Selling clients up—which results in higher commission—need not be a daunting prospect, particularly when advisors are armed with the proper mindset and strategies, say agents skilled in the art of the upsell.
For starters, advisors would be well served to throw their preconceived notions out the window when qualifying clients. “The biggest thing for me is to not assume a budget,” said Linda de Sosa, a Houston-based independent contractor with Travel Experts.
“I had a referral who wanted to go to Switzerland. I assumed a certain budget, but when I asked they gave me one much higher than my assumption.
“A couple of other times, I gulped when I saw a high price quote come across but forwarded it anyway and it was accepted with no issue. I think we look at our own budgets sometimes and prejudge.”
For Steve Ineson, owner of Harlan, Iowa-based Four Seasons Travel, an affiliate of TRAVELSAVERS, “the most important part of upselling clients is to vividly describe the experience during the qualifying process.”
“Once the client can envision and even feel that experience, it makes the sale so much easier. Many agents struggle with helping clients make that connection,” Ineson said. “One of the best ways for agents to succeed at this is to experience the top-level suite, the meet-and-greet transfer or the private yacht for themselves.”
He added, “At the point of sale, most customers want to feel like they are getting a good deal so price may be in the forefront of their minds.
“When these clients are in destination, they have long forgotten about the price they paid months ago. They will be immersed in the experience. This is where they create memories. This is what they will remember and share with family, friends and even complete strangers on social media.”
Chris Caulfield, owner of a CruiseOne franchise in Croton on Hudson, New York, suggested that advisors position the upsell as an enhancement to their vacation experience. “For a cruise, the client may want to only book and oceanview cabin, but explain the benefits of a balcony, private outdoor area to enjoy coffee as you come into port or relax in the evening with a drink and watch the sunset,” he said
“My advice that I can offer advisors on how to upsell their clients is to have a strategy in place that has options,” added Stephen Scott, a luxury advisor at Protravel based in Chicago. “When you are researching for your clients try and offer not only the best options for them but look to recommend options that have more than one upsell available.
“If one resort is just about sold out, but another has two or three room categories open then recommend that one first so you give yourself the ability to upsell. Every tree has branches with potential for more leaves. You should ensure that every quote has the potential to grow before you offer it to the client."
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