What is Cross Selling?
Cross-selling is a Selling technique in which the seller tries to sell an additional product or service to the customer in addition to the core product which the customer intended to purchase.
This is done by trying to sell related products as per the context of the customer. With this approach, the seller is able to make additional revenue and at the same time customer is able to derive more value from the purchase transaction.
An Example of Cross-Selling
Let us try to understand this technique with the help of an example.
Let’s say you went to an Electronics store to buy a laptop. When you meet the sales executive, he shall ask you about your needs and the purpose for which you will be using your laptop. During your discussion, you mentioned that you require a laptop for office work.
After a while, you finalized one laptop for purchase at the store. Now during that time, the salesperson may propose to cross-sell another related product say a mouse or a headset which will prove to be helpful to you as part of your office work. This way seller tries to match your needs by trying to cross-sell a few additional products or services.
Seller may also offer some discount on the additional products being sold. For example, they may offer complementary antivirus software or laptop warranty services at discounted prices. This way as a customer you may also be able to get more value out of the price paid, otherwise, you might have bought it separately without much of a discount.
How Cross-Selling helps?
Cross-selling helps both the seller as well as the customer.
The seller gets to improve his organization’s revenue and also build a deeper relationship with the customer by providing more value for their buck.
Similarly, the customer also benefits by saving time and money which they might have spent exploring the other related products themselves later.
Contrary to what a newbie salesperson might think, Salesperson, should not hesitate to try to cross-sell add-on products and services to the customer. Cross-sell can be very helpful to the customer if the salesperson is genuinely interested in adding value to the customer.
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