Upselling is a method of generating incremental revenue by selling more of the services and products already offered to customers. It requires business know-how, intuition and relationship-building. Upselling during economic uncertainty like COVID-19 can be daunting, but companies that can strategically and compassionately navigate it will be the ones that make it out on the other side in good standing.
Five tips for upselling in times of uncertainty include being sensitive to what the market needs, being willing to bend the rules, identifying customers that are doing well, those that aren't and doubling down on your value prop. Reaching out to understand how you can support customers and assuring them that the relationship is in good standing can help build goodwill.
Focus on your minimum viable market and the minimum viable marketing to keep costs down and profitability up. Doing so will help you adjust and modify your offerings to meet customer demands and remain successful during difficult times.
Five Tips for Strategic and Compassionate Upselling in Times of Uncertainty
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