In this, the busiest time for sales of the year – there is still room to maximise profits with add-on sales. According to hosted e-commerce solution provider Shopify, 30% of consumers will make an additional, last-minute purchase when offered an item that complements what they’ve already decided to buy.
Add-on sales represent a significant source of revenue and profits to a company. The add-on sale is generally suggested by the salesperson once the buyer has made a firm decision to buy and is sometimes known as “upselling.” Christmas Day falls on a Thursday this year – so Super Saturday (the last Saturday before Christmas) has a further four days of selling after it, which is a great opportunity to really maximise those profit margins!
A few tips for accomplishing add-on sales and maximising profits for silly season 2014!
- Remember that once your customer has made a decision to buy, their wallet is open, they are in the mood to spend, and additional purchase decisions are much easier.
- For best results, mention the add-ons before the sale is completed, but after the major purchase decision has been made.
- If you’re offering products or services your customer needs, recognize that you are actually helping them. Try to increase the amount of every sale through helpful upsell and cross-sell offers.
- Offer relevant add-ons to your customers based on what they are buying from you there and then or their past purchase history. Think about Amazon, every time you buy something from them a few items titled “you might also like” and “other customers purchased” pops up.
- If you’re selling online, suggest available options and accessories right on the order confirmation page. You can also use a redirect after the transaction is completed and processed to send your customer directly to a “thank you” page where you can upsell or cross-sell.
- Make absolutely sure that whatever you offer your customer is adding value to their original purchase. As a happy customer will come back.
The best time to sell to your customer is when they’re already in a “buying mood.” Remember, if you’re not upselling and cross selling right now, you’re missing out on extra sales that you could be adding to every single order.