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Factoids |
| Up-selling is the difference between merely surviving, and
truly succeeding |
| Up-selling as many as 75% of your customers is possible
with an organized, well executed plan |
| Keep a list of Add-On items next to the computer |
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July, 1976. I was a 90lb, 15 year old, long haired kid, wearing a paper hat
and apron, being told by an extremely large man named Ralph (with a bad toupee),
to repeat these words..."Do you want slaw with that?" "Say it with feeling
boy," he said.
I had, up to that moment, lived a relatively sheltered life and had never
witnessed a man speak with a chicken bone protruding from the side of his mouth
like the stem of a lollipop. Hoping to prolong this display of
talent I said, "Why should I ask...If they wanted slaw they would have asked for
it." He smiled, adjusted his hair, and proceeded to teach me a lesson I still
use today. "It doesn't matter if it's chicken or Cadillacs son, if you ever
expect to sell anything, you've got to ask for it."
Desperately hoping that, if I learned this lesson well, he would teach me the
'hands free chicken bone speech trick', I settled in behind the drive-through
microphone and got to work. To my delight, I was able to 'up-sell' nearly every
customer. After mastering Cole Slaw, I moved on to apple pie, then tater-tots. I
was drunk with power. I truly believe that if I had asked "Would you like a
bucket of nuclear waste with that 3 piece combo?", people would have gladly paid
me for it. I was influencing what other people did. And the only tools I needed
were my voice and attitude.
Up-selling can be the difference between merely surviving, and truly succeeding.
Anyone can open a Rent to Own store and get customers. But it takes talent to be
truly successful. Often times, the difference between surviving and succeeding
is only a few percentage points. Up-selling, convincing a customer to add-on
items, will provide that margin.
Think of it this way. If your average agreement is $19.99/week and you convince
just 25% of your customers to add-on an item for only $5.00, you will
increase your BOR and revenue by over 6%. Up-selling as many as 75% of your
customers is possible with an organized, well executed plan.
Make a list
For every category you rent, make a 'complete room list'. For example, a
complete living room group consists of...
Sofa
Love Seat
Chair
Recliner
Cocktail Table
2 End tables
Sofa Table
2 Lamps
Curio Cabinet
Pictures
etc
Place your list next to the computer and never, ever fail to ask for the
add-on. When a customer rents any of the items on a room list, suggest adding
other items. "For only a few dollars more, you can add an entire set of
tables"... "Wouldn't it be nice to come home to comfortable recliner with your
new living room suite?".
Note to software designers: An
automatic pop-up that suggests add-ons based on category rented would be a
fabulous addition.
Make a contest out of it. Keep track of add-ons per associate and recognize
those that excel. Have them share their approach with others.
Although I have yet to master the 'hands free chicken bone speech trick', I can
testify to the power of suggestive selling. Your customers will be happier with
their rental, and you will increase revenue between 6% and 18% without
increasing expenses.
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