Sales Optimization: Upselling, Down-selling, and Cross-selling

The video tutorial explains the concepts of upselling, cross selling, and downselling, highlighting their importance in maximizing sales value. It discusses the fixed and variable costs associated with sales, emphasizing the role of customer acquisition costs. The tutorial provides examples of each sales technique and explores the psychological principles, such as commitment and consistency, and Weber's Law, that make these techniques effective. It also covers the impact of online sales dynamics, including tracking, automation, and big data, on the prevalence of these sales strategies.

What are some examples of upselling techniques?

How has technology impacted upselling and cross-selling strategies?

What is an order bump in the context of sales?

Why is it important to plan for upsells, cross-sells, and down-sells?