Cross-selling is one of the most important elements for any type of e-commerce selling techniques solution. The best example of cross-selling that we see around us is from the McDonald’s restaurant. You must have heard the very popular saying, “would you like to have fries with your burger?” Or “would you like to have a drink with your order?”. This is one of the best examples of how successful cross-selling can be effective and can bring significant revenues.
Cross-selling is an amazing opportunity that anyone can exploit as the customer is in the buying mode and anything that you sell apart from the intended product is a plus and win-win for you. But consumers’ purchasing decisions are greatly impacted by personalization factors. If they’re recognized, offered relevant recommendations, or remembered by businesses, they’re 75% more likely to buy a company’s products again. It is advisable that you should only offer the cross-selling products when your customer is ready to buy a product. If however, you try to sell the customer before he has made a decision, that might confuse him and he might not actually buy the product he intended to buy in the first place. Don’t get carried away with upselling too much or you will crash the customer budget and that might cause him to abandon the shopping process. Make sure cross-selling pitch is relevant to the customer need and that it will add real value to his business. If your qualification process is executed properly, this should fall easily into place. Your cross-selling product should be relevant, useful and offer a lower cost option. Let’s take an example here. If you are selling a mobile phone, it is a good idea to upsell the mobile case or an extra charger cable. These two items are necessary and will add value to customers product requirements. This will help you make extra profit and at the same time, the customer will get products that will complement his initially brought product. As a good practice, if you are cross-selling your products on an e-commerce site, create a resource page for your product which will have all the relevant information about your products and also all the associated products that can be sold as a bundle. This will help your customers to stay longer on your site, browse products more efficiently and make multiple sales at the same time creating revenues for you. Creating resource pages for each and every product is a time-consuming process but is definitely an investment worth spending time.
Amazon Cross Selling Model
Amazon is the best example of cross-selling products one may see. If you are looking to buy a computer monitor, you will see several other options such as bundle products and cross-sell products displayed underneath the main product. Based on your interest in a current item, Amazon suggests other items you might want to buy. Cross-selling is one of the best techniques to generate additional revenues for an e-commerce platform. Cross-selling builds customer loyalty, improves your profit and present customer options to stay longer on your website