In online business people often apply the down-selling techniques, cross-selling and up-selling. Just hearing the name makes it difficult to imagine the meaning of this sales technique. So Vio Company would like to introduce you to some information about the above techniques. In the framework of today’s article, we will learn about down-selling and what to know when applying this technique in business.
Introduction to three online selling techniques
Up-selling
This is the secret to encouraging customers to spend more than they originally planned. Usually people will apply this technique by offering a product or service at a higher price than the product or service that the customer wants. When successfully applying this sales technique, of course, the total revenue will increase a lot. And with a higher price tag, customers will surely be better served or have better quality products. This helps increase sales and please customers.
Cross-selling
Cross-selling is a method quite similar to Up-selling but sellers will encourage customers. purchase of additional products or services related to the original product. You will easily see people using this strategy at stores like The Gioi Di Dong, Dien May Xanh. For example, when you choose to buy a smart mobile phone, the staff will advise more about headphones, power banks or cases. This is a prime example of using cross-selling.
And down-selling techniques will be featured. more through the information below.
What is down-selling?
In simple terms, down-selling is a technique of selling products at a low price or in less quantity than the original product. Usually applied when the customer is not eligible to buy or the seller cannot convince the customer to buy.
For example, when a customer wants to select a product iPhone 12 but are not eligible to buy it, you can offer customers to choose products with better prices. Fully meet the features that customers want.
For fundraising products, this technique is essential. If applied at the right time and at the right time, it will be possible to maintain sales while increasing interest rates. Not only that, consulting products with better prices will help create relationships with customers, especially new customers.
The importance of down-selling
Create customer relationships
The goal of down-selling technique is that client. Even if you don’t make a huge profit, but you can establish a good relationship with your customers, it is already a success. And with that satisfaction, customers will come back and even refer acquaintances to use your services, thereby helping businesses get a richer and more qualified source of customers.
Enhance sales
For salespeople, selling products is a top priority. Instead of letting customers leave your store or website, consulting a product that is more suitable for them will help you sell the product, ensuring sales. To do this, the sales staff need to know the parameters of each product and carefully advise customers to increase reliability.
Show professionalism
Professional from sales to product quality will help businesses be recognized. If you are a customer, you will feel more comfortable if you are advised by a team of professional consultants. In fact, consultants and salespeople are the face of the company. People will rely on their attitude as well as the way they work to judge. Therefore, professional training for sales staff is extremely necessary.
Summary
Down-selling is considered the last of the three sales techniques that employees can apply to their customers. When customers cannot buy the product they want, consulting similar products at a cheaper price is essential and is also the secret to retaining customers in today’s competitive times.
Use down-selling technique effective or not depends on a lot of factors. However, the most important thing is still the experience and handling of the sales staff.
>> See also: What is Cross-Selling? How it works in business to achieve efficiency
