Many salespeople understand the value of upselling but don’t understand how to take advantage of an opportunity to upsell, especially within their existing client base.
Want to know the good news? There is one clear and fairly simple step you can take to increase your chances of receiving opportunities to upsell.
For each new customer that you acquire, set up an interview within 30 days. The purpose of conducting an interview is to ensure client satisfaction and to create an open stream of communication between you and your customer. However, this interview is also an opportunity to understand your client’s potential to become a bigger customer in the future.
During this interview, (which must be done over the phone – not over email!) ask questions similar to the following:
- What inspired you to buy?
- Why are you continuing to do business with us?
- How is our product helping you?
- What changes have you noticed since using our product?
- Who have you interacted with most since the sale was completed?
- Are there any additional features that could add more value?
These questions not only provide you with more awareness about your client, but you also potentially unlock the door to greater sales. Your goal should be to find out why your best customers are spending the money they are spending. You also want to discover what value you could deliver to improve their overall experience.
By diligently conducting these interviews with each new customer, your team should be able to easily estimate each customer’s growth potential for the year and the net new revenue that they’ll represent.
If you determine that certain clients require additional features or services that you can easily deliver, then these customers become ideal and obvious upsell opportunities
By identifying the right opportunities within your current client base, you will be able to create quicker sales, higher profits and improved customer leverage.
Think about it, what business couldn’t benefit by increased knowledge about their clients? Get inside your client’s head and use that information to mutually benefit both your client and yourself.
For more advice and strategies on creating further opportunities within your current client base, check out our Sales Accelerator Program.