What is Cross Selling and How Can It Boost your Small Business Revenue?
By Rob Starr
Getting a customer to spend more money on your goods and services is a priority for small business owners and cross selling can help you do that. This sales technique is designed to get a client to buy something that’s directly related to the purchase they’ve just made.
What is Cross Selling
Here’s an example. If you walk into an electronics store to buy a new computer and the salesperson asks you if you want to upgrade the memory, that’s cross selling. In the digital world, the options that prompt you with a “customers also bought this” type tag have been designed as part of a cross selling technique.
If you’re wondering how to implement cross selling into your sales toolbox, there’s some strategies that brick-and-mortar and online retailers can use to get started.
Cross Selling Strategies
Some of the best strategies can be implemented quickly whether you’re a digital, brick-and-mortar or even omnichannel outfit. For example, if you own an electronics store, having accessories close to bigger ticket items is a great way to cross sell.
You might stock your shelves with memory cards, charging cables and upgraded batteries and place them around the display units that have computers in them. If you’re an online only store, you can build links to separate pages and use keywords like computer accessories.
It’s also possible to put a tab at the top so the navigation for your users is simple and accomplishes your cross selling objectives.
You don’t have to look far for examples. In fact, the next time you’re up for fast food at McDonald’s you’ll run right into some cross selling when the counter person asks you if you want a dessert with your food or if you’d like the latest “meal deal.”
Keep in mind you need to train your employees on the real value and techniques behind cross selling if you’ve got a physical location. For example, people selling windows for home renovation companies should stress the added savings customers will get on their heating and/or cooling costs.
If you need a little more convincing about how successful this technique can make you, Amazon reportedly gets 35% of their sales from cross selling. That number stretches back to 2006.
It’s important to keep cross selling and up-selling in their separate lanes. They are two different sales techniques and in an upsell you’re trying to sell the client something more expensive and upgraded.
For our computer store example, an upsell would be trying to sell your customer a computer with better built in features like a touch screen. Both techniques are useful ways for small businesses to increase their bottom line.
Here’s a few more cross selling techniques that are easy to implement and work well.
Get the Timing Down
Patience is one of the cornerstones of cross selling if you’re using emails or other digital techniques. Getting the timing right means understanding how to schedule a series of emails to sell other services or goods. For example, if you’ve sold web design services …read more
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