I was reading through some old magazines and came across an article on selling. What sort of tactics do companies employ to multiply their profits? There are several universal tactics but generally, they fall under these broad categories:
- Cross-selling their other products at the point when a customer buys something from them;
- Up-selling by offering the customer a bigger portion of their product at a fractional increase of the cost;
- Pre-selling through profiling even before selling anything to the customer;
- Packaged selling by bundling and offering several products together;
- Substitution selling by giving the customer an alternative choice to the original product;
- Automatic renewal service until the customer cancels the renewal;
- Pre-emptive selling by offering the customer volume discounts at regular intervals; and
- Re-selling through reminding the customer to re-order a product.