Who are your best customers? They are the ones you already have. Your existing customers know and value their relationship with your company, so one of the best uses of your marketing budget is to cross-sell products to them. Cross-selling, or selling a different product or service to the same customer, can be highly profitable because it deepens the customer relationship and gives you a host of additional products to upsell the customer over time.
Here are some tips for the best results.
- Know what they already own (and don’t).
There’s nothing more annoying than shopping online for a new rug, purchasing a rug, and then having ads for rugs continue to pop up in your email and social media feeds for weeks after you’ve already bought one. The same principle holds for direct mail and email marketing. Don’t try to sell your customers products they already have or ancillary products for those they do not. If you track sales history, tap into that. If you don’t, let us help you use data-gathering techniques to learn who your customers are and what products are most relevant to them.
- Get your timing right.
Knowing your customers also means knowing when they are most likely to make specific purchases. For example, one study in the airline industry found that nearly two-thirds of customers were most likely to purchase ancillary products, such as travel insurance or tour guides, at the time they booked a trip rather than sometime afterward (such as during the check-in process or their stay). This information can be beneficial to travel agents, who can then put the most effort into marketing their ancillary services when travelers are most likely to buy. Know the timing of purchases in your product categories and consider that when crafting your campaigns.
- Be consistent across channels.
Not every customer likes to make purchases the same way. One might respond to direct mail. Another might react to email or social media commerce. Regardless of channel, ensure that your cross-sell communications are consistent across all of them. You don’t want one cross-sell to appear in their email inbox and another in their mailbox. In terms of the visual imagery, color palettes, and marketing verbiage, maintain a consistent brand image no matter which channel they use.
Cross-selling is essential for marketers to maximize their marketing budgets and reap the best ROI. Why not let us help you design your next cross-selling campaign?