Effective cross-selling also requires a multi-faceted approach that steers clear of common behavioral assumptions. One common assumption is that the depth of a customer’s loyalty is highly correlated with the number of products or services that have been sold to them. There are actually many other critical factors to consider, such as the customer’s need for the specific product you are selling.
Many companies do track a customer’s level of satisfaction with a particular product or service and also monitor the perceived value and utilization of the offering. However, companies must also, and as accurately as possible, rethink what incremental products and services they are selling to their customers. They should also consider how the products and services are being sold, and how the selling campaigns will mostly likely impact customer loyalty and financial results.
Customer Chemistry helps companies optimize their cross-sell and up-sell results by thoroughly analyzing combinations of variables including customer need, product match, channel relevance, and behavioral propensity.
For more information about DHSoft’s Customer Chemistry, Cross-Selling & Up-Selling, click here.