When it comes to selling broadcast services, there is one strategy that can increase sales faster than any other.
Giving your prospects options.
Not options such as buy this or that, but rather options that come in threes and provide steadily increasing value to your prospect.
This isn’t a new concept, but builds on what’s known in human psychology as the “Power of Three.”
There are two main reasons why the power of three is so powerful.
First, our cognitive brain seeks patterns, and three is the smallest number available that can establish a pattern. So customers tend to be drawn or attracted to three options versus a single option.
Additionally, the rhythmic satisfaction of a three-part structure (beginning, middle and end) sought by our brains ensures that three options are more appealing to a customer than just one.
But here is the most important consideration.
When you share three options with a potential customer, you transition them away from “do I buy from you or not” to “which option might best suit my needs?”
Since three options seems a no-brainer (pardon the pun), the question turns to what options are most likely to influence a customer to buy.
That is where being clear on how to best package your upsell and cross-sell options becomes important.
Incorporating the power of three suggests you need to provide three options that provide increasing value and positive outcomes for your prospects.
Presuming you are versed in your upsell and cross-sell options, your focus should be determining how to best package them to meet the specific needs of each customer.
You can review previous buying patterns of customers or simply ask existing customers (through a one-to-one discussion or a survey) what packages would make the most sense. By the way, if you do this through a survey, it’s a great way to generate new leads!
The key is, for every customer or prospective customer conversation, identify additional options you can share that in turn provide additional value and benefits to the customer.
These may come in the form of upsells, such as more radio spots or lengthier ads, or they may be a cross-sell, such as combining online marketing services with radio ads.
For example, if you are selling an advertising spot, what can you add as an upsell and/or cross-sell to create a package of three options for your customer to choose from?
If you are selling online marketing services to a prospective customer, how can you improve the value of the services and provide additional options that provide increased value for the customer?
My point is simple.
When you provide your customer with options, not only do you increase your chances of closing more sales, but you also increase the value of the sales you close.
How can you put the Power of Three into practice with your customers today?
