Do you want to improve your company's revenue generation through sales?
To do this, there are two main approaches: gaining new accounts or increasing the value of existing ones.
We know that winning new accounts is much more expensive than maintaining and increasing the value of existing ones, which is where cross selling and upselling come in.
For example, this is the name given when, in an IT store, a salesperson asks you if you want to take twice as much memory or disk space for half the price.
What is Cross selling and up selling?
You may not know the term, but you certainly know the practice! These are strategies that will bring a great ROI for your sales campaigns. Let's understand what each one is:
Upselling:
It is a sales strategy in which the seller or a website suggests an addition to the product or service being purchased.
Its goal is to try to change the customer's purchase decision for a more expensive product. The reasons for convincing the customer to make the switch include better quality, more quantity or more resources. The idea is for the seller to identify the criteria that can lead the customer to buy a better product.
The companies that stand out in the up selling are effective in helping the customer to visualize the value they will obtain when buying a higher priced item or service.
Crossselling:
In Crosselling, complementary products are suggested. Cross selling is the sales technique that encourages the customer to not only buy the product that was focused on, but also complementary products and items.
You must select products that satisfy your customer's needs that are not met by the original item.
The idea of cross selling is to offer the customer a more complete shopping experience through solutions that better meet their needs.
Cross-selling can be carried out by companies of the most diverse sizes and segments, and the initial step is to identify in their portfolio of products and services which products are interrelated and how they fit into this proposal. In the strategy, this sale should be part of the customer's purchase journey and expected from the first contact.
Get to work!
Anyway, remember that these strategies have to benefit your company and the customer. Now that you know what it is, and the difference between up selling and cross selling, it's time to think about how to implement these strategies in your company!
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