The most fundamental tenet of human behaviour is unending desires. This serves as the biggest strength of a business. As and when new needs emerge, new sales opportunities arise. All the right salesperson has to do is identify these evolving client desires and mould the sales strategy according to them.
The customization of sales processes takes two popular forms: cross-selling and up-selling. While cross-selling dominates the selling patterns of the most successful eCommerce giants contributing to a total of 35% of Amazon revenues, up-selling has been found to increase revenue by as much as 30%.
Cross-selling and up-selling are the methods of increasing customer value by selling them more products in connection to existing products. Cross-selling occurs when you sell the customer pieces that complement their choice items, while up-selling occurs when you convince customers to buy a newer or better version of the product they are looking for.
Three best ways to cross-sell and up-sell products for your company
1. Understand the buying trends
It is important to understand and predict the buying behaviour of customers. Why did this client buy from us? What about your product attracted them? What are the specific demographics that are interested in your products? Finding answers to these questions can help you get insights into the buying trends of your products. You can observe which type of customers buy items in clusters and create a custom grouping of those items.
Using a CRM solution is an excellent strategy to record and analyze the buying behaviour of customers. Crust offers 360-degree overviews on customers and records all relevant customer information, including messaging history that helps sales representatives make informed decisions on cross-selling and up-selling strategies.
2. Target segmented client lists
Dividing clients into specific buyer types can help you focus your promotional resources on customers with high buying rates. Using CRM solutions is the smartest way to go about this because it stores all the contact information of the customers who have already brought from you. This allows you to create expertly targeted lists of existing customers to direct your new products.
Crust’s CRM Suite can assist you in customer segmentation and create lists based on the demographical features, purchase patterns and feedback from the clients.
3. Personalize offers
No one likes to be just another head in a crowd, especially not customers. Studying past data of important clients and using it to conjure tailor-made offers for them is an excellent way to upsell products. It not only increases sales but also makes the customers feel especially cared for.
You can use Crust’s automation features to send out new offers to customers through emails. You can also use the communication channels to keep the clients updated on the arrivals of new stock and discount offers.
Cross-selling and up-selling with Crust: the perfect tool for the aware salesman
The open-source CRM platform by Crust lets you analyse, interpret, predict and tap into consumer behaviour and mindset. By enabling you to maintain an extensive user database, Crust allows you to conjure customized, user-driven sales strategies. Try out the demo of the stellar CRM solution for your sales team before you decide to adopt the holistic system for your business.