Next Selling: The Forgotten Revenue Generator

Apr 22, 2019

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,...

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UPSELLING AND CROSS-SELLING

Apr 22, 2019

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...

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Client says "I am not ready to commit"

Apr 22, 2019

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

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Biggest Sale You'll Ever Make

Apr 22, 2019

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

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Lower Your Goals

Apr 19, 2019

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Get Customers Cheap

Apr 08, 2019

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Courage to say 'No'

Feb 18, 2019

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POD People

Feb 07, 2019

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AI Feeds the World

Nov 07, 2018

As competition in the market increases from the number of competitors to the number of products being rushed to market, a challenge many large retailers face is knowing what to order, when to order and how much to order meanwhile being keenly aware of the penalty when a product isn’t available. This ordering dilemma is on full display in the grocery business where knowing what, when and how much can mean the difference between a profitable month or not.

Fresh food products can account for 30% to 40% of a retailer’s revenue.  Having too much can cost a company in terms of spoiled or expired items that have to be thrown away. Having too little may impact a retailer’s customer base whose loyalty to a store may run thin after a few futile trips to an empty refrigerator bin.  

Given the razor thin margins in this hyper-competitive environment, retailers are turning to Artificial Intelligence (AI), more...

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