What are the key benefits of cross-selling and up-selling for your business and your customer loyalty?

Cross selling is great for not only the seller (sells more and increases revenue per customer), but can be a huge advantage for the buyer. Often, when this doesn’t happen, the customer get’s the new product and quickly realizes that it would be easier, better, etc. if they had bought an additional item. If the seller does not tell the buyer about it, they may never know. It is a great example of consultative selling. Up-selling is a great way to increase the per customer revenue for the seller. The advantage for the buyer is a newer, better product than the one they came to buy.

Cross selling is powerful, because you already have an established relationship with the Customer. Trust should already exist and it’s a great way to see how Customers respond to the new product for future prospects. It also provides ‘Quick Hit’ revenue for all your existing clients.

Both, cross-sell and up-sell are upgrading the level of quality that customer gets. The cost will be higher but, sometimes, if the customer agrees to buy and the accessories/services are uplifting the main product it worth it to practice a smaller margin for the up-sell/cross-sell, crafting a more attractive package. Product's value is increasing, the customer is satisfied, and the company wins. This will be leading to recommendation, free marketing, and bigger customer awareness for the entire solution. There are just plus points regardless any perspective that we look from.

This is ‘Strategic Selling’. This is where you need to know your funnel and keep good spreadsheets. You can instantly gather clients that you have an established relationship with and understand that your new product is a good fit for them. It is always advantageous to practice your pitch of a new product on clients you feel comfortable with. Helps you prepare for cold calling. What were the reasons people responded the way they did? The Good-Bad & the Ugly!

I would consider that when we do cross-sell and up-sell there is just one reason, or ot should be; to deliver more for the money, to go the extra mile showing the customer the benefits of the complementary products or services. We are doing this to make sure that the customer is aware that by accepting he will get all the advantages that could be offered by the product in any way, shape or form. Consultative selling is about presenting and delivering the best solution that customer can get. Honesty, clarity, trust, research, knowledge and ability to pinpoint the real advantages that will solve customer's problems are mandatory.. Anything that comes from the area of sales technics, persuasion are not consultative sales anymore, just sales.

Best practices for cross/up selling is stay focused on one to two ways this will benefit the customer. Focus on the Vertical Market so you can customize your approach specifically for that customer. Tell them exactly how it can help them. Explain how financially it can help. Example- save time which in turn increases productivity per employee. Ask open ended questions you don’t really need the answer to. It makes the customer think. Ex. if you purchase this new quizmo it will help increase your productivity by approximately 20% per employee. How much will that save you monthly? annually? Very powerful.

Just try to see from customer's perspective all the time. He will buy, each and every time from you id he gets what he really needs. Even if he think that he needs something slightly different but your solution is sorting the problem, the need, you have just to make him see that and he will remember. If we would sell something just because the customer suggested in the first place but later will realise the fault we dis nothing for him, nothing for us, but maybe a one off sell for the company. But this is not consultative selling anymore.