These strategies are widely us by businesses to retain customers and sell more , since attracting a new customer is 6 or 7 times more expensive than retaining an existing one. In addition, loyal customers are five times more likely to buy again these strategies .
In a world with such a competitive market, where customers can choose the businesses that provide the best service or experience , it has become necessary to apply additional sales and cross-selling strategies to increase revenue and retain users.
Maybe you’ve made it this far and you’re still wondering what cross-selling and upselling are , but don’t worry. Keep reading because in this post we’re going to tell you more about these two powerful
strategies so you can apply them
You may also be interest in: How to Boost Your Sales Success Rate with Live Chat .
What is cross-selling?
Cross -selling is a strategy that involves customers purchasing products or services that complement the one they have already purchas or are willing to purchase. The idea is that the user adds one or more items and improves india telegram data their experience, as well as their perception of the product or service.
We are going to explain it to you with an example so that it is more didactic and easier to understand:
Imagine that your cell phone has fallen to the floor and the screen has completely crack; it’s time to buy a new one.
You go to the electronics store, tell the salesperson what happen to your old phone, choose the cell phone of your what are facebook chatbots? choice and prepare to pay.
Before you make the payment, the seller approaches you, offers you a case and a screen protector to protect your new cell phone and you end up buying them because you don’t want the same thing to
happen to it as happen to the old one
In the virtual world you will see cross-selling being encourag with phrases like “customers who bought this item also bought” or “frequently bought together”. E-commerce sites often promote products relat to the one you are looking at.
In fact, one study found that Amazon, the most expensive private company in the world, attributes 35% of its profits to cross-selling .
Upselling is a strategy that be numbers consists of multiplying sales and generating more income. The objective, basically, is to offer similar products or services but with a higher quality/price or to increase the original model with additional resources .
If we continue with the cell phone example, in the case of upselling the seller would offer you the latest model that is resistant to falls and water. Since you are going to buy a new phone, why not invest in the best one?