Examples of cross selling include: Fast food restaurants asking: “Do you want fries with that?” eCommerce websites showing “customers also bought” A mobile phone retailer suggesting a customer buys a new case for their new phone.
What do you mean by cross-selling?
Cross-selling is the practice of marketing additional products to existing customers , often practiced in the financial services industry. Financial advisors can often earn additional revenue by cross-selling additional products and services to their existing client base.
What is a good example of cross-selling?
Cross-selling examples
Examples of cross-selling include: A sales representative at an electronics retailer suggests that the customer purchasing a digital camera also buy a memory card. The cashier at a fast-food restaurant asks a customer, “Would you like fries with that?”
What is the purpose of cross-selling what is an example of cross-selling?
A cross-sell is when a company or salesperson sells a customer a complementary or similar product to what the customer is already purchasing . For example, if a customer is buying a shirt, the salesperson may try to cross-sell them a necklace that complements the shirt.
What is up selling and cross-selling with example?
For example, if you encourage a customer who just bought a new phone to get a protective case at the same time , that’s a cross-selling win. ... For example, if someone comes into your furniture store looking for a bedside table and you sell them a whole bedroom set instead, that’s an upsell.
What is cross and up selling?
Definition: Upselling is the practice of encouraging customers to purchase a comparable higher-end product than the one in question, while cross-selling invites customers to buy related or complementary items . Though often used interchangeably, both offer distinct benefits and can be effective in tandem.
How effective is cross-selling?
Cross-selling and upselling represent easy wins for increasing revenue, because existing customers are far more likely to buy than a new prospect. Marketing Metrics puts the odds of making a sale at 60-70% for existing customers and only 5-20% for new prospects.
What are the characteristics of cross selling?
Cross-selling involves selling related, supplementary products or services based on the customer’s interest in, or purchase of, one of your company’s products. Its a great way of increasing customer loyalty and deeping customer relationships which in turn can improve customer lifetime value and retention.
What is an example of upselling?
Upselling is focused on upgrading or enhancing the product the customer is already buying. ... For example, a housekeeping service might upsell a customer buying a weekly cleaning package by offering a package with more rooms , and cross-sell by also offering a carpet deep cleaning service.
Why is upselling so important?
Upselling (or selling-up) is a valuable technique for increasing the profit margin of any retailer . If your sales associates lack knowledge about the products they sell, it can be difficult for them to recommend a value device, much less a better-performing product. ...
What are the do’s and don’ts of cross selling?
Do: Provide value .
Cross-selling makes the sales process easier because you’ve established a relationship with your customer. However, you are still selling an intangible product, so you need to establish the value of that product quickly. Emphasize value and benefits and don’t get caught up on features.
What is a cross selling model?
Cross-sell involves the sale of multiple products offered by a single product/service provider to a new or existing customer . Up-sell is selling higher value products/services to an existing customer. For example: You plan to purchase a mobile phone within a price range of Rs. ... (This is Cross-Selling).
How do you do cross sales?
Cross-selling is simply recommending products or services to your existing customer that will complement or expand the products or services they already have. Look at the travel industry for instance. The travel company may sell you a ticket on a flight to your desired vacation destination – that’s the original sale.
What are your selling techniques?
- Sell to Your Buyer’s Situation (Not Their Disposition) ...
- Disrupt Your Prospect’s Status Quo. ...
- Introduce Unconsidered Needs. ...
- Tell Customer Stories with Contrast. ...
- Avoid the Parity Trap in Sales Conversations. ...
- Make Your Customer the Hero.
What are the types of selling?
- Transactional selling.
- Solution selling.
- Consultative selling.
- Provocative selling.
What do you say when upselling?
- A is for Ask. Let’s start with one of the most important upselling tips: Make the ask. ...
- B is for Because. ...
- C is for Command. ...
- D is for Describe. ...
- E is for Entertainment. ...
- F is for FOMO. ...
- G is for Go-To List. ...
- H is for Highest Price.
