Up-selling and Cross-selling
It can be much more cost effective to develop your existing customer base than to find new ones and yet it’s often overlooked.
If you offer more than one product or service then you should first look for opportunities to cross-sell and up-sell to your customers.
When you cross-sell, you offer the customer products or services that are complementary to what they purchased in the first instance. In many cases it can be as easy as just informing your customers that you sell these too!
If you’ve have developed a new product or service then you’ll need to think about the best marketing tools to tell your customers about it.
Access free on-line tools to help you develop your business at a time and place convenient to you!
Up-selling is about offering your customers a better solution for an increased fee
For example, you may offer three versions of a product or service, each with different features and benefits.
You can explain these differences to the customer and convince them of the additional benefits the more expensive solutions offer.
Performed correctly by your sales people, both methods will encourage customers to spend a little more, leading to increased average order values and your overall sales.