Upselling
Verb
[uhp·sel·luhng]
Upselling is the act of persuading a customer who is already making a purchase to switch their lower tier choice for a more premium option.
Upselling is a common sales tactic in both B2C and B2B marketing. Upselling is similar to cross-selling, which is when a salesperson persuades a customer to add additional complementary products to their purchase.
In B2B SaaS, this might be a longer subscription, or a more premium package that offers additional features or add-ons. In partnerships, your ecosystem partners can upsell or cross-sell your SaaS product to their existing customers as an effective marketing technique. Upselling is particularly effective when two SaaS companies partner together to offer a more inclusive service package of their complementary products.
Example: Ecosystem partners can up the value of each customer by employing upselling and cross-selling tactics.
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The Ultimate Guide to Partnerships for Ecosystems in 2023
Noun
[saylz uh·nay·buhl·muhnt]
Sales enablement tools provide go-to-market teams with the high level strategy. tools and resources needed to effectively engage prospective customers and close deals to increase sales results.The goal of sales enablement is to increase sales by providing sales teams or partners with the education, training and strategy to sell a product through knowledge-based interactions.
Sales enablement differs from sales training because it is the strategic organization and implementation of resources (both technology and teams) to align on the common goal of increasing sales. Sales training is processes used to teach sales skills in order to close deals and is one part of the larger sales enablement strategy.
Example: Sales enablement helps align the technology and people within a company by providing them with the knowledge, resources and alignment to achieve sales growth.
Noun
[sayls fuh·nuhl]
A sales funnel is a marketing model that illustrates the journey of a consumer leading up to the point of purchase. It serves as a visual representation of the steps a consumer takes before buying something.
The sales funnel usually consists of a top, middle, and bottom, but may be broken down into as many as six stages. The top of the funnel represents the awareness stage in which a consumer becomes aware of the product or service. The middle of the funnel is the interest stage wherein consumers learn about the product or service and how it can help them. The bottom of the funnel represents the decision stage wherein a consumer is actively making the decision of whether or not to purchase.
Example: A low-touch sales funnel is a simplified buying journey where there are minimal steps from awareness to point of purchase.
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