Cross-selling is one of the most effective ways to increase consumer spending and improve your company’s bottom line. This refers to the practice of offering a second product when a consumer buys something else, and most everyone has come across this practice at one time or another. When you visit the convenience store in the morning to get a cup of coffee and the clerk asks if you want a donut to go with that, they are cross-selling that donut.
Fancy a donut with that cup of coffee?
B2B marketing should be using cross-selling: doing this same thing as the convenience store but with your business customers. When you buy something online and you’re offered another product at a discount as a reward, that’s B2B cross-selling; they’ve given you a second product, even though you’re a business customer and not a consumer.
Consider some vital tips on how to increase your own sales and enhance the experience of your customers with B2B marketing and cross-selling.
Complement the B2B marketing purchase.
This is a cornerstone of cross-selling in of itself; you need to complement a customer’s purchase in order to convince them to buy. Going back to the examples above, it wouldn’t make sense to try to sell a convenience store customer a bottle of water when they come in to buy their coffee, or to point out that you’re having a sale on motor oil as these things do not complement their coffee. However, a donut and coffee go together, which is why they’re partnered in cross-selling.
When choosing B2B cross-selling, you need to find products that complement the purchase of your customer. If you sell commercial auto parts, your cross-selling might include a “buy 3 tyres get one free” deal. If you sell commercial equipment, your cross-selling might include maintenance products for each piece in particular.
Don’t overwhelm your customers with options.
You’re more likely to sell a product with cross-selling when you give your customers a limited number of options and choices, as they can become easily overwhelmed and walk away from a purchase simply because they can’t make a decision. It’s said that human beings become paralysed when they have too many choices, so avoid this in your B2B marketing.
Offering your customers too many options can detract from your own product and from the sale itself, so consider limiting a selection of products to no more than one or two options. This will ensure your customer finds something they can use and will purchase without losing their attention.
Remember that cross-selling is like any other selling; you want to always present products your customers can use and that they will find valuable while at the same time, thinking like your customer. Don’t give them too many choices but just a few that they will find valuable, and you’re sure to have success with your B2B marketing and cross-selling.
Developing B2B marketing strategies for your business requires expertise, which can be provided by B2B marketing consultants at The Lead Agency. Get in touch today to learn more.
