Cross Selling Best Practices
Cross sellers can make additional solutions available to purchasers. It’s such an ideal opportunity to add value to your sales, and company. So, why don’t more companies do it?
In the buying process, the best time to introduce a solution or product for the cross sell is between implementation of what has just been sold, and the value measurement stage, at the end of the buying process.
The question posed by Blakeman to companies was, “do your customers understand the full breadth of your capabilities?” And the results:
Only 34% of top-performing sales organizations report that their customers understand the full breadth of their capabilities
Only 22% of all other organizations make the same claim
The opportunities here are astounding! And all it would take is a little extra communication to accomplish so much.
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He shows us a great slide, the predictability analysis model illustrated below. The easiest sell is the top left square. You should be leveraging this low hanging fruit to maximize revenue. Your Existing Client will be far more likely to buy your Proven Product.
What is the number one reason people don’t cross-sell?
The answer is Fear.
The fear of losing is the number one reason salespeople do not cross-sell more often. Salespeople are often fearful of risking the order they just received if they ask for more. They do not want to confuse their accounts by pitching lots of new products. They don’t want to delay the sale, or payment. And they may feel that what they are cross-selling is not their area of expertise.
The four steps to more effective cross selling as covered by Rich Blankeman are as follows:
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