How to Get Undying Loyalty and More Profit From customers with a Little Known Used Technique

Source: www.millionslink.com

By: Dan Cavalli, Fri Sep 11th, 2009

Never give your customer the choice of deciding to add an additional product that is a traditional up-sell as this is what most ordinary businesses do to get extra revenue. Offer the ability to on-grade their current order size for just a difference of [fee] maybe for a larger, different package [with your new warrantee] instead. This is sheer profit for the wise business owner. For example, you might want to name your packages in a certain way that stratifies each package on a quality or size basis for example: a “Premier,” “VIP,” or “Standard” package. Then your offer is an acceptable on-grade. Say from the standard to the better VIP package [with your new extended benefits warrantee]. Make sure you explain to your customer they are getting this additional discount, or additional incentives delivered with your on-grade because of the extended benefits warrantee. This is what “locks in” your customer for future purchases and prevents them from going to the competition via their own volition rather than forced to stay if they are committed through contract or term product. That way, they are certain to remain loyal to you for their future needs well after the contract ends. On-sell rather than up-sell is the way to go. A hidden advantage here is to create a new language for the customer to use when your competition comes knocking. The competition can’t compare apples with apples because they don’t know what an “on-sell” is. But you customer will if you do your job correctly. Naturally, you want to tangibilise [not make vague or elusive] your on-grade in the form of a printable certificate, coupon, letter, or email but limit the timeframe in which they may exercise their option, in order to induce a sense of urgency and prevent them from cashing in beyond a longer, unfavorable amount of time. The best part is when you follow up with your monthly newsletter designed especially for this class of customer. The benefits to a business using this follow up is abound. This is the ownership of the benefits that the customer needs to be reminded of. the protection from competitors if you like. The biggest weakness to this form of selling [while being your biggest asset] is many marketers and businesses shy away from them, because they fail to see it from their customer’s perspective and therefore won’t use the technique. That’s why training is essential to get it implemented. Extended warranties are profit centres. They’re also powerful positioning tools to increase your core business and the quality of your customer service, at the same time. People love to have the option and feeling that they are being taken care of. They also want to reduce the element of risk in the buying process. So, help them feel more secure with the knowledge that they will continue to enjoy your product or service. Sell them extended warranties! *A business may lose up to 15% a year in natural attrition *In some businesses this is identified when a customer moves their business to another provider. **Increased sales over and above what you are making now. More about the author Dan Cavalli and his teachings go tohttp://www.the-richest-man-in-babylon.com