I was at a Mediterranean restaurant the other day in Downtown Boston with my brother. Everything on the menu was under $8. My brother commented, “If there were just one ‘deluxe’ platter on the menu that cost $12, I would get it.”
That comment got me thinking. He’s right. If that restaurant wanted to increase revenues without doing anything drastic, they could at least offer one ‘deluxe’ option for those folks that simply love to buy the deluxe. This one option would both increase revenues and dramatically increase their bottom line.
There is no faster way to increase your sales volume than to begin turning smaller sales into larger sales. If you wanted to increase revenues at your organization by 10%, you could go out and find 10% more prospects or you could just begin increasing the average sale size by 10%. This is not only the easier strategy, but it is also the more profitable strategy. Here are two insanely easy tips to making larger sales:
- Pile on Value: So often, sales people are fighting to have the lowest price among the competition, yet that strategy will only appeal to a particular segment of the market. There are many prospects out there that will gladly pay more if you are providing more value. What else could you bundle into your product or service that would allow you to increase your average sale?
- Have a Deluxe Platter: When proposing solutions to a prospect, most sales people offer one recommended solution. This is leaving money on the table. You should be offering at least two, preferably three options to prospects, with one of the options being the deluxe option. Many prospects will not choose the deluxe option, but some will. Those that do choose that deluxe option are getting more value and are happy to invest more.
By implementing these two strategies into selling, you will begin to increase your average sale size. Done over the course of a quarter or year, you will have a massive impact on your sales numbers.
How do you increase your sale size? Please share below.
Written by Marc Wayshak, author of the book Game Plan Selling, and a sales keynote speaker.