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Don’t Leave YOUR Money on the Table

 Published on: 18th October 2016   |   By: Nik Allen

The Americans have a great saying about making the most of every business transaction.

‘Don’t leave money on the table’.

The thinking behind it goes like this:

Getting someone to buy from you is hard. But once they’ve bought from you and taken that step towards you and your business it’s easier to get them to buy something extra.

Many people want that added extra you have or the up sell you can offer.

But many businesses don’t make that offer hence ‘leaving money on the table’. Money that might be spent with your rivals. Money that’s yours for the taking!

Of course your product or service needs to be good. Nobody repeatedly buys rubbish (well I can think of a few football managers over the years who are experts at it).

I had a good example of clever up selling on Monday when I visited my massage therapist who is helping me with a rib problem I have.

After a good massage which featured a rolling device she told me how it was possible to use the device on myself as a way of easing the tension around my ribs.

It worked a treat. And so did her offer to me to buy one. I did and she benefitted from the extra £18 on top of the £45 for the massage.

Now if she does that with every client and just one per day (Monday to Friday) buy the roller she’ll add just under £100 extra to her weekly earnings. Multiply that by months and at the end of the year there’s a nice extra income stream flowing into her coffers.

She’s a smart cookie but a lot of businesses crumble when it comes to offering up sells and additional services.

Pubs that don’t do table service miss a big trick. Worse still whenever a drink is sold in a pub I’m always surprised when nuts, crisps or some kind of small snack are’nt offered as a mini up sell.

McDonalds’ have done it for years! increase-your-sales

Starbucks’ staff regularly do it when you buy a coffee ‘would you like a pastry with that?’

These little questions can add up to very profitable answers.

We’re introducing more of an up sell into our services here at My News.

Sure we can offer you great local advertising opportunities but we also provide reliable leaflet distribution, design services and marketing and PR expertise.

Yesterday I practiced what I preached.

A lovely lady called me to tell me her business had been nominated for a local award. I immediately offered her an upgraded advertorial for £150 for a full page which she instantly went for.

It was great value for her business and extra income for our business. A win win situation.

I’d love to know how your business offer added extras or beneficial up sells.

Thanks for reading.

Nik

 

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