Cross selling is one of the simplest ways to bring in additional revenue from existing customers. The technique can save you money on additional marketing and it can make you more with extra sales. For example, you may go to a spa for a luxury manicure and then may be offered a discounted pedicure at the same time or next time you are in.
Tip – make sure the cross-sell item is cheaper than the original product. Aim for maximum temptation with minimum cost.
The item you are cross-selling should be related and relevant so the customer will see a natural link e.g. a car service and car MOT.
By cross-selling, you are promoting customer relations and showing that you understand your customers and their needs and wants. Good customer relations will in turn lead to customer loyalty and an increase in your profits!
Cross-selling is a type of sales promotion, offered to customers. So, what other types of sales promotion are there for you the small business to use?
- Incentives to buy more e.g. discount vouchers
- Loyalty schemes and cards e.g. Tesco clubcard
- Up-selling e.g. upgrading to a large McDonalds instead of a regular size
- Bundling products together to tempt buyers to buy more or differently e.g. buy an iPod and docking station together
Whatever your promotion or cross-selling campaign, make it easy and simple for the customer to take up and buy.
Knowing your customer is key. Know your database ….