Win-Win Upselling (1,133 words)
• You'd need to know: how the home business uses the equipment, the current system configuration, how old the equipment is, how it has been customized by the user and the limitations of the current system.
• You'd need to offer: specialized products or services that apply to a wide range of businesses and are not readily available elsewhere.
On the whole, this upsell or cross-sell situation falls toward the more complex range of potential projects and may not be financially viable by telephone.
Let's change some of the variables and see how they'd affect an upsell equation. Instead of home-based businesses, we'll target small businesses in a vertical market (independent community banks) whose day-to-day transactions are dependent on an older version of a legacy software system. The newest release you're offering has been debugged and will solve many of the problems in the old version which typically bring down the system. Better yet, the older version will no longer be supported free of charge, starting in 60 days.
This second case is an upsell no- brainer: Many prospects will be very interested in converting to the new release and quickly. Most will also appreciate the heads-up call, whether they update their software or simply explore options for paid tech support on the older release.
The inbound version of this scenario is also strong: a bank who calls in with technical problems related to the old software or is looking for a compatible peripheral is a likely prospect for the new release. In this case, however, remember that you still have a number of potential obstacles to the upsell.
First, Sue Banker who is calling in about the problem may not have buying authority for the new software. Or she may have a vested personal interest in keeping the outdated software (if she has built job security on being the only person who can troubleshoot the old version).