Your Online Business Revenue : Upselling And Cross Selling

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A How-to on Upselling/Cross-Selling: 5 Tips to Improve Your Online Business Revenue

Whether or not you’ve ever done direct sales, you probably are already familiar with two fundamental sales strategies: upselling and cross-selling. You may not know that you are familiar with these concepts – but as a consumer today, you have definitely been exposed to them. You might also be somewhat aware of the two terms, but maybe you don’t exactly know what they mean – or maybe you’re confused about the differences between the two.

Here is a brief description of each term, plus a few examples of both:

Upselling is a technique used to persuade the customer to buy a better version of the products or services about to be purchased.

Cross-selling is a …show more content…

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If you listen to what your customers are telling you and then apply the strategy of upselling/cross-selling accordingly, you could provide them with solutions that make them happy. Often, people don’t even realize they need certain products or services – until you point it out to them. It’s a win-win situation for you and your customers.

Another advantage of upselling/cross-selling is that it’s easier to do than to sell to an entirely new customer. When you are marketing to a new lead, the probability of closing that deal is five to 20 percent. When you’re selling to an existing client, that percentage shoots up to 60 to 70 percent. So upselling/cross-selling is really a more efficient way to sell.

Here are my top tips for upselling and cross-selling like a pro:

Tip #1: Use the Technique in Moderation

You’ll want to maintain the trust of your customers, and you can’t do that if you make them feel overwhelmed by the upsells/cross-sells. Too many choices will confuse your customers, and that could backfire on you. You could cause your customers to become suspicious and resentful if you throw too many options at them – and they might just give up on the idea of buying anything at all from you. Keep the options simple and straightforward.

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