For a sales rep, just closing a sale doesn’t mean that they are done with the job. There is a lot more that sales reps have to know about. Every sales rep knows the importance of cross-selling and upselling right! Closing a new sale is a time taking process whilst selling to the old customer is easy. You would already have an idea about the buying and behavior patterns of the people.

Do you know that the chances of selling to a new customer is 5-20% while the chances of selling to an already existing customer is 60 to 70 percent? Yes, that is how powerful cross-sell and upsell can be.

Although most of you know what cross-selling and upselling mean, let us have a quick rundown to understand the concepts a bit more clearly.

Cross-Sell and Upselling:
Both cross-selling and upselling are going to help a business in making more sales but in different ways. One of these is quite easy while the other can be a bit tougher.

Cross-Sell:
When a customer buys one product, you can cross-sell another product that they can use along with it. Let me make it even simpler for you. If a customer purchased an iPhone 12 from your store, you can suggest they buy AirPods and a case. These both things would work great along with an iPhone right! So, this is called cross-selling.

Now upselling is completely different and a bit tough too. When a customer chooses a particular product, you can ask them to upgrade from it and choose something even better. Again let us discuss the above example, the customer purchased an iPhone 12, six months down the line, and you can contact them asking them to upgrade from iPhone 12 to iPhone 13 which is even better with more features.

You can make this cross-sell and upselling even easier with a CRM. Here’s how

Gather and Segment the Data:
You cannot go to every existing customer and sell your product to them right! This is where a CRM will be able to help you. With CRM, you can have all of the customer data stored at one place.

You can use different parameters to segment your customers. Starting from their demographics to location, there are various parameters that can be used to segment customer data.

With the lead scoring, it becomes quite easy to qualify the leads according to their requirement, You will be able to create buyer personas which will help in understanding their goals and needs.

Understand Customer Journey:
A customer goes through different stages of a sales funnel. Starting from making them aware of your product to your customer advocating it by themselves anywhere. There are a lot of stages and it is important to know where your customer is present in the journey.

You cannot cross-sell or upsell to a customer immediately after they make a purchase, right! You have to wait till they advocate it, be it on social media or in search engine reviews. This means that the customer has already liked your product and is ready to go to the next step. With a CRM it becomes quite easy for you to understand the customer journey and where they are present right now.

Understand From Whom You Need to Stay Away
When you start evaluating your customers in the sales funnel, you will find some who are nothing but a burden to your business. For example, there are some people who purchase or avail a service just to return it after they are done using it.

This has been a common practice lately. Apart from them, there are some others who keep on contacting your customer service whenever they feel like it. It is important to avoid them too.

Wrapping it Up:
When it comes to cross-selling and upselling, you will be needing a reliable CRM tool that can help you in easing these things. If you are looking for such CRM, then Office24by7 should be your go-to option. You can contact us at +91 7097171717 or email us at [email protected].