Cross-selling refers to the process of selling a customer additional products or services on top of their initial requirement. This can look different across business sectors, but should always enhance value, be that monitory, time-savings, increased productivity or ease of contract management.
Here are 5 cross-sell benefits every aspiring salesperson should know…
1. Builds customer loyalty
Cross-selling opportunities should help a customer solve a problem… that in turn builds trust and loyalty. It tells them that you understand their business and have access to products that can tackle multiple issues… why would they go elsewhere if all the solutions they need are in one place?
2. Improves profitability
Most cross-sales involve some kind of discount, which might mean a loss for the service provider. But a small win is better than no win, and a good value proposition, and loyalty programme, should open doors for opportunities to tender for additional services.
3. Differentiates you from the competition
If your proposition has value, if it’s backed up by data, case studies and evidence, you’ll add to the customer loyalty (there’s that word again). Your personal selling advantage separates you from competitors who don’t have the benefit of a multiservice offering.
4. Strengthens customer partnerships
If you are considering ways to improve the customer’s operation outside the service level agreement then they will recognise partnership sustainability. As long as you don’t become overly pushy, cross-selling will strengthen your relationship and show that you care about the client’s ongoing success.
5. Develop more leads
If you have loyal customers who feel cared for, they will likely recommend your services… referrals are the best type of lead. Ensuring that the client understands your capabilities will make you their first port of call when service opportunities arise.