|
Consequences? ADVERTISEMENT Confused? Don't worry. Keep reading and you will understand how these questions can increase your income! What is cross selling (and what is not)? Imagine you walk into an electronics store and tell the salesperson that you are looking for a new phone. Your only requirement is that it has a powerful battery because "you hate running out of battery or carrying the charger everywhere." Next, the salesperson shows you the most autonomous phone on the market and before going to the ATM to pay, he asks you: "why don't you take a power bank too?" Then he explains the offer: "for another $, you
take a power bank home and you will always have enough charge to double the Chinese Australia Phone Number List battery life." Great, right? Then, in the checkout line, you see another customer talking to the same salesperson. But this customer wants a cell phone with a great camera because he loves taking photos. After the salesperson presents him with the best camera phone and closes the sale, he asks, "Do you already have a selfie stick ?" You must have already gotten the idea. So what is cross selling? Cross-selling is the technique of making an offer for a product that is complementary to what the customer has decided to buy in order to increase t
he store's revenue. That is, (taking the example as an explanation) you wanted a cell phone with a good battery and you also got a power bank and the other customer wanted a device with a good camera and bought a selfie stick to complement it. So yes, this type of strategy can play a vital role in increasing your company's revenue. Harvard Business Review conducted a study among companies in Europe and the United States, and found that everyone who implemented cross-selling strategies increased the ROI results of each client. Difference between upselling, downselling and cross selling Remember that it is important to differentiate cross-selling from similar techniques with similar
|
|