Increase Your Sales and Profits
Every once in a while we feature a specific product or service and encourage you to use it as a cross-selling opportunity. This time we’ll talk about the advantages of cross-selling itself.
- Time. We all know that selling to an existing customer is significantly easier than finding and opening a new client. Measured in the time invested alone, making another sale is both easier and more profitable than making a new one.
- Knowledge. Not even your best customers know everything that you can do that will benefit them. For example, I make a point of mentioning our special dealer services like the remote warehouse and CAD services programs about once a year in these newsletters. This happens because in conversation with even some of our best customers, it just hasn’t registered because they didn’t need or want it.
- The Inside Track. You’ve already done the work to develop the relationship so you’re already there. Using that knowledge to identify additional business makes you money and gets you even further inside for even more opportunities in the future.
Now that we’ve discussed the advantages, how do you make it happen?
- Be Selective. Not every customer is a good candidate for cross-selling. If they’re constantly beating you up on price or just require more support and effort than the money they bring in, exclude them from your efforts.
- Research. Understanding the customer’s pain points is a great way to find an opportunity.
- Sell by Walking Around. When you’re in the facility, keep your eyes open. Damaged uprights? A great opportunity to sell column protection, repair and/or replacement or even forklift training if that’s in your wheelhouse.
- Reach Out. Follow up on the last sale you made. Is everything perfect or is there an opportunity to tweak things? Or just ask a question: How much do you know about everything we provide?
Procurement consolidation is becoming more popular as many companies look to simplify their sourcing across the board. If they don’t know you offer what they want, they’ll find it somewhere else.
To follow my own advice, I want to remind you that DAK’s dealer program can supply far more than just simple pallet rack to you and your customers, including the CAD design services I mentioned above.
Have something you need for a project? Give us a call at 630-516-1115 or send an email to DealerSales@dakequipment.com. After 20 years of serving our dealer community we almost certainly have any resource you might need.