Tag Archives for " Upselling "

AI Sales, Erroin Martin, Donald Kelly, The Sales Evangelist Podcast

TSE 951: How To Increase Sales Faster Using AI

Artificial Intelligence, Upselling, Erroin MartinOn today’s episode of The Sales Evangelist, Erroin Martin shares what he has learned about artificial intelligence and how sales professionals can increase sales faster using AI.

Martin is the vice president of sales at Conversica, with 20 years of experience in sales. Conversica does conversational artificial intelligence for B2B and B2C.

Robots?

Artificial intelligence is a series of algorithms that are statistical models looking to repeat tasks or transactions that happen on a routine basis.

Anti-lock brakes are a great example of AI. Many years ago, drivers were taught to pump the brakes when stopping to avoid having your car’s brakes lock up. ABS actually pumps the brakes for you. It’s a repetitive task that doesn’t require a human being.

In the business world, there are tasks that you don’t need to pay a human to do. The technology is artificial in the sense that it’s manmade. It’s intelligent because it can learn from its errors as well as from training models.

There are countless applications of AI in the sales space. AI can create a transcript of this conversation, evaluate past performance to predict the future and conversational AI which can handle some of the routine follow-up emails or tasks that happen in the sales process.

Healthy balance

The ATM is a great example of the balance possible with AI. Thirty years ago, people stood in line at the bank to deposit checks or handle transactions.

When the ATM emerged, people feared that it would take jobs from bank tellers, and for a while it probably did.

Now, though, there are still tellers in banks, but many of those tellers became loan officers or financial advisors. There are actually more people in banks today than there were before the ATM.

ATMs removed some jobs but it allowed the creation of better jobs.

The means of operating evolves.

Mundane tasks

The number one task that all sales managers want their people to do but which sales reps hate doing is logging their activities in their CRM.

Those tasks are important but they are boring. If you don’t record your activity as you go, it stacks up on you.

It’s a mundane task that is automated now.

Think, too, about the follow-up of a lead. Leads are the most important thing marketing can give you. If you try to craft an email to 10 leads, eventually you end up doing copy and paste.

AI can help you create inviting messaging and engage the human that responds until the human rep can respond.

Transcription tools also help sales managers provide coaching to their team members. It can help with re-education and help to highlight the best parts of what your team is doing.

Increasing sales

The next piece of AI is finding like-minded customers.

No matter how messy your databases, AI can look at your past wins and evaluate your current databases and identify those who are more likely to buy your products and services and engage with your company overall.

It’s one thing to find customers, but it’s another thing to keep customers and grow your customer base. You always want to make sure you’re talking to the right people.

AI can give you hard data about the conversations you’ve had that you can use to back up your efforts because human beings aren’t really good at assessing the subtleties of a changing market.

Big companies are like battleships and small companies are like speedboats. Small companies can be rocked by waves that can swamp the boat really quickly. Large companies can weather the waves better. AI can move an organization that is so large it doesn’t really feel the impact of smaller changes.

Understanding the customer

There are AI tools that help you understand your customers based upon what is in the news, and AI tools that help you track when it’s time to connect with your customer.

AI can make your time with your customer much more impactful.

Sales reps can also use AI to help with upselling to help you recognize when your customer is ready to engage in the buying cycle and to identify which customers are the best ones for you.

The best customers are the ones who have already bought from you before because you’ve overcome their initial fear and developed the relationship. They know what it’s like to deal with your products and services.

Conversica

Conversica works in a traditional format as a revenue-generating tool for both sales and marketing. It’s engaging inbound leads and following up with leads.

It also provides the ability to engage with partner leads.

Conversica uses AI to identify upsell opportunities and to make sure customers meet their quarterly needs. The finance team uses it to help with collections.

Everywhere they can automate the conversational experience,   Conversica uses AI.

Fear

Companies haven’t completely embraced AI for a couple of reasons.

No one has really thought about the technology and how it applies to their business. As a follow-on, there’s a great fear of the unknown.

Computers and phones once changed the dynamics of the work world by automating tasks.

Companies must have a roadmap of where they want to get and how AI can help them accomplish that. Failure to map out a plan will fall behind the competition. Those that do create a roadmap will be anywhere from 7 to 10 times more profitable.

Fear is fully understandable. Human beings resist change even though it happens all the time.

Adopt AI wisely. Find the areas where AI might serve you well. Set realistic expectations.

AI is a series of statistical algorithms made by people and trained by people. AI isn’t infallible.

It also won’t solve every problem your company has so don’t expect it to be a perfect cure. Along the way, you’ll uncover processes that are broken or struggles you didn’t realize existed.

AI isn’t a Hail Mary approach, but be willing to embrace change. It always happens.

Be totally, passionately into your customers. Understand their business and you’ll learn to recognize change before it actually happens.

“Increase Sales Faster Using AI” episode resources

Connect with Erroin via email or on Twitter @myconversica.

This episode is brought to you in part by Maximizer CRM, personalized CRM that gives you the confidence to improve your business and increase profits. To get a demonstration of maximizer, go to the sales evangelists.com/maximizer.

Click on the link to get a free demo of what Maximizer CRM can do for you. Maximizer is intuitive, simple, and personable. Maximizer integrates your marketing campaign as well as your CRM, and it works whether you’re a small organization or a large one.

This episode is brought to you in part by prospect.io, a powerful sales automation platform that allows you to build highly personalized, cold email campaigns. To learn more, go to prospect.io/tse. It will help you with your outbound to expand your outreach and it allows you to set it and forget it. Your prospecting will never ever be the same.

We’ll use prospect.io in the upcoming semester of TSE Hustler’s League to focus on prospecting. We’ll give you insights and tools that will help you gain new customers and provide training and strategies that you can implement today to ensure constant flow in your pipeline.

Check out TSE Hustler’s League and apply to see if it’s a good fit.

Leave us a review on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content, and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode, and share it with someone else you think might benefit.

Audio provided by Free SFX and Bensound.

 

Upselling, Donald Kelly, The Sales Evangelist, TSE Hustler's League

TSE 950: TSE Hustler’s League-“The Upsell”

Upselling, Donald Kelly, The Sales Evangelist, TSE Hustler's LeagueThere’s no need to reinvent the wheel. Instead, let’s make the wheel more effective. If something already works, try to improve it rather than starting from scratch. It’s so much more difficult to find new customers than it is to sell to people who are right there in front of you.

On today’s episode of The Sales Evangelist, we’ll talk about upselling as part of our monthlong conversation about closing. Specifically, we can increase sales faster by upselling.

Upselling

McDonald’s uses its world-famous hamburger to upsell its customers. Once they have the customer’s attention, they work to sell the products that have higher margins. It isn’t that the company loses money on the burgers; simply that it makes more money off the fries and drinks.

Once the customers are in the restaurant, they encourage them to upsize their meals, which adds a couple of extra dollars to the overall bill.

That’s an important concept for sales professionals. We should focus on the customers who are right in front of us in addition to working to find new customers.

Existing customers

I was listening to Russell Brunson recently, the genius co-founder of Click Funnels,  talking about his first experience with funnels.

He was selling a product, and he went through his competition’s buying process to discover what they were doing. As he moved through the funnel, he noticed that the company worked to upsell him three or four times after he placed a product in the shopping cart.

If, for example, the product was $19.99, the company showed its customers how buying two or three bottles would save them even more money.

That makes sense for the customer because he is saving money, and he doesn’t have to come back and reorder next month. The customer came to the website to spend a certain amount of money, but he spent twice as much as he originally planned.

Now imagine doing that with multiple customers.

Encouraging people to buy more increases the company’s revenue tremendously.

Missed opportunity

Sales reps might be so focused on getting customers to buy a product that we overlook the opportunity to upsell them.

Maybe you’re trying to familiarize your customer with your brand or product and you need a strategy to invite them to purchase something more.

Here’s an exception: Don’t sell your customers something they don’t need. Understand your customers and their needs and focus on what they are trying to accomplish.

If it makes sense for them to buy additional products, it’s your moral obligation to invite them to do just that.

You’re their advisor. Your job is to help them solve problems.

Don’t focus only on money. Instead, help them find value by giving something they truly need. When you do that, you’ll benefit from it as well. You’ll make more money and hit your quota more easily.

Options

McDonald’s gives its customers options. Are you giving your customers options or are you taking options away from them because of your insecurity or fear?

There’s always the possibility that your customers will say no to additional products, but if you never give them the chance to say yes because you’re afraid of rejection, you might miss an opportunity to provide even more value.

Consider whether there are complementary products that you can add to your customer’s transaction that will make it easier for them to implement your solution. If you’re selling a scanning software, can you sell the customer a scanner as part of the transaction?

Is there another product or service that customers typically purchase within 6 months of their original purchase? Is there a way to bundle that product with the original purchase?

If that isn’t possible, can you build your account management strategy so that you follow up with existing customers at month three to offer them this additional purchase?

McDonald’s successfully uses upselling. Airlines offer upgrades.

Not everyone will take advantage of the opportunity but a percentage of your customers will. Invite them.

“The Upsell” episode resources

This episode is brought to you in part by Maximizer CRM, personalized CRM that gives you the confidence to improve your business and increase profits. To get a demonstration of maximizer, go to the sales evangelists.com/maximizer.

Click on the link to get a free demo of what Maximizer CRM can do for you. Maximizer is intuitive, simple, and personable. Maximizer integrates your marketing campaign as well as your CRM, and it works whether you’re a small organization or a large one.

This episode is brought to you in part by prospect.io, a powerful sales automation platform that allows you to build highly personalized, cold email campaigns. To learn more, go to prospect.io/tse. It will help you with your outbound to expand your outreach and it allows you to set it and forget it. Your prospecting will never ever be the same.

We’ll use prospect.io in the upcoming semester of TSE Hustler’s League to focus on prospecting. We’ll give you insights and tools that will help you gain new customers and provide training and strategies that you can implement today to ensure constant flow in your pipeline.

Check out TSE Hustler’s League and apply to see if it’s a good fit.

Leave us a review on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content, and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.

If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode, and share it with someone else you think might benefit.

Audio provided by Free SFX and Bensound.

 

John Brubaker, Donald Kelly, The Sales Evangelist Podcast, Upselling

TSE 583: Stop Leaving Money on the Table

John Brubaker, Donald Kelly, The Sales Evangelist Podcast, UpsellingToday’s episode is jam packed with great insights into two of the essential aspects of sales: Prospecting and standing out.

Today’s guest is John Brubaker, a nationally renowned Performance Consultant, speaker, and award-winning author. He has written six books on leadership performance including his latest book, Stadium Status. John shares his secrets to keeping a healthy pipeline and the secrets to upselling.

John actually started as a lacrosse coach and getting fired on his birthday became a blessing in disguise that eventually got him into the world of sales and entrepreneurship.

Here are the highlights of my conversation with John:

The Coach Approach:

  • Don’t sell. Recruit.
  • John took his skills he learned as a college recruiter where you sell the invisible and you’re selling hope, dream, and education.
  • John sold radio airtime and took the best practices he learned selling a more expensive product or service and applying it to the world of advertising and sponsorship.

How to Sell a Dream:

John did college recruiting for three years until going on his own as an entrepreneur, speaker, and author. He says the fundamentals of selling are all the same.

  1. Prospecting – Identify good opportunities.
  2. Qualify the prospective buyer. – Be able to sniff out the suspects. Separate suspects from prospects.
  3. Tell a story and make a compelling offer. – People want you to solve a problem (ex. save money, find them more time, new revenue stream).

Be different.

John explains that It’s ingrained in us through our educational system to fit in and stand out, to be seen and not be heard. You’re not taught to question authority or taught to be different. So it’s hard to be able to differentiate. You have to find ways to differentiate, to add more value, and stand out.

Your reality is not always right for everyone. The faster you can get a no from the suspects, the easier it is to sort through the prospects and figure out the right ones to get a yes. According to John, best practices are well and good. However, they become common practices. Unique, remarkable brands stand out for something and one thing ideally.

Make an intangible product tangible.

John tells a story of how they actually turned an intangible product where they sold airtime into a tangible product through experience. And through that simple act that no one else was doing, they hit the rating books for the first time in the history of the station.

Another example is Flo. Progressive Insurance took an intangible product which is insurance, that’s not sexy and they attached a human being with a fun, goofy character to it and put her on a retail store front. They made an intangible tangible and they made it fun.

Get creative and make your own version of that. Have the courage to stand out and be different.

Do not rush the process.

In sales, we’re always rushing and doing everything so fast. Learn how to work your process and just play the long game.

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Strategies for Upselling:

  1. Show people success.

Show to them early on how your product solves a problem. Oftentimes, a buyer will trust you with something small before they’re willing to trust you with a bigger deal. Show first that you can drive traffic to the door. Once they’re happy with that, you have that opportunity to upsell.

  1. Attach celebrity, social proof, and name recognition to your brand.

In any way you can, try to tie in celebrity, social proof, and name recognition to your brand.

  1. Build that trust.

What business are you really in? First and foremost, you’re in a relationship business. Built that trust and it will pay dividends later.

Strategies for maintaining a healthy pipeline:

  1. Build a brand that attracts instead of chasing.

Cold calling and those traditional ways of selling are an example of chasing. People are going to run away from you and that’s exhausting.

In order to get people interested, you need to first be interesting. Be different or be invisible.

In his book, Stadium Status, John interviewed American country rapper Cowboy Troy where he explains the concept of the Law of Sevens.

  1. The Law of Sevens

Seven is the number of methods you need to employ to make your brand known. Our brain remembers things in units of seven. (ex. phone numbers). Have seven different ways to connect people back to your brand. Figure out seven ways that you can make yourself known to the public and attract people to you.

Create a minimum of seven different points of awareness for people to be attracted to you and make you a household name (ex. Publish a book. Host a radio show or podcast. Contribute articles to a magazine or trade publication. Get out and speak. Be a media guest.)

Seven is also the number of times people need to see your message before they move to take action.

Some insights from John’s Book Stadium Status: Taking Your Business to the Big Time

  • The biggest problem you have is not having enough people to pay attention to your brand, product, or service. The Law of Sevens come in here.
  • We are in an attention economy. Attention comes first. Then, you can monetize people’s attention.
  • Obscurity is the biggest thing everyone is fighting in sales, not the competition or lack of resources.

John’s Major Takeaway:

Focus on your first few fanatics. We have our fans and we have our super fans. The more we cater to our super fans and over-deliver to them, the more they advocate for us and they can expand the amount of attention we get for our brand.

Episode Resources:

Find John on www.CoachBru.com or www.CoachBrew.com (John’s bonus strategy: If you have a website, buy the misspelling of your website.)

Check out John Brubaker’s books:

The Coach Approach

Stadium Status

Join our online workshop this week, 5 Simple Strategies to Increase Your Win Rate and get real stuff you can apply and implement into your business!

Outliers by Malcolm Gladwell

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

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Upselling, Dr. Carrie Rose, Donald Kelly, The Sales Evangelist

TSE 358: How To Increase Sales Through Effective UpSelling Offers

Upselling, Dr. Carrie Rose, Donald Kelly, The Sales Evangelist Today, we’re going to talk about how to increase sales through up selling offers. But first of all, I’ve got a few questions for you:

  • Are you currently making sure that you are up selling to your customers or are you too afraid to ask?
  • What kind of product can you create on the front end that makes your product or service be the upsell?

We have a very exciting topic on the show today and joining me is Dr. Carrie Rose. She is a Partner with Brand Legend Inc., that handles digital branding for clients where she specifically focuses on online course creation and info product creation.

Here are the highlights of my conversation with Carrie:

Once you’ve made the sale, you’re 6-7 times more likely to make another sale from that same customer if they are happy and satisfied.

Reason for failure to upsell: Fear

Are you good enough to make the sale? Are you enough to offer value in a more interesting way? Fear can play a role in this. But do you know your customer? Do you know what your customer wants? Checking in with people is the best way to start.

Ways to check in with your potential customers:

  • Surveys
  • Split testing
  • Reaching out to your current clients

Effective strategies for upselling:

  1. Reach out.

Reach out and find out what kind of product they’re wanting and develop that for them.

  1. Put a price on it.

People tend to attach more value to something they paid for. When they get something for free, they don’t necessarily value it and the same if you give it to them too low. Putting a price on it a little higher makes them respect it more and listen more.

Sometimes, too, having a cheaper item takes 2-10x work to sell it to one person versus having a higher price and you won’t have to sell it as much. With a higher end product, you earn more while using less time and less resources.

  1. Have the desire to just jump in and do it.

Sheer determination is key. Creating a course is a financial investment. But it’s a matter of pulling the trigger and giving it a go. Take the risk. Get uncomfortable in order to take chances.

  1. Desire less for perfectionism.

People are afraid to launch because they want everything to be perfect. And it’s never perfect until you launch. It’s never perfect until you get that feedback that tells you how to change it from the people experiencing it on the other side. Just go, see, and find out.

  1. Less transactional, more relational.

Whether you’re automating a process or not, understand that before the money was in your bank account, it was in somebody else’s bank account. Do personal phone calls when you follow up with them.

How to build yourself to take risks:

  1. Take action.

The magic that happens from going. The magic that happens from momentum. You can have a vision board all day long, but unless you do something about it nothing will happen.

  1. Ask for it.

Be brave about it. If you find out you’re asking for a price that is not selling, then change the product or service or price. You basically get data from it and it’s where you can make your decisions on.

  1. Make it a habit.

When is the right time to upsell? Always. Just always ask for it.

Upselling Lines and Phrases:

Be natural. How can you be natural? Build that personal relationship first. When you’re invested in your clients, it’s a lot easier to ask. You’re asking from a place of heart and not from a place of trying to make money.

Carrie’s Major Takeaway:

Ask. Develop a method for feedback you can tie to your business that works for you. Find a system that makes it personal. Develop a series of questions inside of your business to clarify how you’re supporting them. Find out what else they want. Make sure you’re focused on them and doing your research.

Episode Resources:

Get connected with Carrie on www.drcarrierose.com or www.brandlegend.us. Also find her on Facebook.

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

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The Sales Evangelist, Donald Kelly, Donald C. Kelly

 

Donald Kelly, The Sales Evangelist Podcast, TSE Hustler's League, Fear of Rejection

TSE 335: TSE Hustler’s League-“Rejection and Upselling”

Donald Kelly, The Sales Evangelist Podcast, TSE Hustler's League, Fear of Rejection Today, I’ve pulled out yet another snippet from one of our training sessions over at TSE Hustler’s League so that you too might be able to benefit from these. In this clip, we talk about overcoming the fear of rejection and the concept of upselling, which are two essential factors in any salesperson’s success.

Here are the highlights of today’s episode:

Overcoming the Fear of Rejection

Fear is a limiting belief that actually prevents you from taking action and living your experience. C’mon now, what is the worst thing that can happen when you’re trying to sell your product or service to somebody? It’s just getting a “no.” Besides, you can’t lose something you never had. You can’t hide. Face your fears and just tackle them.

Asking for More

Don’t be scared to ask for more sales. There is nothing wrong with asking, “Is there anything else?” because it always does work. As you’re meeting with your prospects, bring out an unconsidered need that they weren’t thinking about. Be sure to ask if there’s something else that they may have trouble with because you just might have the solution for it. The great thing about upselling is you gain more money with less people.

 

Episode Resources:

Adversaries into Allies by Bob Burg

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

Cross Selling, Upselling ,Drift Startup, The Sales Evangelist Podcast

TSE 328: Cross Selling and Upselling

Cross Selling, Upselling ,Drift Startup, The Sales Evangelist PodcastToday’s episode is all about the idea cross-selling and upselling to your current customers and we have Kevin Karner on the show today to give us more insights into how this can be done effectively.

Kevin works at Drift that offers live chat upgrades for new businesses where they take chats onto your website with more accessibility and as a sales tool. Kevin runs the Customer Growth department to find customers and get them on board. Kevin previously worked at HubSpot. Listen in as he offers tons of great information about the importance of cross-selling and talking to your customers.

Here are the highlights of my conversation with Kevin:

Why people do not cross-sell:

  • Not knowing how
  • Fear of doing it

Finding good customers to upgrade:

  1. Track what kind of content they’re looking at on the site.

Flag them on the CRM for follow up and engage with these users.

  1. Ask people.

Put in different calls to action inside the product. You can put it directly or through in-app engagement every once in awhile.

How you can appear more human:

  • Customer support comes from the same person every time.
  • The same person follows up with you.

Effective ways to start engaging with the customers:

  1. Get people into a trial.

Get people directly into your product.

  1. Cut down the trial time to 14 days or 7 days, for instance, and it would make people actually use it.

Scaling an upgrade without adding more people:

  1. Create a task, role, or a position focused on driving upgrades using a consultative sales approach.

Results of upselling:

10-20% increase potential every month

Focus on problem solving

Numbers are crucial but at the end of the day, it’s about solving people’s problems.

Kevin’s Major Takeaway:

Talk to your customers. Just get on the phone with prospects. What are they looking for? What do you not have that they want? How can you make it so that they would want to buy your product? Get verbal feedback.

Episode Resources:

Visit www.drift.com or connect with Kevin at kevin@drift.com

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

The Sales Evangelist, Donald Kelly, Donald C. Kelly

Cross Selling, Clay Clark, Donald Kelly, The Sales Evangelist Podcast

TSE 316: Give Yourself A 20% Raise | The Art of the Cross Sell

Cross Selling, Clay Clark, Donald Kelly, The Sales Evangelist Podcast You may be doing well with your sales right now but you can’t just stay at one level of your career. You always want to push yourself forward. And at certain points, you would have to upsell or cross-sell. Today, I’m bringing in the amazing Clay Clark as we talk about giving yourself a 20% raise on the art of cross-selling. Clark is going to teach you some specific moves you can apply to dramatically transform your sales game or system.

Clay Clark owns 9 different companies. He is part owner of Elephant in the Room, a membership-based grooming lounge for men with thousands of members. He is also involved in businesses in various spaces including photography, PR, and fitness. What consumes most of his time though, being that which he’s most passionate about, is the Thrive 15, an online education school where they seek to create the world’s business school experience for less money than what people would normally spend.

Here are the highlights of my conversation with Clay:

Key things to remember when cross-selling or upselling their business:

  • Selling is a finding a problem that somebody has.
  • Show them the gain of using your product or service.
  • Show them the pain if they don’t use your product or service.
  • Support that with facts so you gain credibility.

Steps to transform your sales game:

  1. Create a needs assessment checklist.

Make sure you’re able to commit to doing it over every single customer.

  1. Ask.

No matter how noble or trivial your cause is, be sure to ask. Just ask. Remember that people will only buy when they can see a clear dissatisfaction with where they are currently and where they want to be.

  1. Observe the law of credibility and implement it.

Even if you’re so excited about your product, do not say anything that you can’t prove. When you don’t understand the law of credibility and don’t use it, you’re going to be beat up by it whether you accept it as a law or not.

Clay’s Major Takeaway:

Change your life. If you’re looking for a business school without the folly, go to Thrive15.com. Check out Thrive15 and take the 7-day challenge, the world’s best business training platform. They provide templates, tools, workshops, and the “ask a mentor” feature where they answer every question you have.

Episode Resources:

Thrive15

Email Clay at info@thrive15.com to get a free 5-point self assessment for sales and upselling and one of their coaches will call you.

Atul Gawunde’s The Checklist Manifesto

Jerry Vass’ Soft Selling in a Hard World

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Join Today! 

The Sales Evangelist, Donald Kelly, Donald C. Kelly