Cross-selling: the art of getting more sales from existing customers

It's often said that it's more cost-effective to keep new customers than attract new ones. 

Research indicates that not only does the cost of acquiring a new customer costs five to ten times more, but repeat customers spend, on average, 67% more.

So how do you both keep your customers and get them to buy more? This is the art of cross-selling!

Large brands use a wide range of methods that smaller companies can copy:

• Fast food chains ask, 'Would you like fries with that?'
• Shoe shops share the benefits of their protection spray and polish at the checkout. Similarly, hairdressers have the hair products they've used available to purchase.
• Deals and bundles encourage additional purchases for example: sandwich, crisps and a drink or water filter plus cartridges
• Fashion retailers track the clothes customers have browsed and purchased online and use this to personalise promotional emails for similar and 
• Online sellers such as Amazon give recommendations 'Other people who bought this also bought...'
• Product manufacturers use their packaging to highlight similar products. Neutradol (pictured) is a good example sharing other products designed for use in different situations. Face creams and shampoos often state, 'best results when used with...'

Before doing anything though, know what it is that your customers are already buying from you and identifying 'what else' they could get from you.

I recently worked with an engineering company looking to increase the services sold to their existing customers. The services currently used by customers were mapped and those as yet untapped were used to identify cross-sell opportunities. A plan was then developed which determined what to sell, to whom and the marketing activities that would attract them.

If customers say to you, "I didn't know you did that" then consider how you can improve your cross-selling to you can grow sales from the customer base you already have. 

For help understanding how your company can increase sales from their existing customers through cross-selling, then do contact us for a no-obligation chat with Hannah on +44 (0)1283 808460 or email hello@sookiasmedia.com.