Cross selling to increase your profit

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  • Joined: 23 Mar 15
  • Karma:
11 Jan 18 05:55:26 am
There are many ways to increase your sales. Either you find new customers or sell more to your existing ones, studies show that the latter often brings you higher ROI and is the simplest one to make.

Cross selling is one method of generating more sales by offering additional, or related items to a buyer who’s already pledged to make a purchase. It’s easier to retain customers this way, as it’s harder to advertise and target new customers in the first place. With cross selling, you (may) have already built your buyer’s trust and confidence after closing a sale – this makes it easier to offer something else that goes with what that customer already bought, as they’re more inclined to purchase that item.

The main goal of cross selling is to maximize a customer’s buying experience by adding more value to their initial purchase. Below are simple ways to be successful at it:

1. Identify and create complementary products – Of course, a cleaning agent doesn’t go with headphones, for example. Make sure you categorize your items first before offering anything else to avoid bothersome situations with your customer. Timing and positioning your products ahead need to be tested for maximum yield.
2. Product bundling – You can pack items that naturally go together such as HDMI cables for HD/DVD players to maximize your profits. This way, you basically earn 2 sales by selling them as a bundle.
3. Provide visual aids – Picture a model wearing a trendy outfit from top to bottom with tag line such as “Shop the look”, or a car interior featuring accessories that complement each other. Customers are primarily driven by visual cues and the best way to demonstrate them is to create videos or high quality images on how these products function in real-life.

The biggest drawback with cross-selling is that you might upset a buyer with irrelevant offers. So you have to make sure you only promote the right product at the right time.

These are just a few ideas on how to increase your sales. Anything you can share about your experience?


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