Boost Profits Part 2: Product Cross Selling.

In the last post I talked about selling more to existing customers, and how it’s far more profitable than pursuing new ones.

I focused on services mainly, so next up here’s some advice for anyone who sells products. For the purpose of this post, I’m looking at online sales; I’ll cover offline sales next month.

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When you buy from well-known retailers online, you’ll be cross-sold to in a variety of ways. When you view a particular product, you’ll see suggestions as to accessories or complementary products. For example if you’re looking at a pair of shoes, you’ll be shown a matching bag and belt. If you’re viewing a camera, you might see a memory card, a case or a tripod. For you as the customer this is a wonderful convenience. For the retailer, this is a fantastic opportunity to increase the value of a single sale. The same customer in the same transaction has just bought a whole lot more, bingo!

If you are selling products online, make sure your ecommerce website is geared to cross selling like this and that you take time to carefully match the right products to really boost your chances of increasing the value of each sale.

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Another way in which retailers grab our attention and encourage us to buy more is through follow-up email messages. How many times have you received an order confirmation by email once you’ve checked out that says something along the lines of, “Thank you for your order. We thought you might like to know that other people who bought xxxx also bought xxx”? Followed by a limited period special offer to help push you to take immediate action? It’s very effective, so consider making the most of your order confirmation auto responders by adding product suggestions and offers.

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And finally, sending regular emails and newsletters that contain specifically targeted material can be very lucrative. Taking time to tailor an email-shot can really boost the results. If you include links to products that complement or go hand in hand with products they’ve bought previously, or match the style of what they usually buy, it’s more likely you’ll get a positive reaction. Instead of throwing out scatter gun emails and newsletters, put the intelligence provided by your ecommerce system to good use!

About the author:

The Yellow Duck Team

At Yellow Duck, we do what we love. For the last 6 years, we start every day with a very simple goal. To talk with each of our clients to discover what they need, to use our experience to find the solution that is right for them and to always improve and innovate in the process.