Achieve More Profitability with Upselling and Cross-selling Strategies that Work
While some people may shirk at the word “upselling,” it’s simply a process to fulfill more of your customers’ needs while they are inside of your store. Successful upselling and cross-selling can triple the total purchases made in your location, giving you more ability to provide a bigger product selection to your customers and grow your business exponentially. Wouldn’t you like to double your profitability without significant capital expenditures?
Customers visiting a convenience store are typically in a hurry. Whether they are on their way home from work or stopping for gas between dropping off one child at soccer practice while running another to piano lessons, many people entering your doors look for a fast solution to their current problem. Promoting add-on products helps them quickly remember and fulfill other needs simultaneously–a win-win for you and the customer.
Be sure your upselling and cross-selling suggestions make sense.
We’ve all experienced the “would you like fries with that” response to every drive-through order at fast-food restaurants. Customers are turned off by canned selling phrases that don’t make sense with their purchasing behavior. Those buying a 2-liter of soda are likely not interested in your promotion of window cleaning fluid but are more likely to respond well to that B1G1 deal on chips. The best cross-selling programs suggest additional products that are within 15 to 18% of the customer’s original purchase total.
It’s essential to train your team members well to prioritize considering who the customer is and what they are purchasing to make a good suggestion about another product they might need.
Support Promotions with Visually Appealing Media
Many options are available to convenience store owners, from placing animated graphics within the fuel pump monitor system to colorful posters, window paintings, and counter signage. Your customers cannot take advantage of promotional pricing if they don’t know about it! Good advertising will capture attention and create an emotional reaction that encourages your customers to purchase either more of an item or a complimentary product.
Have sufficient inventory of “hot sellers.”
As your team identifies items that tend to sell very well as upsell or cross-sells, make sure you order ahead and have plenty of inventory on hand. Once employees become skilled at suggestive selling, they will likely focus on the top 3 to 5 items that receive positive reactions from customers. Keep these top sellers located near the check stand so customers can easily reach them at the point of sale.
Get guidance from marketing professionals at GP Energy.
Our team at GP Energy is focused on making our convenience store clients successful. We can review your current strategies, share best practices with you, investigate branded fuel promotion opportunities, and help you design and implement the right upselling program for your business. At the same time, we can discuss loyalty programs that will promote your products and encourage repeat business wherever your customers are. Contact us today to gear up for greater profitability and success!