Jeremy Tauri: Are clients getting all you offer?

Jeremy Tauri.

Are you turning money away?

Lots of businesspeople look at their books and think there's not enough money coming through the accounts. But at the same time, they might have lots of customers through the door or client bookings.

The key is to get maximum money from every client you deal with.

I'm not talking about putting up your prices — although sometimes that's something worth considering. Are you selling every client or customer everything that they might want?

Upselling has a bad name. You might think of McDonald's staff asking if you want a large drink and fries with your order.

But done well, upselling is a win-win — you get more value from your customer in terms of dollars spent with your business, and the customer gets a better experience because they have more of their needs catered for.

Ensure your staff are helping customers to understand what they need. Ensure you clearly communicate the cost of the extras.

When people come into your business, they probably have an idea of what they want, and ask for that. They might not even realise what else is available, so simply asking something like "is there anything else you need" won't yield results.

Think instead about what you can offer in a tailored way to each customer. If you're in a hospitality business, can you point out complementary products? The right wine for a meal, today's special dessert or an off-the-menu entrée?

Hairdressers are often good at selling a treatment with a cut and colour — if you explain why it's the right thing for that customer's hair type, they're more likely to jump at it. Car dealers can upsell by offering a tow bar to someone who mentions they use their ute to go fishing.

Run through some scenarios with your staff and make sure that they are completely comfortable with everything you offer so that they can easily reach for the knowledge to make an informed recommendation. Sometimes this might mean cutting down the list of things on your menu to make it more accessible for everyone.

Jeremy Tauri is an associate at Plus Chartered Accountants.