“Do you want fries with that?” and “Do you want to go large for just 60p?”
The cross-sell and the up-sell.
These two questions earn McDonalds billions in extra sales each year – all after the sale has already been made.
How can you use both of these techniques in your professional practice?
What do you cross-sell or up-sell? What could you cross-sell or up-sell? What would it be worth to your firm?
Do you do it with every client? How can you get your people to do it as religiously as the minimum wage kid over the counter in McDonalds?
You’re not alone, Westminster has also forgotten to upsell after the sale has been made.
This is why you’re not hearing about what the oil price reality would have done to the finances of a newly independent Scotland and what effect it would have had on its people.
“Next to victory, the act of pursuit is most important in war.”
Carl von Clausewitz
Good point – upselling and cross-selling can increase your profit by so much, as you mentioned in the case of McDonalds.
totally agree that cross selling i.e. working with other professional advisers will enhance your profile and offer your clients a better service proposition but beware it takes time to find the right partners and put into play the right process for making this happen effectively.
Hi Stephen
It made me think, a minimum wage McDonald’s employee never would forget to up-sell !
I struggle to get what are highly professional, educated, and well paid advisers to up-sell or cross sell.
It’s been the same for me for 40 years.
Good thinking and so true. My advisers often forget that the client doesn’t always know what they want (or need) and proposing a few options might just turn on a light.