Why you should use Upselling and Cross-selling as part of your marketing plans to consumers of your product and future sales.
Only those marketing strategies can be successful the implementation of which leads to the mutual benefit for both the buyer and the seller. Focusing on the interests of the buyer allows the trader to see the possible additional needs of the client and offer the best option for meeting them. In marketing, these strategies are called upselling and cross-selling.
Intuitively, they have been used since time immemorial. Therefore, anyone can easily understand what is upselling. However, the technologization of this marketing strategy helps to receive significant additional profit. Therefore, it deserves serious consideration and application in the practice of your company.
Upselling: Try to Raise the Buyer’s Request
As a rule, people seek to save money. Therefore, of all possible options, they will prefer the most budgetary one. However, such a consumer strategy impoverishes people in terms of the quality of the goods and services they receive. They buy milk with less fat, a computer with a smaller screen, concert tickets high up or on the far side.
By offering them a more expensive product or service, you do more than just increase your profits. You allow them to benefit from better and more advanced products and services. You know how much healthier dairy products with a higher fat content are. Likewise, you could see from your own experience the advantages of a phone with a large memory capacity.
Don’t doubt — everyone benefits from such a strategy. The consumer will thank you for a more perfect product, and you will receive additional profit for the development of your business.
Cross-selling: Fullness of Vision and Foresight
Also, consumers tend to follow one-step consumption practices. They buy the intended product without realizing that they may soon need something else in the process of using it. For example, they buy a cat, but soon, they will need a container for carrying it, a device for feeding, toys for entertaining the animal, etc.
When you trade a particular product, you are an expert in that industry. Therefore, you probably know what the buyer will need soon. Following the cross-selling strategy, offer and justify the need for additional products. A consumer will thank you for that later!
Take Advantage of Upselling the Better Alternative
You sell customers newer, advanced, and more functional and relevant products for their needs. After all, they could have no expertise in the field of acquired products. You raise their awareness in a particular area.
You are incentivizing more up-to-date consumer practices. This means that the next time, the consumer comes to you not for an outdated phone model, for example, but for a fresh and more expensive novelty.
How to Make Upselling Unobtrusive
Ecommerce gives you a wonderful possibility to offer more costly and advanced goods in a delicate manner. All you require is just to present better quality goods on the same Internet page with the demanded offer. You can highlight them with eye-catching inscriptions, such as “new,” “bestseller,” “on sales,” etc.
How to Make Cross-selling More Efficient
There are several secrets that will increase the likelihood of cross-selling:
- Do not offer an additional product that costs more than already purchased one.
- Do not propose too many supplementary products — just choose a couple of them.
- Use in-depth analytics to study customers’ behavior. It will help you find out which supplementary goods perform better on cross-selling.
Grow your business in partnership with consumers. After all, by improving the quality of their consumption, you form the future demand. The more effort you invest in relevant marketing strategies, the more reliable your future investments and higher profits will be. Go beyond the minimum basket of consumption together with your grateful consumers!
