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The Value of Cross-Selling and Up-Selling

When making an order confirmation call or welcome call, there are two marketing strategies that come in handy while trying to clinch that sale, especially useful when dealing with an already existing customer base.

Cross-selling is defined by the action or practice of selling new products or services to an existing clientele. It is one sales approach that aims to convince customers by providing them with the necessary information regarding the new product. According to leading market sources, the objectives of cross-selling are two-fold. It can either aim to increase income from the customer or to protect the relationship between the client and the company. Such a proactive strategy intends to improve marketing and sales for the business.

Still, it is not without some potential risks. There is a possibility that the existing relationship with the client may discontinue. So it is essential that the additional product or service that is introduced improves the value that the client will receive from the organization.

Another sales approach is up-selling, which means suggesting additional options to the client that might not have been introduced before. It is actually an attempt to sell product add-ons or upgrades as to further increase sales.

One technique that will help up-selling is to research the customer being targeted. Their budget and lifestyle are important factors to consider in an order to make a better sale. This way, you have a better notion of the needs of the person you are selling to.

Another way is to create awareness over the durability of the product. This is where add-ons such as extended warranty and extra services come in. It offers peace of mind and more satisfaction for the customer.

With marketing strategies such as these, your business will receive both higher value sale and customer satisfaction.

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