Back in the 1970s, a nationwide chain faced stagnating revenue and profits. Their marketing team needed help identifying the next big opportunity. After extensive research, they made a groundbreaking discovery: more than half of their customers only bought their core product, nothing else. To break this pattern, they initiated a simple test.
Instead of allowing customers to make their purchases and leave, the salesperson would pose one straightforward question. The result was astonishing: half of their customers said YES. This single question has since generated billions of dollars.
The McDonald’s “Would You Like Fries with That” Phenomenon
The famous question, "Would You Like Fries with That," is a testament to the power of upselling and cross-selling, which is one of the ways to grow your revenue and gross margins.
Unfortunately, many furniture and mattress retailers primarily concentrate on advertising, a challenging and expensive strategy. The reality is that enhancing your customer experience and increasing profits can be achieved with minimal effort. Here are four ways to do so:
- Focus On Customer Experience: Maximizing the customer experience by providing personalized recommendations and ensuring that customers know the full range of products and services available.
- Suggest Complementary Products: Asking customers if they would like a new pillow with their purchase or allowing them to test an adjustable base can lead to additional sales.
- Remember To Ask: Sometimes, we forget or hesitate to ask for add-on sales. However, failing to do so means missed opportunities and lost revenue.
- A Framework for Growth: While your journey might lead to less than billions of dollars in profit like McDonald's, implementing these principles can yield more significant returns than you imagine.
To explore the untapped potential in your business and discover how to leverage these timeless principles, download our FREE Business Optimization Assessment. This tool offers insights into maximizing your business's growth and profitability.
Whether you choose to use this tool or not, remember that the lessons from other industries can be invaluable. By implementing these principles and focusing on customer experience, you can set your business on a path to greater success. Take the chance to unlock your business's full potential today.
