Deep-selling: Optimise your sales strategies for maximum profit!
Deep-selling, a term perhaps less familiar than upselling and cross-selling, but no less powerful for that. What exactly does it entail? Deep-selling selling is all about selling more of the same product to one customer. Instead of selling just one unit, you aim for two, three, or even hundreds of units. And often this is accompanied by attractive discount offers. When customers buy more of the same product, the price per unit drops, a principle also known as tiered selling.
Let’s look at examples of deep-selling in different industries:
Example of deep-selling in the software industry: Imagine a software company selling a licence for their project management tool. Instead of selling just one licence, they offer a bundle where customers can buy multiple licences at a discounted price per licence. In this way, they encourage customers to purchase more licences at the same time, leading to higher revenue per sale.
Example of deep-selling in the retail sector: A clothing shop can deep-sell by offering bulk sales, such as “buy three shirts for the price of two”. By tempting customers to buy more items at once, they can benefit from attractive discounts while increasing revenue per transaction.
When is deep-selling interesting?
Deep-selling is especially interesting with customers who you know regularly need the same product. By responding to their need for more of the same product, you can boost sales without much extra effort. This makes deep-selling an efficient strategy to increase sales and maximise profits.
Cross-selling: broadening horizons
Cross-selling is a strategy that involves offering additional products or services that are relevant to the customer’s original purchase. The aim is to increase customer satisfaction while increasing the average order value. For example, by also offering a customer buying a smartphone accessories such as a case or a screen protector, a company can not only generate additional sales, but also improve the overall customer experience.
Up-selling: increasing value perception
Up-selling goes a step further by encouraging customers to upgrade to a more expensive product or a premium version of the product or service they were already planning to buy. This is achieved by highlighting the benefits and additional features of the premium offering, which can increase customer satisfaction or provide a better user experience. For example, a customer who has a basic subscription to a streaming service can be convinced to upgrade to a premium subscription with higher-quality streaming and exclusive content.
Conclusion
Deep-selling, cross-selling and up-selling are all powerful strategies that can help companies not only increase sales, but also build and retain valuable customer relationships. At VAH Consulting, we understand the importance of these strategies and help companies implement them effectively through high-quality training and consulting. Contact us today to find out how we can help your business flourish through deep-selling and other innovative strategies.
Source: VAH Consulting – Gauthier Van Assche
