A wholesaler can count on up-selling to get the most out of the B2B lead generation process. It’s a classic example of the clichéd phrase “hitting two birds with one stone” whereby you get to sell more products without having to ramp up your marketing budget or efforts. Here are four tips to help you achieve up-selling success in your wholesale business.
- Know your products thoroughly. A deeply-running familiarity with the product lines you sell is a basic requirement for a successful up-selling run. You have to know how some products complement others. As a wholesaler, you also have to effectively profile the prospects in your direct market as well as the end-consumers themselves.
- Find out which items work as add-ons. Knowing which items to suggest as add-ons to your main sellers is the key idea behind up-selling. Typically, retailers up-sell small-ticket items such as those which are needed to maintain, operate, or enhance their big-ticket products. It’s a bit more challenging for wholesalers, though, since you have to take more than a single perspective on matching out products to be sold as add-ons.
- Be informative enough. Once you have a clear idea which items you want bundled together, you have to educate you prospects about the benefits they’re likely to gain from purchasing the add-ons along with the main items. A good way for wholesalers to do this is through B2B telemarketing since this medium gives marketers the chance to truly communicate and connect with prospects.
- Observe perfect timing. Timing is essential in up-selling as anywhere else in business. The most ideal time to present your recommended add-ons is when your customers or prospects have already agreed to buy something from you. However, you can also suggest the sale of related products at other times in the sales process, especially if the potential buyer is at the exploration or selection phase of the buying cycle.