Create Extra Revenue for Your Business with this Sales Technique

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Have you ever had this type of morning where you are at the office, there is meeting after meeting or you just can`t seem to catch your breath because you are so busy?

That happened to me one day last week. It seemed as though as soon as I hit the office door I was off and running. A meeting at eight in the morning, followed by talking to some customers and potential investors, then another meeting and before I knew it, lunchtime had arrived.

Here is the problem; I had another meeting across town so there would be no time to stop in the lunchroom for a quick bite. I would have to get my food on the road.

Now it is not something I normally do, but I stopped at a fast food restaurant to get a quick bite of something so I would not pass out in the afternoon meeting. While there, I was exposed, reminded really, of a great technique that can be used in business to generate some extra revenue that you may not have known was there.

I was ordering a number three (or four, I really can not remember), and when I was done placing my order, the cashier asked if I would like to make my order an extra large for an additional twenty-nine cents. I declined as I did not see the need to drink what looked like a couple gallons of diet soda.

However, this sparked the topic of today`s article and that is upselling.
Upselling is the technique by which (as you can read above), someone offers you something else with your offer at a discounted price. In the case above, the restaurant was willing to give me about 8 more ounces of soda for only twenty-nine cents more.

This tells me that the cost for that amount of soda is less than what they are charging (must be a lot less at that price). They must have done their market research to know that people are willing to hand over that small amount at the time of their order.

Now this amount mentioned above may not seem like a lot, but since they are a chain, serving probably hundreds of thousands daily, if they get one to two percent of their customer base to agree on the upgrade, it may in turn add up to hundreds of thousands of dollars in extra sales.

As you can see upselling your products or services can lead to extra income that you might not have thought about before.

If you are not upselling in your business, you should definitely start. First sit down and write up a plan as to what would be the best option for you to upsell. If you hang drywall for a living, consider throwing in to prime the drywall for an extra cost. Just make sure that extra cost covers your supplies. SO for instance if a five gallon bucket of primer runs you $90, offer the customer to paint one coat of primer on the drywall for $150. This covers your supplies and most of your labor. But in turn since you are already at the job site, you didn`t spend any money on gas for your vehicles.

You get the point. Start upselling in your business. You will more than likely stir up some extra revenue you may not have know existed.

By: Bruce A. Tucker

About the Author:
Mr. Tucker is the Associate Director of http://www.Indocquent.com, an online resource where you can advertise your business, products or services throughout the world without pay-per-click prices or auction fees.

You can now download Indocquent`s free social bookmark utility for your website or blog at http://www.indocquent.com/social_bookmark/social_bookmark_landingpage.html.

Published By: Indocquent.com- An online resource where you can promote your business, products and services around the world.