Turn a 'No' into a 'Yes': Master the Art of Downselling

Discover How a Lower-Cost Offer Can Open Doors to Future Sales

We've all been there—crafting the perfect pitch, offering our best product, only to hear the dreaded 'No, thanks.' But what if that 'No' wasn't the end? That’s where downselling comes into the picture.

Downselling [offering an alternative, lower-cost product or service when a prospect declines the initial offer] - has become a valuable tool in a salesperson's toolbox. But how can you do it effectively, and what benefits does it bring? Let's discuss.

Why Downselling?

Downselling helps you turn a 'No' into an 'At least something.' Even if the customer doesn't buy your high-end product, they're still purchasing something. This brings in some return for your effort and opens the door for potential future sales. Moreover, if they have a positive experience with you, they are likely to buy higher-priced items in the future. 

Imagine you offer a premium consulting package at $5,000, but the client isn't ready to commit. By offering a $500 introductory course instead, you still make a sale, it gives you an opportunity for your customer to learn more about you and your services, and it sets the stage for future business.

Overcoming Downselling Pitfalls

Despite its advantages, downselling has its pitfalls. It can be perceived as annoying or desperate and may encourage customers to always say no, expecting a better offer, depending on your execution.

So how do you prevent these pitfalls? Create a smooth and valuable downselling experience. Understanding your customer's needs and respecting their budget is key. By genuinely listening to their concerns, you can offer a downsell that feels like a personalized solution rather than a desperate attempt to close a sale. 

Creating a Smooth Downselling Experience

To create a good experience for your potential customer, make the downselling process as pain-free as possible. Be considerate of your customer's time and respect their decisions. 

Secondly, to avoid encouraging bad buying behavior, ensure your downsell is significantly different from your original offer. It should justify the lower price and still be perceived as offering value to the customer. 

A simple way to understand that is to fully understand why your potential customer didn't buy your original offer. This information will help you design a downsell that specifically addresses their objections.

Four easy steps to consider:

1. Listen to the customer's objections. 

2. Offer a relevant, lower-cost alternative. 

3. Highlight the value of the downsell. 

4. Ensure the transition is seamless and respectful of their time.