Increasing the number or the volume of sales is listed among the top targets of sales & marketing teams in each and every company. Through the correct planning of cross-selling and up-selling, companies can go beyond their current sales. To imply the true spirit of the cross & up-selling mechanisms in a company, every manager needs to understand the metrics behind these concepts. Today, we will go over cross-selling, up-selling, and the ways that they can be best fitted to a company.
What is Cross-Selling?
Cross-selling is a method by which the company offers an additional product or service besides the primary product to its customer. For instance, let’s consider the companies that are selling telephones as primary products. If these companies sell phone chargers, headphones, and phone cases to their customers in addition to the phone, they will conduct the cross-selling method.
What is Up- Selling?
In the up-selling method, companies try to increase the amount of purchasing through additional upgrades, premium options, etc. For example, let’s continue with the companies which are selling cell phones as their primary products. The amount of memory, the quality of their cameras, the size of their screens, etc. are examples of the up-selling activities of these companies.
How can Companies Apply Cross-Sell and Up-Sell Activities into Their Sale Mechanisms?
For implying the proper cross & up-selling techniques to increase the volume of your sales on the customer base, you should consider the following 5 steps:
- Use the power of your data:
Customers intentionally conduct rationality behind their purchasing. Going over their old purchasing data will assist you to find out their purchasing behaviors and segmenting them according to their behaviors into groups. Not all of your customers carry a high potential for cross-selling and up-selling. Identify the groups of your customers that have the potential to buy more or buy extensions. Also, segmenting them according to their behavioral tendency for cross-selling and up-selling.
- Create correct incentives:
To conduct proper selling alternatives, use the segmentation of your customers. Provide behavioral roadmaps for each segmented customer group and try to modify your cross & up-selling objectives. Create customized selling alternatives to incentivize your customers to get involved in the selling processes.
- Assist your customers:
After the completed segmentation and road mapping of your customers, you are ready to assist them in a way to practice your techniques. Providing them with customized bundles of products or services that they can relate to their past behaviors. The crucial part of the up & cross-selling methods is here: make them united. Guide your customers to take the attention to united products/ services that you are offering.
- Limit your activities:
For achieving your sales objectives, you should conduct a proper & focused marketing target for your customers. Being more specific in relation to your customers’ past purchasing behaviors will provide a focus to your sales teams to apply proper sales alternatives. Do not try to imply more than one sales alternative to your customers. Your customers will be more pleased when they experience more direct and customized sales approaches.
- Make a clever – sell
Avoid showing your customers that your sales team tries to conduct cross-selling or up-selling activities. Rather than that, propose the problems, options, and advantages that come with the alternative bundles to your customer. In this way, customers will notice the options, get more involved in the communication, and accept more easily the offers.
How to personalize the Product Diffusion Curve in your business?
To conduct the right strategy for improving your sales team cross – selling & up–selling activities, you can imply the Advantage of the Right Cross-Selling & Up-Selling Activities Template. For creating personalized Advantages of the Right Cross-Selling & Up-Selling Activities Template, Contact us.
To get a more specialized and automated system of cross-selling & up-selling activities for the portfolio and campaign mapping, determination of customer-based sales and campaign targets, specification of the sales target specific to the customer for the sales team, and directing the sales representatives about suitable campaigns and offers for each customer for maximum sales, you can check Campaign Selling Assistant.
Contact us to get more information or discover your probable personalized roadmap for a Campaign Selling Assistant.
Additional Tips and Readings
- For segmenting your customers according to their purchasing behaviors that will improve your alternative selling methods, you can check The Product Diffusion Curve
- For conducting a personalized target campaign and/or campaign set for each covered customer (pharmacy or pet shop), Customer Incentive Wizard is what you are looking for. To get more information about Customer Incentive Wizard, you can check
