Boosting profit is part and parcel of all businesses.
But as a MICE consultant, you already have your hands full coordinating cutting-edge conventions and events that go off without a hitch, but while you’re at it you need to make sure you’re turning a healthy profit by upselling extra benefits to your clients. Layers of detail and layers of pleasure can essentially transform an ordinary function into an unforgettable occasion. After all, events are meant to move people.
In an article considering the sales success of the McDonald’s franchise, the principle of upselling is defined as offering customers ‘the opportunity to purchase additional items to benefit, enhance, supplement or otherwise improve upon their current purchase or experience.’
We consider some effective upselling techniques:
It’s essential to show your clients how an item or add-on will vitally benefit their event. A conference alone can be a stimulating and informative place but the experience of the conference delegates will be radically influenced by everything surrounding the conference itself – from the standard of the food and accommodation to the leisure activities at their disposal. Emphasise the value of a positive holistic experience.
Perfect your timing (the effect of ‘while you’re buying…’)
The abovementioned article goes on to explain that ‘strategic entrepreneurs understand that customers are far more likely to increase their purchase while already in “buying mode… The simple phrase heard at just about every McDonald’s—“Would you like fries with that?”—is an example of an upsell that has sold millions more fries each year.”
When you’re offering extras to your clients be sure to use upselling techniques at the appropriate time. Suggest added offerings once the decision to buy has been made, while the buyer is in the mode of imagining the prospects of the event.
Offer discounts and perceived freebies
Top venues in the industry such as certain hotels in Costa Blanca offer discounts or member benefits to corporates which can be pitched to your client as an added advantage to certain purchases. These benefits might take the form of free use of gym facilities or discounts at a world-class spa.
Display irresistible treats in the right place
We know the supermarket ploy, you’re walking towards the cashier with your basket of spinach, eggs and celery, and there lining the aisle sit rows and rows of glossy magazines, Lindt chocolate and your favourite spearmint gum.
The temptation is too enticing to resist so you throw in a couple of treats to ease the day’s load. Similarly, as a MICE consultant you need to offer well-positioned perks that are too good to resist, so you can enhance your clients experience as well your company’s bottom line.
Build an effective sales pitch
Timing, observation, restraint and resilience are key components of an effective upselling techniques strategy.
- Timing: Remember to wait until your client has made the decision to buy before offering additional possibilities.
- Observation: Find out what your customer wants or would want if they were made aware of it. Once you know what they want, offer it.
- Restraint: Identify whether or not an individual customer could be open to purchasing additional products. If not, you’ll do nothing but irritate them by trying to upsell. Furthermore, when upselling, make budget appropriate suggestions. The most commonly-cited rule suggests that additional products shouldn’t increase the total of the originally purchased package by more than 25%.
- Resilience: As long as you’re adding value to your customers experience it’s worth pursuing the sale. Clients will see straight through sales that are sneakily pitched in order to get rid of unwanted stock or merely to push profit. If your intention is ultimately to enhance a client’s experience, your client is likely to identify that and so trust your advice.
If you’re looking for corporate convention and event spaces with no shortage of enticing additional benefits to make the most of your upselling techniques, get in touch with AR-hotels, their portfolio of world-class hotels in Costa Blanca has received innumerable nods of approval.