Up Selling and Cross Selling. Don’t Leave Money on the Table

Up Selling and Cross Selling allow salespeople to obtain additional revenue out of the same transaction.

Up-selling

Up-selling

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Taking advantage of an explicit buying intent is both sales 101 and marketing 101, because it is based on maximizing revenue from existing leads. Remember that the cost of selling to an existing customer is only a fraction of the cost of selling to a new customer.

 Cross-selling or add-ons
Cross-selling

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Up-selling and cross-selling appeals to someone who already agreed to purchase from you, which lowers your cost per customer. This is a smarter way of driving sales.

 

Local shops are better at building emotional connections, but national brands generate more revenue from up-selling and cross-selling.

Up-selling and cross-selling are tactics that smart business owners and executives use to increase their ROI in a transaction-based business. However, building emotional connections beyond transactions helps to make customers more loyal, which creates long-term revenue. This is easier to do for local brands, because management and the rest of the staff are really a part of the local community.

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