Dan Lok Show

What if I could teach you one simple trick, one powerful trick, to increase your sales without adding a single dollar of expense? Would you be interested?

Now, before I teach you this trick, I want to ask you a question. What do you think is the most expensive sale when it comes to business? Can you guess it? That’s correct. Your first sale.

Your Most Expensive Sale Is The First One

 

When it comes to marketing, the most expensive expense is acquiring the first customer. Why? Because they don’t know you, they don’t like you, and they don’t trust you. It’s that period of time where you are “kind of still dating,” to use a dating analogy.

You and the customer are trying to find out if your product and service are a good fit for each other. So finding and testing ways to acquire the first customer are very, very costly.

The second question is, when do you think is the best time to sell them again? Is it one day later? Is it five days? A month? Two months? A year?

The best time to sell someone again is when they have just bought. Right after they've just bought. Click To TweetWhy? Because that moment they are in what I call a buying mode. They’ve pulled out the wallet and they’ve made a commitment to make this purchase today. That’s the best time to try to sell them something else.

The Art Of Upselling And Increasing Sales

 

This powerful trick is the art of upselling. One of the most powerful examples of upsell is McDonald’s. Someone, somewhere, some time came up with the idea that when someone is buying a burger from McDonald’s, they can sell them the fries to make more profit.

The fries and the burgers go very well together, and the fries make you more thirsty, so you would buy the drink and the fries and burger all together. They came up with the famous line, “Would you like fries with that?”

It’s a simple one sentence upsell. Now, if McDonald’s services 68 million customers a day in 119 countries, with 35 thousand franchises, with that one little line, “Would you like fries with that?” how much have they increased their sales?

If only 10% of people say yes to that question, their sales would be worth millions and millions, and tens of millions of dollars. Because the customer is already buying a burger, adding fries is an easy decision. And the profit margin on those fries is ridiculous. It generates so much profit for them.

Now, how can you apply this concept to your business and increase your sales?

How To Use Upsells And Increase Your Sales In Your Own Business

 

Your customers are already in buying mode. By the time they are at the cash register, or at the checkout page, they have already bought. Why don’t you sell them something else? Something meaningful and complementary to what they just bought?

If they’ve bought shoes, sell them shoe polish. If they’re checking into their hotel room, upgrade them to a bigger room with a complimentary breakfast.

That’s the power of upselling. When the customer has made one small commitment, upsell them to a bigger commitment. That is a very simple thing that you can do in your business, one simple trick to increase your sales.

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