To grow a successful business, you need to understand and master a few tricks in the book. The arts of ‘upselling’ and ‘cross-selling’ are two of them. Not sure what these babies mean? Let’s paint a picture.
Remember that a customer who sells really nice pieces of jewelry? Ah! Yes, you couldn’t get your eyes off those purple rhinestone studs. Guess what? She noticed it. Thus, she suggested the matching necklace which you also purchased. That is called cross-selling. The big idea behind cross-selling is to understand what your customers value and then, present them with more products that complement those needs.
Now let’s move to upselling…
As a business owner, your primary aim is to make profit, right? Let’s give you a scenario.
A real classy lady walks into your salon asking for a set of bendable hair rollers. You explain to her how outdated and less effective bending rollers are and boom! There appears this really cute and handy little hair tong. You let her know your goods just arrived from the United States last week and you are very certain that no one around here has seen this kind of hair tong before.
Her eyes sparkle! Even though the hair tong costs three times the price of the bending rollers, she buys the product feeling more fulfilled. Can your bending rollers ever? That’s upselling at its prime.
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One great thing about upselling and cross-selling is that a lot of times, your customers are unaware of it. And like sorcery, your sales will always hit the roof and folks will keep wondering how.
There’s no real magic to it, both practices have been around for a long time now and once you can effortlessly shuffle between the two, you’ll start to rake in more profit for your business than the average Joe.
Share your upselling and cross selling stories with us in the comment section below. We’ll be happy to read it!
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