Up Selling is an important part of running a Food and Beverage Business. If your business doesn’t up sell you could end with having products expired before being sold which ultimately hurts cashflow. With that being said, to boost up sales your business needs to have the right strategy in place that makes it hard for customers to refuse.
Here are the best up selling strategies for B2B Food and Beverage Businesses.
1. Identify What Products Customers Want
The most important part of upselling is the products you choose to upsell. You can’t just choose any product and hope that customers will choose to buy it at a discounted rate. To have a successful up selling strategy you need to offer customers products that they want and desire.
Research what products customers are buying, look at your trends and see what types of up selling offers you can give customers. The more valuable your offer is, the harder it will be for customers to refuse your deal.
2. Offer Something Relatable to the Customers Original Purchase
A mistake that many businesses make when it comes to upselling is selling a product that is way out of the ordinary from the customers original purchase. For example, if a customer is buying a bulk pack of milk, don’t try to up sell them a pack of juice or flavored drinks.
You need to offer customers something relatable to the original purchase. The reason being is that customers are looking for products of that nature. Upselling products that are relatable to the customers original purchase will also make it much harder for customers to refuse. It is important that your business understands the customer and you are adapting your upselling strategy to meet their individual needs.
3. Offer a Discount
It’s no secret, the best way to increase your upselling is to offer products at a discount. Customers will likely agree to purchase additional options if they know they are going to make a saving. This is where it is really important that your business plans accurately.
Before your business begins upselling products at a discounted rate, it is important that you understand your margins and how low you can afford to go. There is no point selling products that result in your business making a loss. Get together with your accountant and come up with a strategy you can use where you can discount product prices when upselling and still make a good return.
4. Timing is Key
When it comes to upselling, timing is key. You need to pick your time wisely if you want customers to purchase additional products. If you ask too early customers may think you are trying to milk more money out of them and on the flip side if you ask too late customers may move on, so it is important you pick your times wisely.
For B2B businesses it has been found that the best time to up sell is towards the end of the transaction process. When a customer is about to finalise their original order, present them with some additional up selling options. This way you don’t risk having a customer leave before the first purchase and you increase the chances of receiving the upsell.
5. Use Digital Mediums
As the world continues to transition to online as their preferred method of ordering, using digital mediums is one of the best ways b2b food and beverage businesses can increase their up selling.
Using an Online Ordering Website, businesses can implement strategies that present customers with digital product suggestions that can be added to their cart at a discounted price. Businesses can even offer incentives such as free delivery for orders over a certain amount and even reduce prices for future orders if necessary.
The benefit of having an Online Ordering website is you can control what up selling you want to offer and how long you want to offer it for.
Upselling is vital in the Food and Beverage industry. To have a successful up selling strategy, businesses need to understand customer preferences and adapt accordingly. The 5 strategies mentioned above are a few great examples of how b2b Food and Beverage businesses can increase up selling in 2022.
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