One of the ways to improve sales on your e-commerce website is through the art of upselling and cross selling.
A top ecommerce designer can leverage your website for greater sales through upselling and cross selling strategies. Upselling helps your business maximize sales with every purchase. Cross selling plants the seed in customers to purchase similar or complementary items. When done properly, up-selling and cross selling on your e-commerce website can add value to your customers experience with your online business. It will also increase revenue without costing you extra money in other marketing channels.
What is Upselling?
Upselling encourages customers to buy a product of yours that is high end if they’re in the midst of looking at a cheaper product. It is a technique that will gently convince your customers to go for the better product. It might be an upgrade or a premium version of the product or service. For strategies like this, it’s recommend that you run Magento and hire a Magento website designer.
Upselling Feeds on Value for Money Spent
With upselling, there might be comparison charts to illustrate the value of the higher priced item. It could be a program you’re selling. One is free or at low cost but the tick marks beside those items are also low. Then you show how much someone will gain (with tick marks beside) if they choose the higher priced item. An experienced E-commerce Designer who excels at upselling will help customers comprehend the value of an item that costs more.
What is Cross Selling?
Cross selling helps your customers see what complementary items they may need that aren’t fulfilled with their original item. In this way, your cross selling marketing strategies will seem like a helpful way for them to get what they need from you. When done properly, you give customers a great experience while putting more items in front of them to purchase. If you’re running your site from WordPress, Woocommerce designers can help you set up the best cross selling practices for maximum effect.
For example, if you’re selling shaving products for men and someone is putting a razor in their cart, you can recommend an after shave that prevents razor burn. Many of the time, you’re pointing out products that the consumer would look to purchase anyway. You are just perpetuating their need by showing it to them at the right time. This helps you get more items in the cart before they officially check out. The opportunity is to make more money on every sale.
Cross Selling Effectiveness
Cross selling is used in every kind of industry. The next time you walk into you bank, notice the signage they have up. You’re walked into the bank for something totally different but there is a suggestion that comes to mind. Maybe another credit card with better rewards. Life insurance will be suggested when you are buying car insurance.
The main use of cross selling in e-commerce will be on product pages at the checkout process. The best e-commerce company will use this strategy over and over. The right wording at the right time. That’s what makes it so powerful. Life-cycle campaigns will be another way in which cross selling is utilized. It helps in creating repeat purchases and showcasing the depth of the catalog of products or services you offer. Not only do you gain more sales but you satisfy your customer’s needs.
Not just one method should be used on your website. Woocommerce designers as well as a Magento website designer will incorporate cross selling and upselling. They are similar and interchangeable in obtaining greater customer appreciation and getting more money per transaction. It all comes down to adding value to your customer’s experience.
Both methods will give your customers information they are looking for. They get to have product options offered to them without going looking for it. Think about Amazon or eBay. It is so easy to see what products are available and that makes you want to buy. By knowing what your customers most value and then giving them those things, you are meeting their needs.
The Difference Between Upselling and Cross Selling
While an upsell is getting the customer to spend more through a purchase of a higher priced product, cross selling gets the customer to spend more money by buying more things. We can use the example of a 4GB iPod Nano. It costs $169. An upsell would be the 8 GB iPod Nano for $229. Yes, it costs more but that extra 4 GB will probably come in handy. Now the upsell for this would be the Apple In-Ear Headphones with Remote and Mic for $79 would be the cross sell.
Creating Better Relationships with Your Customers
When you have upselling and cross selling incorporated into your website, you can create deeper relationships with the people that buy from you. The tactics are not manipulative or dirty. They are helping the customers through mere suggestion that premium, upgrades or a better product will improve their life. In the end, they will often feel as though they got better value for their dollar. For the customer that you’ve already built trust with, they will come back and make greater purchases.
It’s far easier to optimize your sales to current customers. Statistically, the likelihood of selling to your existing customers is up to 70% more than that of a prospective customer. The probability of selling to someone new is up to 20%. Upselling has the ability to increase your customer lifetime value.
To best optimize your revenue on your site, get the best e-commerce company you can find in to the Toronto region. Get them to incorporate both techniques into your website. The site then speaks to customers during every shopping and check out process. It’s automatic and highly effective. Before the purchase there can be a recommendations area at the bottom of the product page. During purchase, there can be pop-ups in the shopping cart. After the purchase, a follow up email can be sent to get customers to come back and buy again. This system is highly personal, effective and should be incorporated into every e-commerce site.