This is Marketing Mistake #11 of 15. Upgrade is in quotes because I don’t necessarily endorse the concept of “up-selling.” Notice I said “don’t necessarily.” There are times when it is in the best interest of the buyer to be introduced to a product that costs more than the original item. Regardless of the price point, I endorse the practice of “selling right.” And if ‘right’ is up I say go for it. On the other hand, I also endorse the practice of “selling down” – if it is the ‘right’ thing to do.
Other than the book I wrote on sales, it seems that every sales book has a chapter devoted to the practice of “up-selling” for one very obvious reason. If an item costs more, there usually is more profit buried in it. Up-selling, by my definition, positions the seller as the main concern. I like to believe that my client deserves the spotlight. Therefore, what is in their best interest is my primary concern.
Offering the right solution to the right person at the right time for the right price for the right reason sounds pretty ethical to me.
Bottom line: Sell right. And “right” does not mean “what is right for you.” It means “what is right for the customer.” I understand, as you must come to understand that his does not usually translate to more profit.
But in the long run, year after year, if the account remains profitable, it was a sound business decision to maintain the relationship at all costs.
Over time, should the account prove to be unprofitable, it may be time to raise your prices or perhaps sever the relationship with this particular customer.
Mike Marchev is recognized for his down-to-earth, street-savvy and honest delivery of useful sales and marketing advice, suggestions, tactics and strategies. For a complimentary copy of his Special Report titled: 11 Sales Mistakes You Must Avoid send Mike an email with the word TRO-11 in the Subject Box. firstname.lastname@example.org