What are the benefits of up-selling and cross-selling? Check out some useful information below on why these types of features are some of the best tools for your reps.
Customers will look at the relevance of your products and how they can be of benefit. Up-selling offers products like the item they are viewing at a slightly higher price, maybe a different brand or larger size, with more benefits and of a better quality.
Customers are given variants and options to enhance their offering which in turn allows reps to increase average order value. You will retain customer loyalty as you are offering them a better product that may also give them a significantly higher return.
One key aspect of upselling is based around price. Depending on your business’s target market this will have a large influence on the pricing of your products. Consider entering both markets and using pricing variations to do so:
1. Have product ranges that fit the bill for the high volume low price customers. It can be very easy to sell lots of low-cost items and move them fast.
2. Separate out your higher-end products to try and attack the Marks and Sparks of the world. At the same time, you must add value to your upsells. Add more product content and take the time to explain the benefits of paying more.
Cross-selling is very different to up-selling. Where up-selling says to sell the same type of product in a larger or higher priced alternative, cross-selling aims to build additional lines into the order.
There has been a significant increase in order volume highlighted in our customer base through the use of linked products and effective product filtering. When a rep sits with a customer and has the ability to show them alternative product fast and easily, there is a significant chance the customer will respond by adding more to their order in a shorter space of time.
In SalesPresenter, there is a tool used widely called Linked Products. This tool gives companies the ability to directly link one product to a movie reel of others. You can even use basic copy/paste functionality to very quickly add these alternatives to orders. For example:
You are selling a Rabbit gift card. As a rep, you are aware that the customer has allocated 4-5 spaces for other similar themed cards. From exactly the same screen the rep will be able to show and ask the customer if the Pony, Sheep, Guinea Pig and Horse cards also suit. If so, they can simply paste the quantities to all the alternatives and add them to the order in literally 2 taps of the screen!
An extremely visible increase in the order value AND volume. It’s a no-brainer!