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Raise Your Revenue with Cross-Selling


Raise Your Revenue with Cross-Selling

Jun 01, 2022

Tony DiBernardo

Richard Clews founded a company called Pant’s and Socks, a company which sells… well you know, wanted to encourage customers who bought one product, to buy the other. So, he encouraged buyers to buy matching pants and socks and within 6 weeks, he saw a 12% revenue spike. And still, the company sees about 8–12 percent in new sales from cross-selling tactics like emails, subscription upsells, and product page suggestions.

Cross-selling is a simple concept, but getting it right requires strategy and care, so you recommend the right products in the right way. Here’s how to get started.

But first, What is cross-selling?
Cross-selling is a sales technique in which a customer looks at one item, and a retailer recommends other products that complement or are related to it. Cross-selling can happen in person (as in “do you want fries with that”) or online, and This isn’t a new strategy — Amazon has been cross-selling for years with its “people also bought” displays on product pages. But many small and mid-sized businesses don’t have cross-selling techniques in place, which means they’re leaving money on the table.

So, If you’re just starting out with cross-selling, here are some basic rules to follow so that you can get the best value out of your efforts.
First, Follow the data
Examine your post-purchase data to determine the best cross-selling options for your site. Look for patterns in customer behavior. Did someone buy an item and then come back later to get a related item? That could be a good cross-sell opportunity to display on both product pages.

Once you see patterns, you can analyze that data and create user profiles based on those patterns. Do people with a cart value of $100 or greater seem more inclined to purchase higher-ticket items? Or do they buy items on clearance? Then, Target them with a relevant popup. After you have your user profiles in place, you can use an interface like Privy’s to set up your cross-selling popups to provide your customers with the items you predict they’ll buy.

Second, Try multiple forms of cross-selling. At Pants & Socks, the company found that three different types of cross-selling worked: Emails: So, When customers purchase socks, the company sends a promo for matching pants. And when a customer buys pants, they’re sent an email to buy socks.

The Product Page, where The company displays coordinating socks on pant pages, and vice versa.

Lastly, Subscription Upsells: or When a customer subscribes to a recurring socks or pants package, they receive a message to get the other kind as well.

Not every strategy will work for every company. For instance, At Surf Gear Lab, the company cross-sells at pre-checkout and during checkout. At pre-checkout, it shows the customer three to four products related to what they’re buying. Then, at checkout, it displays a popup with one related product. And for Surf lab, those increased their monthly revenue by 28%

Now, third and most importantly, Only show items that your customer will value

Promoting irrelevant products can drive a customer away. People who purchase a skateboard should be shown pads and a helmet, not cookware or electronics. .

In the same vein, you also want to ensure you’re not making too many cross-selling suggestions. Overwhelming your customer with suggestions isn’t prioritizing their experience.

So, do the research, figure out what your customers are buying and how they're buying it. Then, use a tool like Privy to send perfectly timed cross-sell popups and and emails.

To learn more about how to grow your business fast, check out our new Free learning platform, Masterclass plus, filled with free courses to take your business to the next level in conversion, influencer marketing, best practices with more being added every month.. You can get access for free using the link below. See you there!

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