How to Increase Sales from Existing Customers
One successful technique to increase sales to sell more to your existing customers and for this there are many methods like cross-selling, bundling of products etc. Cross-selling is an art of selling more to the customers who have already purchased some of your products. It is a way of persuading your existing customers to buy additional products from you. To achieve this you have to convince them that the products you are bundling together for cross-selling will help them use the products together and can give more benefits when done so.
When you are attempting to increase sales through cross-selling you have to be careful in selecting the right combination of the products and it can be a bundle of products or services or both that is capable of increasing their utility to the users when used in a combo. When you have a responsive and loyal list of customers who trust you and would like to listen whatever you say, then you can increase your sales by many folds by cross-selling the right combination of your products to this group of buyers.
While designing the marketing campaign for cross-selling it is essential that you have to be very careful and let them know how one product you sell complements the other and how the usefulness of one will be enhanced when both the products are used together. Cross-selling to increase sales can be done in many ways depending on the customer’s motivation and this is vital for you to decide the approach you have to take.
One of the most common of cross-selling marketing is by bundling products and this is done by most of the online companies. They motivate their customers who have purchased a product from their stores by offering fabulous discounts when they buy some other related products bundled together. Thus, the customers who accept this offer get more benefits from the products bundled together and for the merchant they are able to increase sales by making them to buy more products when they opt to buy one. By suitably offering products together the seller can increase sales many times using this technique of cross-selling. The seller can sell more by making the customers feel that they are getting the best possible deal while buying the products bundled together.
If you are selling services and have the capability to combine more of them together your customers would love to catch all the offers they are getting from you. This is true in case of services like insurance and here you can combine many types of insurance and related services together as they will be happy if someone is there to take care of all the details and help them get the best of deals. In this way, you can easily increase the sale of health, life, auto, and home insurance if you combine them together.
Likewise, you can also increase sales by cross-selling the services along with the products that are needed for the services. This way it will be easy to find a good response to the offers that combine both the services and products as a bundled cross- sales offer. However, a word of caution is that the products you’re trying to cross-sell must be of very good quality and if one of them is not good it will adversely affect the sale of all and may require you to do a lot of damage control.
Go to https://calendly.com/pierrecoombes to book a free Telemarketing / Business Development consultancy with our Managing Director, Sales & Marketing expert Pierre Coombes.