Tip #440: The Secrets To Cross-Selling And Up-Selling

Cross-selling and up-selling are among the best ways to improve your sales. In fact, it is easy if you just think about it. Additionally, cross-selling and up-selling can not only improve your customer retention but also your bottom line.

The Definition Of Cross-Selling And Up-Selling.

Cross-selling means you are offering the customer a product or service related to (or integrated into) something they are already purchasing. Up-selling means you are offering a customer another product or service during their buying process.

 

How Do You Know When It Is Appropriate To Cross-Sell And Up-Sell?

 

By the time you close a sale, you should have a fairly good idea of what type of product or service the customer needs. And at the closing of a sale, a cross-sell or an up-sell can feel like a natural part of the sales process. Approach this from the standpoint of educating the customer on other ways to assist them. Remain focused on the customer instead of the product or service. Plus, you can always give a buyer a choice, especially with up-selling, during the buying process.

Cross-Selling And Up-Selling Can Improve Your Customer Retention Rates.

Try to take an objective look at the products and services you offer. If you have physical marketing materials, spread them out on the table so that you can actually view a representation of each product or service. As you consider each service, determine which of your products are related to one another. Are there specific needs you could easily meet?

Let's say you are selling computers. Now think about what a customer would most likely need when they are buying one. Could they be interested in purchasing additional RAM, flash drives, back-up service, printers, cables or a larger hard drive? How about an extended service agreement? Do you carry these items? If not, why don't you?

5 Ideas For Better Cross-Selling And Up-Selling Success

1. Consider bundling a product with a service.
2. Make an expert recommendation, i.e., amazon.com's process when buying a book/item.
3. Offer a range of prices, i.e., Sears Roebuck and Company; Good, better and best.
4. Stay relevant to someone's needs/purchase.
5. Train your employees in cross-selling and up-selling techniques (and remind them that if they don't ask, the answer is "no").

Executive Summary: Implementing a formal cross-selling and up-selling program at your business will create an immediate value for your customers. Additionally, sales and customer service associates will feel much more comfortable selling additional items when they realize how they make life more convenient for the customer. But most importantly, train your team on natural ways to cross-sell and up-sell.

 

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