EF summer 08.indd - National Association of Professional Allstate ...

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usiness Would You Like Fries With That BY JOHN BOE While you may not have recognized it, the last time you ordered from a fast food restaurant or went to the post office, there is a good chance you experienced some form of cross-selling or up-selling. Crossselling and up-selling are well-established and highly effective marketing practices utilized by a wide variety of industries. What is cross-selling It is a proactive, ongoing sales process designed to provide your customers with a full spectrum of your company's products and services. The good news is, cross-selling is one of the most profitable and least risky endeavors a sales rep can undertake. My first exposure to cross-selling was as a teenager in high school working part-time at McDonalds during summer vacation. Looking back on my brief tenure selling hamburgers, I can still hear my manager's daily refrain; be polite, keep the counter clean and always, always ask if they would like fries with their meal. A couple of years later while attending college, I took a part-time job selling shoes at the mall. I was paid an hourly wage to sell the shoes but I received a commission whenever I cross-sold any accessory items such as shoe polish, socks or purses. This was my first taste of commission and, as a starving college student, I took to cross-selling and upselling like a duck to water. Some short-sighted salespeople might suggest that customers are irritated by cross-selling and perceive it as an aggressive sales technique. Interestingly enough, consumer research indicates that the reverse is true. The majority of consumers surveyed actually preferred a full range of products and services and appreciate the convenience that is provided through a comprehensive cross-selling approach. Top producing salespeople understand the power of cross-selling and recognize it as a critical component for promoting both customer retention and revenue growth. Not surprisingly, two of the key elements that make cross-selling and upselling work are trust and convenience. Your customers already possess a degree of trust in your company and this can be converted into additional sales that are not directly related to their existing products. The best place to introduce your customer to the concept of cross-selling is during your initial needs analysis meeting. Unfortunately, many salespeople fail to take the time to conduct a thorough needs analysis and as a result, do not uncover potential products and services that would be of benefit to their customer. Ask questions and take good notes. Effective cross-selling is all about guided self-discovery. Through a series of thought provoking, open-ended questions, successful salespeople assist their customers to uncover potential needs. During the needs analysis interview, I highly recommend the use of a checklist that incorporates all of your company's products and services. Relying on your memory alone is a poor business decision; so take the time to jot down key information. Developing a systematic approach to cross-selling and up-selling brings in additional revenue with relatively low expense and effort. As you prepare for your next client appointment, I challenge you to look for cross-selling and up-selling opportunities that you can incorporate into your presentation. Sales reps who fail to implement an effective cross-selling program actually do a disservice to their customers and leave the backdoor open to their competitors! John Boe presents a wide variety of motivational and sales-oriented keynotes and seminar programs for sales meetings and conventions. John is a nationally recognized sales trainer and business motivational speaker. To learn more, visit www.johnboe. com or call 877 725-3750. Free Newsletter available on Website. 24 — Exclusivefocus Summer 2008
Expansion is tough. Cash flow is easy. Put your TPP to work for you! 866 866 Oak Street is the Bridge. Fast. Easy. Done. »Loans and lines of credit from $25 thousand to $3.5 million »Loans funded in as little as two weeks »Buy an agency or a book of business »Upgrade your technology Need cash to grow your business and pay down debt Don’t let you TPP just sit there, put it to work for you now and really watch your business grow! The cash you’re looking for is literally at your fingertips. It’s in your business. A loan from Oak Street Funding unlocks that asset allowing you to grow today. Why borrow against your personal assets when using your TPP is the answer Start growing today. Contact me for your FREE No-Obligation Consultation. » Michael Langan 317-428-3826 » michael.langan@oakstreetfunding.com Summer »Target 2008 new markets Exclusivefocus — 25
Page 1 and 2: Exclusivefocus Summer 2008 An Offic
Page 3 and 4: We finance Allstate books of busine
Page 6 and 7: president’s letter Farewell Messa
Page 8 and 9: usiness opportunities to increase a
Page 10 and 11: letters to NAPAA I wish to terminat
Page 12 and 13: letters to NAPAA ker friends are la
Page 14 and 15: letters to NAPAA I appreciate you
Page 16 and 17: 16 — Exclusivefocus Summer 2008
Page 18 and 19: the thief becomes your health infor
Page 20 and 21: agent issues The Kafka Interview IN
Page 22 and 23: [ “I think that Canada is the tes
Page 26 and 27: feature There Must be a Better Way.
Page 28 and 29: elated bonus. His first step is to
Page 30 and 31: company is “unwilling or unable
Page 32 and 33: Is a sea of paperwork slowing you d
Page 34 and 35: membership musings Standing By You
Page 36 and 37: whether spending this amount of mon
Page 38 and 39: AAs most of you know who have been
Page 40 and 41: technology What To Expect When It
Page 42 and 43: integrated or separate video card,
Page 44 and 45: onus from Allstate, such as the rat
Page 46 and 47: technology Allstate Agents Have a C
Page 48 and 49: June 10, 2008 Ladies and Gentlemen
Page 50 and 51: on my behalf. Allstate did offer to
Page 52 and 53: and better refine your analysis. If
Page 54 and 55: staffing Is Your Staff “Engaged
Page 56 and 57: usiness tips Stronger Documentation
Page 58 and 59: organizing your business Forming an
Page 60 and 61: the NAPAA market place Agencies for
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