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It’s always challenging to find new clients and raise sales as an organization. Therefore, you need to build on any potential partnerships and new sales. One of the easiest ways to do it is by cross-selling. If done correctly, cross-sales will add value to your established client relationships, help your branding efforts, and increase revenue.
Here’s what cross-selling is and why you should care, along with five tips to get you started.
Cross-selling is the practice of selling another product or service to your client, in order to maximize the value of the transaction, both from the client and the seller’s side. Cross-selling often gets confused with upselling. In opposition to cross-selling, upselling is a process that adds to the functionality of a product. Cross-selling can be seen as a horizontal process and upselling as a linear one. Imagine, for example, being in a fast-food restaurant. Upselling is when the cashier asks if you want an extra-large cheeseburger instead of a normal one. Cross-selling is when she asks you if you want fries with your burger.
Cross-selling can help you bring out the maximum in all your client relationships. Here are some of the most common methods for effective cross-selling.
The first step in cross-selling is simply offering extra services to clients. While this may seem obvious, it is important to take a strategic approach. Aim to sell something that might be relevant to the product or service that the client is already purchasing. For example, if you are selling razors, you might want to sell a shaving cream. In the context of software, this can mean tools that complement the functionality of your software.
Think one step ahead of your clients and curate potential offer packages that are relevant to them. You can easily do this by backtracking your previous client interactions. By understanding the specific consumer behaviors of your clients, you can deduce patterns in their purchasing behaviors. Based on data-driven suggestions, it is more likely that you can make offers that are especially relevant to them. For example, omnichannel solutions enable you to backtrack previous client interactions on all your used communication channels, enabling agents and employees to interact with clients while fully understanding their specific needs and preferences.
If your company is having a special offer at the time of communicating with your clients, it is also a perfect time for cross-selling. The strategy of bringing your client’s attention to ongoing, special promotions is less intrusive than directly approaching them with it, without any previous context. Therefore, clients won’t feel overwhelmed by your communications. A good example of a promotion pitch is offering an additional service or product with a discount in the context of black Friday.
Many clients might not fully understand the full value of a service or product that they are not yet using. Try to inform your clients about the benefits of services that might complement their already existing product or subscription. This will also help your branding efforts, as it enables you to show your expertise within your industry.
Although it’s important to try and maximize your client interactions, it is important to always keep quality customer care in mind. Just because you offer a product or service that would be complementary to the one that your client is already using, does not necessarily mean that your client needs it or is interested in it. Aim to establish a personal relationship with your customers and try to understand their personal or business goals. This way, you can relate to them, making sure that you are delivering a personal service, specially catered to them. While this might seem counterintuitive, such an approach will guarantee long term trust and loyalty to your brand.
Cross-selling is an important definition to keep in mind when aiming to strengthen your relationship with customers. By cross-selling, you are able to bring out the maximum in your client interactions. However, as with everything, a strategic approach to cross-selling is key.
Make sure to offer extra services or products that are relevant to your clients, think ahead of them, by curating services or product packages based on their needs, make sure to pitch promotions, and educate your clients about your products and services. Last but definitely not least, make sure to match your cross-selling aims with the goals of your clients. The combination of these elements will not only help you increase sales, but also help your branding efforts and strengthen your relationship with your customers.
