Do you know what cross-selling and up-selling is? A great opportunity to fully exploit your customer’s purchasing potential.
Much is said about how a sales team could make an up-selling strategy to increase sales and make the customer buy more.
Salespeople hear this in sales courses, in books, and they wonder how they could create a strategy for their customers to pay a little extra to bring a better product.
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After all, what is an upsell if not exactly what we said above?
By the way, who doesn’t want to take a larger order instead of a smaller order? This is every salesperson’s dream.
And as for cross selling , why not take advantage and sell products or services related to what the customer already buys, increasing sales even more?
Currently, there are even sales CRM systems like the Agendor that allow cross selling and up selling to be better explored by sellers, however, it is essential that professionals know how to identify opportunities to put them into practice.
So, first of all, we need to make an ethical parenthesis on this matter. Regardless of what is cross selling and up selling in your understanding, we are not telling you to push anything to the customer.
The up selling marketing strategy is not just about shoving something a customer will never need.
Understand what upsell is with this example of what not to do: we can mention the salesperson who wants to sell the dental plan anyway to a client who is contracting the health plan and already has a dental plan.
That’s wanting to push a product the customer doesn’t need just to increase commissions.
As we are always talking to professional salespeople, we know this is not the case.
Upselling accounts for 35% of sales by giants like Amazon.com
But then, what is cross selling and up selling?
Upselling is a sales strategy in which a seller or website suggests an add-on for the product or service being purchased. In Crosse ling, which has a noticeable difference, complementary products are suggested.
Let’s see a small example that will help you better understand what is cross selling and up selling. You arrive at McDonald’s and place your lunch order.
At the end of the order, the clerk asks if you want to exchange your potatoes for large potatoes for another 50 cents. This is an example of what upselling is.
On the other hand, after you place your order and the attendant takes notes, he still asks if you want to accompany your order with a sundae or milkshake. A true example of what cross selling is.
This is not just true for McDonald’s. At an IT store, a salesperson asks us if we want to take double the memory or disk space for half the price, for example.
At a dealership, they ask if we don’t want electric trio, power steering and air conditioning for a promotional price, and so on.
To get an idea of the great functionality of these tools in sales, it is estimated that 35% of Amazon.com sales come from cross selling, upselling and recommendations. This is the meaning of up selling and cross selling: generating more sales.
Now that we understand the power of upselling marketing techniques and their concept, we’ve selected some tips for you to do this using CRM.
1. Map upselling opportunities into qualification
How do you know if a customer can receive an upselling proposal?
It’s not enough to go out offering big potatoes for another 50 cents for those who are buying a McCabe, is it? It is necessary to know if your customer can pay, if he sees value in what you will offer and, especially, if there is any use.
It’s just the way the upselling offer fits into the whole thing that makes it interesting for the customer and he says yes in the end. Otherwise, you’re wasting your time and your customer’s time.
Qualification is the right time to write it all down. What are the customer’s expectations about your product? How can your product help the customer get where they need to be?
Use your customer’s background to qualify them as specifically as possible, understand what they see of value in your product and what reselling and upselling options you can develop within them.
It is from the observations you make in your customer’s history that you know what you can offer and how far you can aggregate sales in a useful way for both parties.
Always remember the M.C. Donald’s attendant offering a bigger potato for a smaller price.
2. Appeal to the pocket
Now that you have a better understanding of what is cross selling and up selling, take a look at these tips.
When suggesting the upsell, do not show the suggested product price. Just show the difference. So, if the product is 200 reads more expensive, just put the difference. If the difference per installment is 20 reads, just say the price per installment.
This will show that the upsell is really worthwhile and the customer will take the company’s suggestion well because they will see only a small difference.
It will be precisely by highlighting the price difference that the consumer will feel that the difference may be worth it for the benefits involved.
We believe the upselling strategy can be a very payback feature for your online store.
So start suggesting upsell improvements for the best products, measure responsiveness, and continue to control and monitor what goes in and out of your upselling strategy.
It is always possible to add value to e-commerce and make a successful upselling strategy. Get more out of this tool to make a difference in sales.
Show the advantages of buying something better that adds value to the customer and makes the purchase achievable for the customer.
For example, if the upselling offer is too expensive for the customer, just show how much income he will earn, that is, how much more he will pay per month or how much discount he will earn when renewing the service.
You need to help the customer see upselling as a big advantage.
3. Use the Scheduler’s products and services registration
Registering the products and services of the Agent helps the seller to know and understand which customer has the potential to buy which type of product from a customer, in addition to having an overview of the products being traded.
The registration of products and services is useful for reselling and upselling, which is fantastic because it helps to work out sales opportunities within customers. It is a simple, powerful and secure CRM.
After registering the products and marking those that your contacts have interest or potential to buy, it’s time to understand how to get information to sell more.
Registering the products and services of the Agent helps you to relate your customers to the products that are being traded. With this you understand what are the future opportunities to offer products to your customers.
By knowing the products of interest to a customer, as well as the offers, the salesperson can create new upselling opportunities with real meaning for the customer.
Registering your products and services on the Agent and upselling
Up selling strategies are an excellent opportunity to increase sales
The up selling marketing helps the seller to increase sales by showing its customers opportunities to purchase products that are useful to his routine.
With this, sellers not only sell more, but they are also able to better serve the customer and generate the trust necessary for him to be loyal by the seller.
In addition to increasing sales by a few dollars more and giving the customer an opportunity to get more for an affordable price, you will also show that you are willing to help the customer buy the best product at an acceptable price.
Good sellers are always on the lookout for new opportunities to offer more to their customers. This is not only a business opportunity, but also a way to take advantage of all the opportunities within your offering.
What does cross selling mean?
Cross selling means “cross selling” and refers to the sale of related or complementary products or services that can be purchased together to improve the customer experience. For example, when purchasing a professional camera from an online store, other products may be offered, such as lenses, camera holders, tripods, etc.
How to do cross selling?
- Analyze the profile and needs of your customers;
- Plan the relationship between the products offered;
- Present offers that complement each other;
- Offer discounts for products purchased together;
- Send discounts and promotions for customers to buy again;
- Show social proof, the famous “often bought together”;
- Test it out, see what works and what doesn’t.
What is an upsell?
Upsell is a sales strategy aimed at encouraging the customer to buy a more complete, improved, and higher-value version of a product or service. The idea is to increase sales and revenue while at the same time improving the buyer’s experience with your business.
How to upsell?
- Offer an upsell that is really relevant
- Show how you can improve customer outcomes;
- Indicate the need for the upsell;
- Present solutions to real problems;
- Make the differences and gains clear;
- Display simple suggestions, avoid indecision;
- Focus on customer satisfaction and success;
- Don’t be pushy.
What is the difference between upsell and cross sell?
Although they have similar concepts and goals, the main difference between upsell and cross sell is in the purpose of the products offered. Up selling works so that customers buy a more complete product or service, with more features and more expensive. On the other hand, cross selling focuses on adding complementary producers to the “cart”.