Using a downsell is one of the excellent options for attracting new customers and for building long-term relationships virtual roundtables with them. It is an easy method which does not require any lengthy analysis or large financial decision. It involve reducing the cost and offering your product or service at a lower price to your customers when compared to the core product or service.
Here is a tip on how to use the downsell option in your business.
For instance, if you are a marketing consultant or a salesperson, the downsell option will help you to solve all types of revenue problems. One of the most common problems marketing people are facing now is that they do not know how to evaluate from one customer to another customer how to make more profit when the money is tight. It is difficult to justify how to spend money without a guaranteed return.
Therefore, what you have to do is to create some low cost and easy to purchase products or services for the customers. Not the lost leader types, but real products and services that are meaningful to your prospects. A big advantage is that it will not require more commitment and decision of money and time. The product or service that you provide has to be very effective in building credibility and trust.
Downselling will let possible customers quickly move from prospect to customer. From this, you will be able to make a lot of income and revenue. Downselling will allow you to capture more new relationships, establish trust, and position yourself on some of the higher margin services. This really works, since the downsell offers are becoming widely accepted.
In order to create a business relationship and build trust, downselling is a great choice, particularly when the customer chooses not to purchase the core offering.