Down selling is offering a prospect an alternative product or service at a lower price when they decline your original offer.  The goal is to turn the prospect into a client, so you not only realize some short-term financial benefit, but you gain the opportunity to do business with them again in the future.

For example, local health clubs always try to sell new members a full one-year membership. If that fails, they will  try to down sell them by offering a 90-day “health makeover” membership. If that fails, they may go to a 30-day or possibly  a one-week “trial” membership. They know if they can just get them to buy something the odds of them staying with them long term goes up exponentially.

What’s your current price point for what you currently sell? Think you could come up with an alternative for half that price? How many of those would you conservatively estimate you could sell each week? Now multiply your reduced-price times your number of weekly sales, then multiply that number times 52 weeks to reveal your annual increase. 

And that’s just one down sell. How many additional down-sell opportunities would you conservatively estimate you could  easily develop? 

We recently found a business owner $65,000 in additional annual revenue through targeted down selling, and that  additional revenue continues to grow year after year.