Thursday, January 20, 2011

How to Get More Revenue from Clients and Serve Them Better, Today

Want to make more money in your service business, starting today?

Do this: Offer an upsell.

Simply create a deluxe version of whatever you sell -- raise the price 20-50% and add a higher level of service. When you do, about 20% or more of your clients will choose the higher-price option.

How can you offer a higher level of service to justify a higher price?
  • Deliver faster -- offer "emergency" rates for same-day or priority service; ship FedEx Priority Overnight instead of U.S. Mail
  • Deliver more -- add 20-50% of whatever it is you deliver, like super-sizing a restaurant portion
  • Deliver better -- offer 2-3 Special Reports to help clients get even faster results with your service
I have never, ever, failed to see an upsell add more money to a bottom line. And, almost always, it's 20% of your clients who will choose the higher-price option.

The only real obstacle to this profit-building tactic is in your head: You probably think your business is "different" and your clients won't have any use for a deluxe version.

News Flash: You are not your clients.

And the surest way to under-serve your market and leave money on the table is to have contempt for a new marketing idea like this prior to investigating it for yourself.

Don't be contemptuous of new ideas. Try them. Starting with this one: Offer an upsell.

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