In one of our recent BYOB Quick Tips videos, my wife Blake talked about the art of upselling. This time around, I'd like to discuss with you the reverse side of it— down-selling.
Down-selling is a sales technique we use in situations when the customer decides to back down from the sale with price-based objections.
In this situation, down-selling means that you're going to offer considerable and more budget-friendly alternatives so they don't walk away empty-handed.
Although offering a cheaper option would mean you won't be able to realize higher profits right away, down-selling still gives you the leverage to keep your customers and build a deeper business relationship with them.
The truth is that if somebody buys from you in a down-sell, they are much more likely to buy your higher-priced product or service down the road.
There are three strategies for you to implement an effective down-sell:
👍 Make it a no brainer.
✨ Make it high-value.
📊 Make it scalable.
