Upselling and cross - selling are two terms that have been on the rise for years in the world of sales, both B2C and B2B. These are two marketing techniques that have become key to increasing sales profits, and especially to being successful in virtual environments, but also in face-to-face sales.
Features of upselling and cross-selling
Upselling
We can understand upselling as a strategy that seeks to get the customer to purchase a product with a higher price than the one they were going to buy initially. That is, a greater benefit is achieved by getting the user to buy a product with a higher value, or the same product, but with improvements .
A very common case of upselling is seen in the sale of mobile india whatsapp data phones. When the user decides on a phone with 64GB of RAM, they are offered, for a higher price, an increase to 128GB or 264GB.
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On the other hand, if when the buyer already has the phone in his cart - physical or virtual - he is convinced to buy a case, a screen protector and/or a charger, we are talking about another strategy: cross -selling .
Cross-selling
Cross -selling is a strategy that consists of making an additional sale of complementary products based on the product that the customer is going to purchase or has already purchased in the past.
The particularity of cross-selling is that it is not simply about selling multiple products at once, but rather offering the buyer something that may really interest them to complement their purchase and thus achieve, apart from greater benefits, a satisfactory customer experience.
We give you an example:
To understand these two concepts with an example, imagine that you go to a fast food establishment. You want to buy the medium menu, but you see that “ you can get a large one for just €1 more ”; this would be an upselling strategy . On the other hand, the restaurant may offer you “ to add an ice cream to the menu for just €1 more ”; in this case it would be cross-selling .
The importance of the moment
As we have seen with the examples of mobile phones and fast food, when it comes to upselling and cross-selling the key is timing .
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It is about making a valuable offer to the customer, which may really interest them, when they are already convinced to buy a product . In virtual sales, the store can be configured so that the strategy is applied when the buyer is going to add the product to the cart or when they have already done so.
In this sense, changing to a more feature-rich version of the product or adding related products should be an extremely simple process for the customer. Ideally, the option should be just one click away , either for the e-commerce buyer or for the salesperson in face-to-face or remote interactions.
Advantages of these strategies
As you can imagine, upselling and cross-selling have broad advantages for a company's sales, starting, of course, with selling more . But the benefits go further.
The good thing about these strategies is that they allow us to boost the sale of those products or services that we are most interested in selling and that are more profitable. It should be added that the objective is also to exceed the buyer's initial expectations and also to keep the selling company or store in mind for future occasions.