Cross-selling is a way to get customers to spend more by purchasing complementary products or services. Extracting more value from existing customers allows you to get a bigger return without really increasing your investment. After all, you’ve already invested the money and effort to get the customer this far—taking things a step further with cross-selling is just the natural progression.
You can’t just go out there and start randomly suggesting that every customer buy more items or pay for more services. You’ve got to give them a good reason to do so. Some cross-sells are obvious. When you buy a new phone, for example, you’re likely going to also pick up a new case and a charger. The retailer’s job is to try to get you to buy additional accessories and upgraded versions of standard items.
This is just one example, but it’s a good one because we all know it well. The concept of cross-selling alone is designed to increase customer lifetime value, but how can you actually use cross-sells to drive value and lifetime engagement?
Here are nine great ideas.
Cross-selling allows you to find additional pain points that you can resolve for your customers and deliver a better experience. You might not even be aware of these concerns or issues at first glance, but over time, you can glean a lot of valuable data to help you discover them. Once you do, you can cross-sell to your audience and show them that you’re paying attention.
Identifying more pain points could also re-inspire your marketing campaigns and drive new sales efforts.
When you use cross-selling to engage customers and not just increase the dollar amount of their business, you can show them that you care about their needs. You are taking the time to find all the solutions that could help them and deliver as much as you can, so they don’t have to go elsewhere. This drives engagement and loyalty in ways you never imagined possible.
Today’s customers want a highly personalized shopping experience, no matter what types of products or services they’re in the market for. It’s up to you to deliver that. With cross-selling, you can collect and utilize customer data to deliver better products and personalized solutions. The attention to detail and personal touch will ensure that customers stick around for a lifetime.
You can use cross-sales and add-ons to deliver support after the purchase. For example, if someone bought a TV but they didn’t think they wanted to mount it, you can suggest a flexible, easy-to-install mount that might change their mind. You can sell these at the point of purchase, too, but there are plenty of times when people need additional products after they’ve already bought something.
All this will also make it easier for you to anticipate the future needs of your customers. You can come up with better add-ons and cross-selling ideas for the future. You can also give people the chance to cross-sell themselves by having a full selection of “suggested items” ready and waiting on your various sales pages. Being able to anticipate customer needs is essential to developing a lifetime customer base.
Bundling is a great way to cross-sell and increase customer lifetime value. You can package services or products that people often use together and offer a discount or a simpler transaction. You can even allow people to create their own bundles and discount packages once they spend a certain amount or offer custom packages for every single client so that every solution is a personalized one.
Cross-selling isn’t just about the customer. They will buy for themselves, of course, but eventually, they may run out of need. One way to continue to drive lifetime value is to cross-sell gift ideas or suggested purchases for others to inspire them to share the wealth. This will allow you to reach new audiences as recipients get their gifts, too, helping you build your brand awareness at the same time.
If you have personalized email campaigns for your customers, this is a great way to get their attention. You can create cross-selling emails that point out additional products and services that people may benefit from. You can even offer use cases and insight on how they can benefit so that they’re more inclined to consider converting. Make sure that you use personalized product recommendations and a personalized CTA to get their attention.
This is a great way to engage your audience and increase customer lifetime value at once. You can take advantage of social media for a lot of things. In this case, satisfied customers are already going to be sharing with others. Take the time to see what people are sharing. Find out if they’re combining it with other items or how it’s being recommended.
Social media can help your business cross-sell without actually lifting a finger. This not only increases CLV, but it can drive engagement and create a more connected customer base, as well.
Once you’ve mastered the art of cross-selling, you’re going to see an uptick in customers and leads. That means you’ll need a little extra support. Partner with the virtual receptionists at Smith.ai for a 24/7 answering service that ensures you never miss an opportunity. We can also assist with lead intake and appointment scheduling, and even support your outreach campaigns to generate leads in the first place.