The IT learning landscape is basically running on the concepts of post-adoption and implementation upselling. This is both due to the rapid inclusion of new features, as well as new courses in the course catalogs of IT training firms, as well as the number of updates that technology and software companies are making to their modules.
Following the consumer-driven upselling culture of the retail industry, the eLearning industry is no different, and in fact, thrives on the concept of providing customers with the option to upgrade their learning subscriptions. This drive is backed by solid data, which states that the overall probability of selling to a new potential customer is 5 to 20 percent, whereas the overall probability of selling to an existing customer is up to 60 to 70 percent. Recommendations for products can amount to around 10 to 30 percent, which means that for sales growth, it is very important to show the customer an effective upsell offer, at the right time.
To that end, in this article, we will be discussing some tips for IT sales reps on upselling once the customer/workforce is ready to implement and utilize the product which you have already sold them.
Select the Correct Upsell Strategy
Having an upsell strategy before approaching the customer with the intention to make a better sale is very important, and should depend directly on the product on offer. Following are the examples of the types of upsells, which can apply for commerce in general:
- Product Version Upgrade: This one is self-explanatory; it points to a direct approach to sell the customer a better, more effective and more valuable version of the same product.
- Product Insurance/Protection: This upsell type is an attempt to sell the customer insurance and/or protection against product loss or malfunction.
- Personalization: Several IT-related courses have features that can be personalized to the specifications of the customer; which obviously costs more to do so.
- Service Period Extensions: One of the simpler types of upselling is an offer to extend the service period that the product offers.
For IT firms, a post-purchase upsell strategy is easier as compared to other industries, and having a solid strategy is very important in the preliminary stages.
Be Forthright with the Upsell Offer
Being overly subtle with the upsell offer runs the risk of the customer ignoring the offer, especially if they are satisfied with the product in the first place and have adopted it successfully within their enterprise. This is why it is necessary to be direct with the offer to upsell. More than that, sales reps need to inform the customer of all the benefits that the more valuable product or version of the product offers.
A very good aspect of a direct upsell strategy is to wait until the customer experiences implementation and adoption success with the product. This will give the sales rep an advantage since they will be able to refer to the aforementioned success and inform the customer that the better version has massive potential to benefit the customer’s enterprise even more.
Maintain Product-related Upsell Relevance
This is the one aspect of sales that e-learning sales reps should already know, by virtue of their jobs. For an IT-based e-learning firm with many products on their catalog, it is important to view which programs or versions of programs are being offered on the upsell. Sales rep need to see which product or version of the product will be most advantageous to the existing customer.
A good technique here is to observe which programs, whether in the same product category or in a different one, will complement the product that the customer has already bought and adopted. Such a product, if more expensive as compared to the originally sold product, can contribute to a successful upsell if the sales rep lets the customer know that the latter version will be better for them and their enterprise as a whole.
Personalize the Upsell Approach
According to research by Accenture, 75 percent of the total customers are more likely to make an additional purchase if the seller either knows their buying history, recommends services based on the buying habits of the customer, or (in the way of a more personal touch) addresses the customer by name. This is perhaps the simplest point of consideration, especially f the sales rep attempting the upsell is the same as who sold the product to the customer in the first place.
Additionally, personalizing the recommendation based on the specific needs of the customer will help make the upsell.
Use Effective Sales and Marketing Language
This points directly to the aforementioned informing the customer of the virtues of buying the more expensive program. A number of websites have the feature where they compare the cheaper and more expensive version of the same product side-by-side and list all the advantages that the more expensive product offers to the customer. While sales rep doesn’t need to put down one version of the product in support of another, it is beneficial to subtly let the customer know that what they are using can be improved by paying that much extra.
Utilize Training as an Upselling Aid
One variable that can guarantee a successful upsell on the sales reps' part, is complete functional knowledge of the product, on the part of the customer. such functional knowledge can only come from training related to the product. Training is particularly beneficial here because it can be offered at both the very initial stages of the sale i.e when the customer is considering buying the software, as well as when their workforce is preparing to implement the product. Considering the latter; if the workforce is well trained in using the product to its utmost potential, they can really benefit from a version of the product that offers greater functionality; thus helping the upselling process even further.