E-commerce players always want to find THE solution that will improve considerably their sales performances. Many strategies are currently used online, but have you ever tried to launch a cross-selling strategy?
In this article, you will find the main key points to be aware of how it works and how to implement it. Pure players always want to improve their online sales to reach more market share and take over the competition. For that, they try to implement cross selling into their main strategy. But what is concretely cross-selling?
The cross-selling can be defined as “a strategy that suggest complementary items which will fit with the one you just bought during your purchase. This king of process tends to improve your revenue thanks to an increase of your client’s average basket.” So, you will understand that cross selling is obviously about increasing your sales performances through an item that provide an added value to the product you just purchased.
Moreover, you may know that cross selling can be use through different way but will always be associated to e-marketing and e-merchandising. Indeed, e-marketing tools will analyze your purchased habits and will be able to suggest you relevant items which fit with your product. And e-merchandising will help the company to match those complementary products in the order pipe during your purchase. It is also possible to suggest added value product to your client by e-mail thanks to retargeting methods.
For example, you are French, and you want to go to Brussels for the week-end. You book the hotel you want, and the website will suggest you to rent a car as well, to make your trip more convenient. As a buyer, you will be sensitive to this kind of offer because you don’t want to be dependent to train schedules or even train rates that can be very expensive.
Other solutions can be implemented and correlated to cross-selling. Indeed, pure players tend to promote cross selling to bring added value to their product but some of them try up-selling and down-selling strategy.
Up-selling is usually used in e-commerce to not only bring added value, but also to suggest an alternative product that is more expensive but with a higher quality. We can take the example of flight ticket, the client buys a second-class ticket, but the company will tell him during his purchase, “if you had only 80 euros more you will be upgrade to First class”. Companies do that to improve their margin and sell product/service they didn’t sell yet, knowing that the flight is quite soon.
On the contrary, the down-selling is to suggest a product with a lower price to your client. Ian Brodie coach and consultant in marketing and sales talks about down-selling: “The advantage of a downsell is that even if a customer doesn’t buy the product you’d ideally like them to buy, they are at least buying something. That means you get some return for your sales effort. And since they’re now a customer they will hopefully have a good experience with you and be much more likely to buy higher priced items in the future.”
This solution is less used because of its low-income generation but still relevant to attract customers. To illustrate my words, you can find a simple explication about down-selling; cross-selling and up-selling strategy.Now that you are holding the aces of e-commerce cross selling strategy, you need to know how to launch it.
Targeting will be the key of your project. In fact, all your strategy will be successful if you can target your client at the right time. For that, your marketing segmentation must be flawless and your capability to use new techs like machine learning will considerably help you in your process.
Finally, to stack all the odds in your favor, some tools are available on e-commerce hosts website as Shopify that help you to create your shop online. The interface allows you to add some features “plugins” to implement cross-selling. There are also, Boxia, OASIS E-commerce and Powerboutique that help you to set up your automation marketing strategy to increase your online sales performances with a CRM integrated.