Market mastery: How to double your ticket size

HomeColumnsMarket mastery: How to double your ticket size

September 12/19, 2016: Volume 31, Number 7

By Jim Augustus Armstrong

Dealers are finding it more difficult and expensive to get new customers through advertising. Which is why if you want to maximize your success in the 21st century, it’s critical that you maximize the dollars you generate from every sale to maximize your advertising ROI. However, my informal polling of dealers who attend my live seminars and webinars has shown that most don’t train their salespeople to look for ways to increase the size of their tickets. This is a gigantic missed opportunity. Let’s look at some easy ways you can increase your average ticket size in a way that provides world-class service to your customers.

If you want to create upsell opportunities, it’s vital that you establish trust. So demonstrate that you want what’s best for your customer by taking the time to sit down and ask her questions. Testimonials and positive online reviews are another fast way to create trust.

During a recent webinar, a number of dealers told me up to 80% of their flooring sales are part of a larger remodel or design project. So during your consultation, find out what else she’s planning to have done to her home. Let’s say she’s having window treatments installed, painting done and cabinets installed. And let’s assume you provide window treatments. You can now give her a quote for windows and refer her to a high-quality painting and cabinet contractor with whom you have an established referral relationship. By adding windows to your quote, you can easily double your ticket size. By referring the paint and cabinet contractor, they will likely reciprocate.

While you’re in the home, get permission to measure and inspect all the areas, even the rooms where she’s not replacing the floors. Let her know you’re doing this for two reasons: 1) so you can keep the measurements on file for when she’s ready to replace those areas, and 2) so you can give her professional recommendations on getting the longest life out of all her floors, even areas she’s not replacing. This is a big “wow” factor, and it’s something your competitors are unlikely to do.

I recommend arming your salespeople with a checklist of every possible upsell and referral opportunity. This should include cabinets, window treatments, area rugs, paint, etc. As your salesperson measures and inspects each room, he should use the checklist to look for two things: 1) products you provide, and 2) products your referral partners provide.

When it’s time to give the quote, use package pricing and give her three options: good, better, best. Don’t pressure her into the more expensive package, just make it available. Most customers will go with the middle option, but many will opt for the premium package. Another upsell.

Next, using your list of items from the whole house inspection, include quotes on a few other things she may need. For example, if she’s having wood installed in her living room, include a quote for an area rug.

By training your sales team to look for upsell opportunities on every measure, you can substantially increase your average ticket size and sometimes double or even triple your revenue on individual jobs while at the same time create goodwill with your referral partners. You can achieve all this without spending another dime in advertising.

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