By Monte Mccarty
About once a week I grab my laptop and head to a caf to work, brainstorm, and map out business plans. I usually enjoy a latt, cappuccino, or green tea while I work and I’ve found the change of scenery ignites my creativity and jump starts my productivity. For years I’ve gone to the same caf on Yale Avenue for my weekly ritual, but last week I stopped into a Barnes & Noble Cafe. I approached the counter to purchase a latt and the sales person immediately responded with an “up selling” offer. She asked, “Can I get you a slice of cheesecake to go with your Caramel Macchiato?”
I wasn’t even thinking about dessert, yet I somehow let the unexpected query: “Can I get you a slice of cheesecake to go with your Caramel Macchiato?” entice me into accepting a rich slice of cheesecake.
The lady at the Barnes & Noble Caf flawlessly executed the “up-selling” technique and without any hesitation I accepted. Not once in the three years of my attending my usual caf has anyone tried to upsell me. As I enjoyed each delectable bite of the cheesecake I wondered, “What would it mean to Barnes & Noble’s bottom line if every salesperson in the Caf attempted to upsell beverage seekers? What would it mean to the bottom line if just 2% of customers everyday were upsold?” What would it mean to your bottom line if every one of your employees flawlessly upsold your customers?
In my experience both as a consumer and as a Business Growth Strategist, I have discovered that many businesses avoid up-selling because they’re concerned that the customer may feel irritated or pressured, and often customer service professionals are reluctant to upsell because they’re uncomfortable with a “selling” role. But here’s the thing: If you don’t try to upell you are 1) Leaving money on the table and 2) Withholding value-added services from your customers. When done right, upselling offers translate into sales 5-20% of the time. And research shows that most customers appreciate up-selling when they are offered additional benefits that are relevant to their needs. Read on to get 5 tips to help you confidently and successfully upservice your customers.
Think of upserving as “Up-Servicing” - When done right, upselling is simply offering a “suggestion” to an already receptive buyer to enhance the value of her service. This is exactly what I experienced at Barnes & Noble Cafe. I was already a receptive buyer and the cheesecake most definitely enhance the value of my experience. When viewed as truly upservicing as opposed to upselling, selling doesn’t feel so overwhelming.
Make sure your upserving offer is always relevant to the customer’s needs. Offering a buyer of a latt a book on Feng Shui tips may not be relevant and is likely to be rejection waiting to happen. But offering dessert truly offers to enhance the receptive customer’s experience.
Be more interested in being of service than in getting a commission. Always focus on offering products or services that are relevant to the customer’s needs and will arguably enhance the customer’s experience. If your sole objective is to get a commission, customers will smell you a mile away. And trust me, they will not buy.
Recognize that upservicing increases customer satisfaction. Surveys and research has found that offering products your customers might find useful is a proactive effort on your part that conclusively leads to increased satisfaction and loyalty.
Think of “up-servicing” as a proactive service initiative. When you add upservicing to your skill repertoire, you will increase customers satisfaction and grow your bottom line.
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Profits to Make Millions in the Forex Market
By Bruce Shaw
Here we will reveal a system for currency trading profits, which has a logic that is so simple, ANY trader will see why it works, and why it will continue to work, as well as how they could be making big currency trading profits too!
If you use this system in currency trading, you will have the potential to catch EVERY major currency trend.
We have all heard this investment wisdom: “To make money buy low sell high”
However there is a better way to make big currency trading profits and the wisdom here is: “Buy high and sell higher”
This will become clear with some explanation:
Ignore Traditional Investment Wisdom if you want the Big Profits!
If you want to “buy low and sell high” you have to guess where a market is going to bottom and this is not easy. You are trying to PREDICT where a trend might start - this very often means the market goes lower and you lose.
Investors and traders are taught to “buy low and sell high” but when a huge move starts they watch and wait for the pullback - it never comes, the market simply goes higher, and they never get in.
The problem with this traditional investment wisdom is you end up trying to pick market bottoms, and try to get in on pullbacks, but when a market trades higher quickly, you miss the move.
This sees traders lose on trying to pick bottoms - they don’t make the profits they could have made from the big moves.
Breakout Systems are the Best for Catching the Big Profits
A breakout system does not try to predict a market bottom - it waits for CONFIRMATION.
It will wait for a market to break above a recent high, (resistance) or break below a market low, (support) if these levels are broken, a move will start, and astute traders ONLY trade the break - they don’t try to predict.
You can make big profits on these breaks - look at any currency you like: Japanese yen, Swiss Franc, British Pound, etc. and you will see huge moves from breakouts.
The Best Risk Reward
The breakout point provides the best risk to reward, to enter the trade.
Why? Lets take a hypothetical example:
The British Pound has traded up and tested resistance at 1.85 several times, and is currently trading at 1.70. The market rapidly trades up to 1.85, and immediately breaks to the upside, and quickly goes to 1.95
What has Actually Happened?
When the critical 1.85 area gives way, traders with stops on their short positions, start to cover, and new traders enter the long side of the trade. This causes a huge surge in price - as the area of resistance is so important.
If you are positioned to get in as the breakout occurs, your risk is low, and reward high.
Many traders don’t want to do this - they feel they are “chasing” the move, and want a pullback - it never comes, and they miss the big profits.
Keep in mind the old saying:
“A trend in motion is more likely to continue than reverse”
Check Your Charts
Most of the big currency moves in history have started with breakouts on the chart, then a huge quick move to the upside - with no PULLBACK
Big Currency Trading Profits can be yours!
Here we have looked at the concept, and why it’s successful, and you can see how uncomfortable it is to do - and that’s exactly the reason it’s so profitable!
Breakout Trading is Simple
All you need to use to trade breakouts, are traditional charts - and have some confirmation signals, to help you filter “true” from “false” breakouts - such indicators as RSI and Bollinger bands, are examples.
Astute traders are making huge profits every day from this simple method and you can too.
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The Changing Face of Customer Service
By Monte Mccarty
We all know that good customer service is paramount to growing a business and increasing profitability. What many managers are failing to realize, however, is that rapid changes in technology have lead to equally rapid changes in the delivery of quality customer service.
In addition to the basics we all have heard time and again, there are five new areas of customer service that should be addressed to keep customers happy.
What do customers say?
1) Preserve me from auto-attendant hell! Customers are becoming increasingly annoyed and frustrated with having to sift through a multitude of options and press numerous buttons - only to be told that the desired service is only available through the company’s website. Worse is when the auto-attendant uses voice recognition - but doesn’t ‘recognize’ your voice.
It’s understandable that companies want to reduce costs by using attendants and, there’s no question that these are valuable tools. Yet, people want to connect with human beings; they don’t want to listen to a long list of prompts - especially not if they are having a problem (and let’s face it, that’s what usually triggers the call in the first place). To keep customers happy, here are few simple tips:
Always make it easy for customers to reach a human being.
Give people the option of voice prompt or touch prompt.
If you do use an auto-attendant, limit the number of menus to two rounds of choices before the customer reaches a human being.
If you have asked the customer to key in account information, transfer the profile along with the call.
If the call has been answered by a company rep, and needs to transfer the call to another department, do not put the customer back into a long queue. Instead, let your customer service rep be able to jump the front of the line, and get them to stay on the call with the client until the next person has picked up. Once this happens, the first rep should introduce the caller and give rep #2 a prcis of the situation so the customer doesn’t feel like he or she is having to start all over again.
2) Don’t make me wait more than a couple of minutes in a phone queue. Many companies are making clients wait 15 minutes or more in a phone queue. Anything more than 2-3 minutes is considered unacceptable by more than 80% of customers surveyed.
3) Don’t make me quote chapter and verse about my account to get simple information. In these days of increased white collar crime, it is reasonable, and sensible, for companies to protect their customers by ascertaining that they are dealing with the correct person before discussing an account. However, 3 questions should be the limit. Beyond that, it takes up too much time (costing the company money) and only frustrates your client.
4) Give me more flexibility in how I contact you. As communication options increase, so should the options that customers have for contacting your company. Offer clients the choice of scheduling appointments by going on-line or using their PDA to access a special appointment site. Let customers send a text message or e-mail to request that customer service call them within the hour. Enable customers to access their accounts on-line - and give them the ability to change billing and service options while there. Giving customers (who want it) the ability to interact more with their accounts will make them happier - and has the added benefit of saving companies money and employee time.
5) Don’t tell me how I have to deal with you. Right now there are multiple generations of customers - which means multiple ways in which people want to interact with companies. Don’t force everyone into the same mold, or you risk alienating at least one of the generational groups. It makes no sense to tell someone who is older and computer-phobic that they can only get their bills on-line (and yes, a large percentage of people 60 years and older does not trust on-line “banking” and “account management” in any form)… just as it could cost you a customer if you were to tell a Gen Xer that there is no on-line access to their accounts. More than ever it’s important to know how your customers want to be treated - and do deal with them their way.
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