While often overlooked, down-selling is a valuable technique for retaining customers who might otherwise walk away. When a customer finds a product too expensive or not quite right for their needs, offering a lower-priced alternative can save the sale. This approach shows that you're more interested in meeting the customer's needs than in making the biggest sale possible, which can build trust and loyalty. For example, a software company might offer a simpler, less expensive version of their product to a customer who's hesitant about the full-featured option. Down-selling can be particularly effective in preventing customer churn and maintaining long-term relationships. It's about finding the right fit for the customer, even if it means a smaller immediate sale. In the long run, this customer-centric approach can lead to increased customer satisfaction and repeat business.
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