The Art of the Upsell: Four Ways Sales Management Software Helps!

2020 has certainly been a year filled with challenges. Salespeople who have mastered the “upsell” have fared well in maintaining earnings and more importantly, providing value to their customers.  Here are 4 ways sales management software helps you win more upsell sales!

By Tracy Larson

We all know the saying, “A bird in the hand is worth two in the bush.” In security sales, that’s certainly the truth. Keeping your existing client base happy can provide a steady revenue stream that requires less elbow grease than bringing in new customers. With a pandemic year making it harder to network and establish new relationships, we are all the more thankful for our existing loyal customers!

2020 has provided ample opportunity for upselling. The solutions you’ve installed, and that your customers have relied on, may need to be revisited due to changing health, safety, and security concerns. Now is a perfect time to be reaching out.

Don’t overlook this low hanging fruit!  Executives and sales leaders – determine how much of your organization’s quota should be coming from upsells and reward your sales team for reaching those goals. Sales management software can help. Here are several ways to leverage its capabilities to help your sales team identify upsell opportunities, present them most effectively, and close more sales.

  1. Identify Opportunities: A well-used CRM is an invaluable tool not just for prospecting, but for keeping in touch with existing customers. Set reminders to reach out to current customers at least once a quarter, not just to touch base but to make sure their needs are being met. Prepare a simple conversation: Ask if anything has changed; share with them new solutions you may have; revisit items you know are on their “wish list” based on notes you’ve kept within the CRM. Priorities and security needs have likely changed due to our current work reality and will probably continue to do so for the foreseeable future. New topics to discuss might include solutions for health screening, visitor management, contact tracing, “touchless” technologies, and remote security system monitoring and management capabilities. Your customers already trust you; they’ll appreciated your care in reaching out and expertise helping them to navigate new security challenges. (Fore more on leveraging Sales Reporting to identify opportunities, click here.)
  2. Present Options: Everyone appreciates choices and most don’t like being pressured into purchasing something beyond our comfort zone. If you’re trying to upsell a customer, whether that means getting them to commit to a longer service contract, expanding their system or adding something new, offer options representing good, better and best solutions. This allows customers to see clear differences of what they’ll get at each level and, if priced strategically, they’ll reach conclusion – on their own – that they’d rather go with a better or best option.

The beauty of sales management software is that it makes presenting different options easy. Salespeople can quickly present different products, services, or packages and run pricing on the fly. They can also see how these options affect their margins, commissions and quotas, incentivizing them to create options that offer a win/win for all involved. And, sales management software ensures that any options presented have the blessing of management. The software will prevent presentation of upsell packages that don’t make sense, either from a solution or profitability standpoint.

  1. Automate Upsells: If there are standard items that your organization wants included in every sale, sales management software can be configured to include those parts, labor or services in every quote. This can be done by offering pre-defined solution “packages”, parts may automatically include labor, or certain items that automatically calculate when added to estimates, like warranties and recurring services. Salespeople can always remove items from a sale if the customer pushes back, but using this method makes the upsell your default approach.
  2. Strategize Future Investments: Enthusiastic customers sometimes express interest in solutions or projects that, when quoted, turn out to be beyond their budget. Rather than walk away, sales management software empowers salespeople to work with these customers to reach their security objectives in ways they can afford. Projects can be broken into phases, prioritized, and priced separately. Less expensive parts or services can be considered. Different payment models can be presented that involve a lower upfront investment, like rent-to-own options, or finance plans. Ultimately, a solution can often be reached that involves selling the customer more than he or she “thought” they could afford, with an opportunity to upsell additional elements at another time. Of course, returning to the first point in this blog, don’t forgot to document future phases of the opportunity in your CRM and set reminders to follow up. You’ll be a superhero for your customers, someone who is thinking of them and providing solutions that help them meet their needs.

In summary, salespeople who have a means to identify upsell opportunities, flexibility in what they can offer, and a way to price and present professionally and consistently, have an advantage when it comes to upselling. By providing a centralized way of scheduling and tracking these sales, quantifying success against individual quotas, and efficiently and effectively presenting to your customers, sales management software can make all the difference!

What solutions have you been upselling during in 2020?

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