As Starbucks steps closer to possibly becoming a player in
the quick-service food market with McDonald’s recent announcement of its
all-day breakfast menu, all foodservice operations and even non-food companies
need to ask themselves every once in a while: “What else can I sell to my
This Starbucks move may be a shot across the bow, a wake-up call to everyone else about a practice that we like to call “stacking.” This positive course of action reminds us of similar steps taken by some of the most successful companies in just about every industry.
And the list goes on…
Today the Internet, online marketing and social media has allowed companies to have a continuous dialogue with new and existing clients, customers, and patients on what is new and exciting.
Through all of this companies have to keep striving to answer the question, “What else can I sell to my existing customers?” They like us, there is an element of trust, and what else can we provide for them to make the experience more fulfilling while providing additional sources of revenue?
Brian Buffini, the real estate training and coaching guru, instructs to his sales people to throw in the phrase “by the way…”
“By the way….would you be interested in our apple pie special today?”
“By the way….would you like to have your car detailed while it is here to be tuned up?”
“By the way….did you know that we now offer mortgage and insurance service?”
You can never assume that customers know all of what you offer. Add value to their experience. Add profits to your bottom line whenever possible.
At Francorp, in our work as franchise consultants, we always raise the question to companies that we work with about what else they can sell that can increase sales and profitability consequently increasing royalties to the company.
Here is a punch list of items to consider when looking at Stacking: