
  • Creation of cross-sell grid 
  • Next Buy Product model 
  • Identify Upsell Scenarios 
  • Identify Potential Cross-sell and Upsell Opportunities 
  • Upselling and cross-selling techniques: 
    • Product comparison, creating urgency, highlighting advantages, 
    • Tracking past purchases of the customer 

Customer Relationship

  • Understanding customer’s perceived value
  • Customer value analysis
  • Developing a value proposition
  • Understanding marketing funnel
  • Building loyalty

Customer Lifetime Value

  • Customer product profitability analysis
  • Churn management
  • Loyalty programs