Upselling and Cross-selling products are proven to be one of the best revenue booster marketing strategies for eCommerce merchants recently. Through systematic upselling and cross-selling programs, an art of sales strategy, by suggesting to your customers similar or better goods according to their needs and what they are interested in at present, bring the best shopping experience for customers and also bring in revenue booster for business owners.
As an online business owner, do you know the top strategies of upselling and cross-selling to attract more customers and increase your revenue? Scroll down and check it out!
What is Upselling?
Upselling is an act of convincing a buyer to purchase a more costly commodity or upgrade a product making the transaction more lucrative between sellers and customers.
To make it clear, you’re probably familiar with the tricks fast food stores commonly use when asking customers “Do you want fries with that?”-this is the perfect example of upselling.
Take the probability of rising and encouraging repeat sales, brand loyalty, and advocacy. Take Shopify as an example, one of the top eCommerce platforms, helping merchants to optimize not only the way of using but also a tool of revenue booster for their stores.
What is Cross-selling?
Cross-selling is to upsell a close relative. In short, instead of recommending an update, you are offering a product or service that will go well with the original purchase.
For example, Jo visits a fashion store to buy a $150 dress but ends up buying the dress plus a trendy shoe, as the latter was sold as a complementary product and at a lower price.
Why are Cross-selling and Up-selling Techniques essential for your business?
Increase store’s online revenue
Increase Average Order Value (AOV)
Provide simplicity and versatility
Balance the partnership between new and current customers
Improve customer service
Sell an unwanted and undesired product
Improve customer retention
Assist, earn trust from loyal customers
Revenue booster tool
How to Boost Your eCommerce Store Revenue with Upselling and Cross-Selling?
Recommend premium products
Understand the principles of your clients, and use them for your benefit. Will your customers pay extra for items that are manufactured in the US, China while buying apparel? If so, make sure that certain items are upselling. Collect information about each of your clients, such as their names, history of transactions and likes and dislikes through Email. Having a program in place, such as software for Customer Relationship Management (CRM), will help you keep track of sensitive client details.
When upselling, make sure your customers can easily tell the difference between regular products (e.g. Basic Kitchen Table) and your premium (e.g. Premium Kitchen Table) offering. Show those differences in names, descriptions, and photos of the products.
Suggest through purchasing cart
Use the purchasing cart button showing up when a user is about to checkout, you can practice upselling or cross-selling items. The idea behind this is to promote an item now that the shopper is willing to divide with its money.
Psychologically, the consumer is still in an investment mode and more open to better or additional choices for analysis.
The example above from an online cosmetics store gives the perfect picture of how a smart recommendation system can be set up in a purchasing cart.
The customer sees a message that they will get free shipping by buying additional goods worth $23 and the cross-sell products on the right side of the screen give the customer choices on how to reach the free shipping threshold.
Offer package deals
Listing package deals is one of the strategies which allows you to simultaneously cross-sell and up-sell goods.
Our case study includes the Shopify checkout page, where the customer’s preference is loaded into a mini cart after choosing a five-star product, which shows other deals on larger item sizes. We also find discounted items below the cart which are possibly more costly than the initial option but bring more revenue booster to the website owner.
Run special offers
Whether you are using a print-on-demand service or warehousing your goods, small drops of items can be provided. Through nature, they’re exclusive and thrive on the fear of losing out on your customers.
There are also limited-time deals. They raise the sense of urgency and make visitors to the store see the product as a unique object. Such sales are a perfect way to make sure you get your customers back to your shop for fresh promotions.
What Are The Precautions you Should Take When Using Cross-selling And Upselling Strategy?
Avoid offering too much
When you’re expected to do upselling and cross-selling, stop overwhelming customers with bids. This is cruel to everyone. If given too many choices, a customer is also likely to give up and click away. Instead, provide a few relevant and appealing offers that are more likely to get chosen.
Offer the right products
It would be a big mistake and self-undermine your eCommerce store when upselling and cross-selling your customers the products which are not relevant to their primary purchase.
When you are using a Recommended Item plugin or extension for your eCommerce shop, then you must be careful to manually fit product categories, instead of relying on the extension’s automatic choices.
This way, when checking out, you minimize the chance of shoppers seeing an unwanted upselling or cross-selling product.
Here, we offer you one of the best cross-sell applications, the best revenue booster choice for merchants to help you offer the right to recommend items or extended ones.
When automating these measures with the right add-on to your website the hard work will be done for you, and with less effort, you will be able to make even more sales.
Above are top strategies to upsell and cross-sell your products, if you find it compelling, see more at our blog: Autoketing.