Mar 5, 2019
How do you cross-sell? How can be of benefit to a business? And what options do we have when implementing this type of strategy. If you don't know we’ll be chatting about it later.
But first, let's chat to Nicole Osborne, the founder of Lollipop Social a company that provides social media management, consultancy, coaching, strategic development and advertising strategies. Nicole is also a proud Chartered Marketer, studying and achieving this status via the CIM.
- What do you want to be known for?
This is where your social content should be focused. Yes, from a holistic view your content needs to be varied, but the overall objective and underlying themes should always be consistent be it looking to sell cars or cans of soup!
- Nicole’s formula for creating an excellent social strategy follows 9 key steps, I’ve narrowed these down into 7 stages which are:
Nicole refers to this as the Test, Measure, Reflect and Refine model and it works for me.
- And finally, lets bring it back to your studies with a study buddy, which we’ve spoken about in the past on episode 28, but what Nicole highlighted was the fact that a study buddy provides accountability, giving you motivation and encouragement with your CIM Qualifications. So go get one!
There are many different ways we can cross-sell before, during and after a purchase or decision has been made by a customer. But what is it?
Cross-selling is the action of selling more than was originally anticipated to an existing customer.
There are loads of great examples but I like to think Amazon do this best, attributing around 35% of all sales to the “customers who bought this item also bought” and “frequently bought together” options.
Other examples range from a car sale including additional features to a fast food outlet asking if you want extra fries with your meal.
What are the benefits of this? Well, there is the obvious of the increased revenue from a customer who is already buying from you. But other benefits such as the introduction of a new / unknown product or service to a customer could extend the customer life cycle or selling existing stock so that you can replace it with newer items. These items should always be linked in some way and offer a benefit to the customer unless there is a danger of isolating them and potentially losing their customer all together.
Happy Marketing Everyone!
Music Featured on this Podcast:
Sleepy in the Garden
Lobo Loco www.musikbrause.de
Creative Commons License
Steal the Show – Michael Port: https://amzn.to/2VtObEe
Pomodoro Technique: https://francescocirillo.com/pages/pomodoro-technique