by: John Boe
Progressive companies understand the power of cross-selling and recognize it as a critical component for promoting both customer retention and revenue growth. What is cross-selling? Cross-selling is nothing more than team-selling with other specialists within your company, all working in partnership on behalf of the customer’s best interest. It is a proactive, ongoing sales process designed to provide your existing customers with a full range of your company’s products and services. The good news is, cross-selling is one of the most profitable and least risky endeavors a company can undertake. The bad news is, if your cross-selling program is not properly administered and monitored you run the risk of losing customers and creating conflict within your sales team.
Not surprisingly, two of the key elements that make cross-selling work are trust and convenience. Your customers already possess a degree of trust in your company, and this can be converted into additional sales that are not directly related to their existing products. Some might suggest that customers are irritated by cross-selling and perceive it as an aggressive sales approach. Interestingly enough, consumer research indicates that the reverse is actually true. Most customers prefer a full spectrum of products and services and appreciate the convenience that is provided through a comprehensive cross-selling approach.