How to use cross-selling techniques to increase your sales. This post will give you the definition of cross-selling, example of cross-selling and how to use cross-selling technique.
Cross-selling is the action or practice of selling an additional product or service to an existing customer. In practice, businesses define cross-selling in many different ways. Elements that might influence the definition might include the size of the business, the industry sector it operates within and the financial motivations of those required to define the term. (Wikipedia)
Examples of Cross-selling
Some example of how to use cross-selling to in
- A sales representative at an electronics retailer suggests that the customer purchasing a digital camera also buy a memory card.
- The cashier at a restaurant asks a customer, “Would you like fries with that?”
- The check-out form at an e-commerce site prompts the customer to add a popular related product or a required accessory not included in the product being purchased.
How to use Cross-selling?
How to use cross-selling to increase your revenue. This is some point you need to know on how to use cross-selling
Low cost: The costs incurred by any organization for cross-selling is much less than that of a new customer acquisition.
Instead of buying a $1000 iPhone and a $500 beat headphone. Get both of it for only $1400. This is an example of the low-cost option work.
Better customer retention: customers stay because they’ve seen value out of products. Cross-sell allows you to increase that value by offering additional products/services that complement their current product/service.
“This bread will be tasted better with this source”
“This car will have a longer life if you use this petroleum jelly”
Immediate sales – Sales from cross-sell opportunities generally happen at the end of the sales cycle. If you want to use the cross-sell technique, use it when customers are about to pay.
If you have an eCommerce website, Add to cart button and Check out page will be a good choice to place cross-selling.