Why Increase Cross–selling?
Cross-selling involves purposefully marketing and selling additional value-added products and services to existing customers that complement what they have already purchased or are considering buying. Cross-selling is an effective business sales training technique designed to:
Success at cross-selling requires that a salesperson has the confidence, competence, and conviction to help customers see the value of adding on complementary products or services. Examples include a car salesman encouraging you to buy a cargo liner after you have chosen your dream truck. Or a fast-food employee asking if you want fries with your burger. Or an eCommerce website recommending personalized additions to your cart before you check out.
A Mistake that Too Many Sales Leaders Make
Intuitively, cross-selling makes sense. Once you have won a new customer, why wouldn’t you try to sell them more stuff? Unfortunately, too many sales leaders over emphasize the importance of winning new clients. The research makes it pretty clear that growing wallet share of existing customers is better, faster, and cheaper than acquiring new customers. According to Invesp:
So, smart sales leaders focus on how to increase cross-selling to grow faster.
How to Increase Cross-Selling to Grow Faster
Every sales team would like to realize the increased revenue potential of cross-selling. The research points to five factors to do it successfully.
The Bottom Line
Successful cross selling reflects a synergy for your buyers where one offering enhances another. Just like referral selling, cross-selling is a great opportunity to increase revenue. Are you ready to increase cross-selling to grow faster?
To learn more about how to increase cross-selling to grow faster, download Are Your Sales Reps Leaving Money on the Table?
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