Both cross-selling and upselling can be useful methods for increasing your business’s sales. But there are also genuine benefits for your customers. They’ll appreciate being offered an item that either complements or adds value to their original purchase.
Cross-selling is the art of convincing your customers to buy a complementary item to go with their main purchase.
For example, if you’re selling books in your bookstore, you’ve got an opportunity to cross-sell by encouraging customers to purchase a pen or bookmark as well.
When deciding what items to cross-sell, look at what you can add to a sale to increase your profit margins, but also keep your customers’ needs uppermost in your mind.
Although certain methods of cross-selling are largely dependent on what kind of product or service you’re offering, there are some basic, tried-and-true techniques that can be applied to almost every business.
Getting the hang of cross-selling and making a habit of it are essential if you want to increase your sales and provide additional benefits to your customers.
An important part of successful cross-selling is to be prepared. It’s not something you should improvise. Think about the products or services you’re offering and plan the ones you can sell together. What you’re offering as a cross-sell should be cheaper than the original purchase.
Some of the best and easiest ways to cross-sell are:
Upselling is a slightly different selling technique, where you’re aiming to convince your customers to purchase a more expensive item, or to upgrade to the next product (or service).
Quite often you’ll be informing your customers of other options that they may not have even considered, with the aim of selling more and maximizing your profits.
In restaurants and cafés, upselling is commonplace and an accepted way of conducting business. Customers generally view it positively – which is an important point to check. For instance, a car salesperson trying to upsell an average-priced vehicle to a more expensive one may not be seen so positively.
Some techniques you might consider when upselling include:
Cross-selling and upselling are selling techniques that you’ll get better at the more you try them. As you gain experience and confidence you’ll get a feeling for when cross-selling or upselling opportunities present themselves.
Learning the arts of cross-selling and upselling isn’t something you should ignore. They’re essential marketing tools and highly effective ways of increasing your sales, and inevitably, your profits.
Always keep in mind the benefits you can offer to your customers with cross-selling or upsell offers.