Upselling is the sales act of getting a buyer to buy a more enhanced version of what they’re currently ready to purchase.  If they’re at fast food place ready to order a burger, you should ask you if they want to make it a double.  If they’re buying a laptop computer you want to sell them a bigger screen size, more storage, more RAM, or faster processor.  Once a customer has made a commitment to buy the ‘basic’ version, the goal is to upsell the buyer on a better version.

Cross-Selling is the sales act of getting a buyer to buy other products (or services) that complements what they’re currently ready to purchase. If they’re buying a double burger, you’re going to suggest adding an order of fries and a soft drink (i.e., combo meals imply savings when compared to buying items individually). In the case of buying a computer, you may want to suggest that they add a computer bag, screen privacy filter,...

Imagine feeding known data into a black box and then analyzing the output. When you didn’t get what you wanted, you simply adjusted a few knobs on the box and fed it a different data set and monitored the output again. You would repeat this process of adjusting the knobs on the box until the black box gave you the output you expected. This is what is called ‘supervised learning’ in the world of Machine Learning (ML) a subset of Artificial Intelligence (AI). 

Once the box did give the expected outputs, it is considered ‘trained’. This finely tuned black box can now be used to predict the output of other data sets.

In sales, imagine feeding a similar black box information on past customer purchases. After a few iterations and fine tuning of the knobs, the black box would be able to ‘predict’ who is more likely to buy (i.e., customer personas) and what are they most likely to buy (i.e., upsell or...

What to say and do when a Client says, I'm Not Ready to Commit in this week's sales influence podcast with Victor Antonio.
Read more at https://salesinfluence.libsyn.com/#gjaLlpcTUUeF7Qxj.99

What is the biggest sale you'll ever make?  Find out in this episode of the Sales Influence Podcast with Victor Antonio.