Every business wants to sell its top-line offer to each customer. But in reality, in the world of competition and discounting, not all buyers are ready to throw their credit card at you for your high-ticket offer.
Don’t let them walk away because they don’t want or can’t afford your top-shelf offer. Have something in your back pocket as a 2nd or even a 3rd option for them to still become your customer. You will still gain a customer at a price and service level that your buyer may want to begin with. Down-sells can produce a significant stream of income versus lost income from the missed sale.
Think about the gym membership model. The gym wants you to buy the gold-level year-long membership. But when you say no, they offer a 90-day beach trim down. When that is turned down, they get you started with a free 2-week trial. The gym knows that once you start going, you’ll want to continue, so you upgrade your membership. Down sells can be a great addition to your offering when they don’t take your first offer.
The TIME factor is a typical down-sell.
Your offer might be for a year agreement and your buyer isn’t comfortable with a year. Your down sell could be a 6-month, 3-month plan for an easier commitment. If they still don’t want it, then maybe a free trial can get them started. One of the reasons people don’t buy is because they don’t think that it would work for them. Getting them started with a quick win, proves that they can do it and you can upsell them after they experience your service.
The MONEY factor is another typical down-sell.
Money is always an issue with offers. High-Ticket offers may scare away buyers when they still aren’t sure if you can provide the promised service. Note that people will pay almost anything if it is important enough and they can find the money. Instead of losing the customer, there may be ways you can deliver at a lower price. For example, if you provide 1-on-1 service at your high-ticket price, maybe you can serve a small group for a lower price for each. You may earn the same or more for your group service and still help those that can’t or won’t pay your high-ticket price.
The most important thing to remember with this blog is to think of ways to get the customer on board so that they begin to experience your company. And you still get paid. There are many ways to move your client up to your higher ticket offers once they get inside.
Marcia Riner is a business growth strategist and the CEO of Trajectory Consulting. She helps small business owners to increase profits, drive growth, and to be in a great position to sell it someday. Together, she helps you create your roadmap to increase revenue, drive growth, and maximize the value of your company. Check out her website @www.TrajectoryBiz.com
In her book The Profit Accelerator, she provides 12 Ways To Dramatically Increase
Your Revenue, Profit, And Value. Download her book for FREE at https://trajectoryprofits.com/book-download/