Recently, I did a ton of traveling for business, and the theme “Size Matters" kept hitting me in the face, wherever I went. The verbal slapping began something like this. . .
At the airport car rental booth, “Mr. Raito, would you like to upgrade your mid size rental to a ‘full size'?" Was my initial choice inadequate in some way?
Grabbing a quick, unhealthy lunch at McDonalds, “Would you like to super size your drink and fries?" Did the teenage cashier think I was too thin and needed a little extra help to pack on some extra weight?
Finally, checking into the hotel, " Mr. Raito, would you like to upgrade your room to a king size bed, with free Internet and complimentary breakfast buffet?" At 5'11", 175lbs, do I really look like I need a king size bed?
Size apparently does matter when it comes to the classic ‘UP SELL’ from almost every company we deal with.
Do we ever really need the larger than life portion of food, the king size bed so you can sleep sideways in comfort or even the gas guzzling car that could double for a tank? Odds are slim to none, yet people agree (sometimes even me) to the “Size Does Matter Up Sell" every day. Otherwise, companies wouldn't be wasting their precious time or energy.
Companies large and small ‘Up Sell’ because first and foremost ‘it works', and secondly it doesn't cost them a dime to make an attempt to increase their profit from a sale they have already made. If you say no, oh well there goes three seconds and some oxygen from speaking. If you agree. . . . they just guaranteed themselves more money because they asked for the Up Sell.
If You Don't Ask You Don't Get!
I bet you can think of a few things you are doing right now in your profession or business that you could use this technique to try and ‘get a little’ or ‘ squeeze a little more’. Why wouldn't you? Example, you own a video store and you rent each new release video for $3.99. When the customer comes up to the counter with only one movie, why not indicate that for only .99 cents more the person could rent and additional regular video, which normally is $1.99. The sale was already made, so there was nothing to lose. Not a bad way too bring in 25% more money, just for asking a simple question.
So here is your ‘Size Matters" Task to complete. Take note as a consumer from now on when, where and how companies are trying to ‘Up Sell’ you on a product or service? You may just be surprised. Do more than just take note, why not find your own creative way to use the ‘Up Sell Technique’ to positively impact your business or career?
by Lee Raito, CFP, FMA
Business and financial expert Lee Raito is a Certified Financial Planner and Financial Management Advisor. Lee has teamed up with Internet marketing expert Sam Heyer to provide you with information that will take your business success to a place it has definetly never been before. Their controversial book, Business Sexcess, is the much talked about book that will transform how you look at business. http://www.BusinessSexcess.com