It is a well-known fact
that it’s easier and less expensive to sell more products to existing customers
than to try to acquire new customers. One of the ways you can do this is to cross-sell. Cross-selling can be highly profitable because
it deepens the customer relationship. It also gives you a host of additional
products to upsell the customer over time.
Here are some tips
for best results.
1. Know
your customers.
There is no sense
trying to sell your customers products they already have or ancillary products
for those they do not. If you track sales history, tap into that. If you don’t,
let us help you use data gathering techniques to learn who your customers are,
what makes them tick, and what they do and do not already have.
2. Know
when they buy.
When are your
customers most likely to make a purchase? What time of year? Time of day? Stage
of the sales cycle? They will be most receptive during these times.
A study conducted
on the airline industry, for example, found that nearly two-thirds of customers
were most likely to purchase ancillary products at the time they booked a trip rather
than sometime afterwards (such as prior to check-in, during the check-in
process, or during their stay). This type of information can be very helpful to
travel agents, who can then put the most effort into marketing their ancillary
services upfront.
3. Know
where they buy.
Where are your
customers most likely to make a purchase? From you directly? From a reseller?
How about an online retailer? Do your marketing materials reflect their full
range of options? How about the way customers purchase? Do they want to
purchase in-store? Online? By mobile phone? Customers will be most receptive if
you find out their individual channel preferences, then use those preferences
to interact with them on their terms.
Cross-selling is an
important way that marketers to maximize their marketing budgets and reap the
best ROI. Why not let us help you design your next cross-selling campaign?
Please give us a call at 440-946-0606
Or visit our website here for more information.
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Please give us a call at 440-946-0606
Or visit our website here for more information.
Share On LinkedIn
