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4 steps to supercharge your cross selling efforts


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Selling more products and services to existing customers is easier than acquiring new ones. Here are four basic steps to implement a systematic, customer-centric CRM program that will help you get more out of your cross-selling efforts.

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4 steps to supercharge your cross selling efforts

  1. 1. © 2014 Catalyst May 19, 2014 4 Steps to Supercharge Your Cross-Selling Efforts Marc Solomon, Chief Strategist
  2. 2. Cross-Selling and Upselling is HARD 2 But it’s easier and less expensive to sell more to current customers than acquiring new ones.
  3. 3. The Key: Leverage Customer Knowledge 3 Leverage what you know about your customers by implementing a systematic CRM program that provides genuinely relevant offers.
  4. 4. 4 Basic Steps 4 These four steps will provide a customer-centric framework to help you get more out of your cross-selling efforts.
  5. 5. 1. Know Your Customers 5 Who bought what? When? Use your database. Combine behavioral transaction history with demographics to develop targeted communications.
  6. 6. 2. Identify and Prioritize Offers 6 Work backward from the customers’ needs. Who’s likely to be interested in what? At what point in the life cycle? How do individual customers want to be contacted?
  7. 7. 2. Identify and Prioritize Offers 7 Do they buy online, brick-and-mortar, or both? Don’t focus on what you want to sell. Focus on what they want to buy.
  8. 8. Assess the Customer’s Needs 8 Segmentation analyses group similar customers based on transactional histories and demographics. Use the segments to develop offers. Market basket analyses identify groups of products that are bought together.
  9. 9. Assess the Customer’s Needs 9 Primary research, including focus groups and surveys, gives you a deeper perspective. Direct input from customers or sales reps will spark cross-sell ideas.
  10. 10. 3. Make Personal, Relevant Offers 10 Tailor personalized customer offers. Be consistent across channels. Track customer response with tracking codes and PURLs to see how customers engage with your offers.
  11. 11. 4. Analyze Results 11 With tracking in place, you can understand what’s working. Are customers opening your emails? What are they looking at when they visit your website? What are they buying? Assess results by specific customer groups and types of offers. Optimize based on results.
  12. 12. For more information, contact Marc Solomon, Chief Strategist, Catalyst