Upselling Strategies

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11 Jun: What’s your digital age competitive advantage?

My answer to that question is that it still lies in the human element, away from algorithms, code, dashboards and data.

Technology has come a long way in the last decade. Its exponential progression has made leaps and bounds in solving business problems across the globe. It’s made businesses leaner, more efficient and armed them with more data than ever before.

Still, every company has access to the same technology, talent, algorithms, media outlets, marketing platforms and prospect lists. So, how do you differentiate? And where can you gain a competitive advantage?

The fact is, people still…

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06 Jun: Five Keys to Cross-Selling Success

Cross-selling success can be one of the keys to organic growth. It can generate sustainable, recurring income, strengthen customer relationships and add value to stakeholders.

But cross-selling can also do immeasurable damage to a business, its relationships and reputation. In my recent post, “Cross-Selling at Cross Purposes,” I looked at how and why cross-selling can go wrong. Here I examine five aspects of cross-selling that I have seen help make it work.

Five focus areas for cross-selling success:

1.    Customer Centricity – It needs to be right for the customer.

2.    Trust – Colleagues need to trust each other to do the…

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18 Jan: How to Use CRM to Increase Upselling and Cross-Selling Opportunities

When it comes to growing revenues, the data all points toward cultivating active client relationships:

It’s 68% more expensive to earn $1 from a new customer than from an existing customer (forEntrepreneurs) 70-95% of sales comes from upsold or cross-sold revenue (forEntrepreneurs) The probability of selling to an existing customer is 200-1,400% higher than selling to a new prospect (Groove)

The data speaks for itself, but how can firms identify those cross-selling and upselling opportunities that should be low hanging fruit? Which clients have the greatest potential to expand their serviceable needs and how can sales and business development accelerate…