Learn something new every day
More Info... by email
Cross selling involves selling a desired product to a consumer along with an additional product. Also called upselling, this activity allows a company to increase profits due to moving more products and improving customer relations. Cross-selling services can be outside marketing agencies to help increase consumer awareness, consultants who can train employees in cross selling, and getting recommendations from other individuals or businesses on specific products. Companies still need to have the right timing and pricing strategies in order to beat the competition.
Marketing agencies help companies spread messages to consumers about goods and services. These agencies may also have plans for cross-selling services that pair products together in advertisements. External marketing agencies also have specific strategies or knowledge on how to make these plans successful. The use of multiple advertising mediums — such as mailers, websites, or social media — can also help a company engage in proper cross selling. Companies may have to interview many marketing agencies in order to find one that works best for the business.
Consultants are another option for cross-selling services. Many consultants work in markets and help companies learn new techniques and improve both operations and profits. A consultant may also be able to come into the company and train employees. Employees typically represent the direct link between the company and its customers. Without proper training, these employees may be unable to cross sell or upsell products to consumers.
Recommendations from other individuals and businesses can also help a company in terms of cross-selling services. For example, getting a professional — such as a doctor or other expert — to provide a recommendation for a group of products can help a company cross sell. This strategy can work well if a company has a range of products. The company can advertise the entire product range with the expert recommendation, increasing sales. Products recommended by professionals may need to have specific angles in terms or quality or use.
Cross-selling services are just one part of this entire process. A company must still have the right timing when selling goods or services in the market. For example, offering large cars may not be wise if the market is trending to smaller, sleek vehicles. The same goes for pricing of these vehicles. New cars with multiple features may not sell if customers believe the vehicle is overpriced.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!