Making a sale is one thing and finding ways to increase your sales is another thing. This is where upselling and cross-selling comes in. These top sales techniques can help to drive more sales from already converted customers. That's because existing customers are more likely to buy than a new prospect. Studies show that you can make sales at 60-70% for existing customers and 5-20% for new prospects. To understand how you can use upselling and cross-selling to improve sales, you must first understand what these two terms mean. 

What is upselling and cross-selling?

The term upsell means to make a customer purchase a more expensive version of something he or she has already purchased from you or is planning to purchase. It could be a premium membership, a product made with high-quality materials, a larger scale of work, etc. 

Cross-selling, on the other hand, means to make a customer buy a product or service on top of what he or she has already purchased or wants to purchase. It could be complementary products or service add-ons.

These two techniques are more likely to work because you have already established a solid relationship with your customers, and that means they trust you and will buy into your recommendations. 

Tips for effective upselling and cross-selling

1. Keep it simple

Since your customers have already made a purchase from your company, you wouldn't want to bombard them with a wide variety of product suggestions. Offering too many products and services at once can confuse and dilute the customer's attention. That's why your salespersons should limit their upselling and cross-selling efforts to only a few items that really work and will get the best results. 

2. Offer relevant upsells and cross-sells

When you offer upsells or cross-sells that do not make sense to the customer, they will not only feel frustrated but it could also ruin their relationship with your company. That's why you need to pay attention to the needs of the customer when he or she discusses them with you so that you can offer a suggestion that suits their exact needs.  Listen to their needs and desires, then determine which of your products or services could considerably solve their problems, and offer an upsell or cross-sell. 

3. Be honest

If your customers feel that something is not quite right, they may run off. The more honest and transparent you are during the purchase process in finding the right fit, the more likely your customers will stay around and become loyal to your company. You must also be transparent when it comes to pricing and contracts. This will make the customers purchase your upsell or cross-sell. 

4. Demonstrate value

Your work doesn't stop when you have determined that the product or service you are offering makes sense for the customer, you have to demonstrate to your customer how the additional product will add value for them. You can use testimonials or positive customer feedback to show your customers how they can use this upsell or cross-sell offer to achieve their goals. You should ensure that the customer clearly understands the value of the product or service you are pitching so that they decide on their own, without being coerced into purchasing the upsell or cross-sell.