May 21st, 2012
Sales Leadership: Increasing Wallet Share with Cross Sell/Up Sell Strategies
During a recent meeting with a new client’s sales team we began discussing ideas to drive additional revenue, during the meeting I began to poke at what products/services they currently have to offer and then we began a discussion on the concept of cross sell and up sell.
Over the many years as a sales leader and as a consultant, when potential sales looked weak, the first action I would take would be to analyze all existing clients as to what products and services they currently use or have implemented. Next, I would determine what logical new or additional products/services I could offer the client. During my recent client meeting we began to map out, by client, specific and tactical plans to contact certain clients, what messaging we would use and a justification for the natural progression into the new offering. In effect, we created a “Flight Plan” or roadmap for each client where there were potential business opportunities.
If you have not done this kind of project, the summer is a great time to work on this exercise. If business is slow, focus on your base of clients using the cross sell/up sell concept to assist them in their achieving business objectives with new or update product/services offerings.
If you have multiple vendor product lines, it is critical you map out what logical cross sells or up sells are, I will guarantee you will find many missed opportunities. I have found that in most organizations salespeople simply don’t see the connections or the applications within the client and therefore miss many sales opportunities. HINT: Use your technical teams to work with the sales teams in creating the flight plans.
Memorial Day will be here soon, the opening of summer! Based upon the many topics I have shared on this blog, I expect our readers to have a terrific three months. What are your plans?
Ken Thoreson “operationalizes” sales management systems and processes that pull revenue out of the doldrums into the fresh zone. During the past 13 years, our consulting, advisory, and platform services have illuminated, motivated, and rejuvenated the sales efforts for partners throughout North America.
His latest book is: Leading High Performance Sales Teams. Ken provides Keynotes, consulting services and products designed to improve business performance.