Sign up to receive accounting tips, videos, news and webinar info before anyone else
21750 Hardy Oak Blvd
Ste 104 PMB 63328
San Antonio, TX 78258-4946
What’s the easiest sale that you can make as a business? The easiest sale you can make is to a happy customer, and you can sell them something else. Here are a couple upselling tips:
When you’re considering these three ideas, it’s important to consider the impact on the business. For most businesses, a 15% increase in your prices allows you to lose over 40% of your customers without losing any profitability. That’s an amazing statistic. Here’s how you can begin taking advantage of this information.
[Find out if you are targeting the right customers.]
First of all, take a look at when you last contacted your customers. Next, create a plan to reach out to them and either sell them something new, or more of the same products or services. Third, run the numbers so that you can understand how much you can increase prices and how many customers you can lose and still retain profitability. Chances are, all three is going to increase your sales and drive you to higher levels of profitability.
This post was reviewed by our team of accounting and financial experts. TGG’s mission is to make business owners’ lives better through excellent financial management. We strive to provide the most up-to-date and objective information on accounting-related topics so our readers can make informed decisions based on factual content. All posts undergo a review process with at least one member of our Leadership Team to ensure accuracy.
This post contains trusted sources. All references are hyperlinked at the end of the article to take readers directly to the source.