Tuesday, 4 October 2011

Why Crosselling of Products/Services is Popular among Businesses

Getting new customers to buy your product(s) or service(s) is not an easy thing. Its hard work. And maybe not just that, you have to spend a lot on marketing to get them.

How then do you ensure that you sell as many of your products/ services as possible without the hustle of excess marketing? Crosselling is your answer.

Take leading mobile telephone operator Safaricom for instance. How many products does it have? How many customers? How does it retain its customers?

I will leave it to you to establish the number of products and customers that Safaricom has. But let me tell you why some of us are its loyal customers.

Safaricom has ensured that even those with little resources use more than one product of theirs. The combination, especially the young is: normal calling and text messaging, internet services, and you guessed it right! mobile money transfer (M-Pesa).

By selling a combination of products to its customers, the leading mobile telephony firm has ended up maximizing on the customers it has. It makes more profits on the same number of customers.

The practice of crosselling is also popular among banks. Banks ensure that you have different kinds of accounts, have an ATM, register you on mobile banking and if you have an email address, ensure that you register on internet banking as well. As a result, they make lots of money from individual customers who have taken more than one product with them.

There are business that have as many as ten products but rarely sell more than one product to a customer. The customer visits the business, asks for a certain product, he gets it, and that's all.

It is such business that realize, pretty soon, that others are making more in profits than them. Here is why, competitors have realized the full potential of selling more products to their customers.

So here is my advice: if you have  business or plan to start one, remember to sell as many products to each customer as possible. And don't even think customers will go away because you'll be bothering them.

Customers are human and they'll appreciate any initiative on your part that saves them the trouble of walking from one place to another to get certain products or services.

- Karani Kelvin- sirkarani@gmail.com

2 comments:

  1. Seems like the reason why customers would rather stick to a jerk of all trade.Nice, cool insights

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  2. There is no point of letting customers hop from one shop to another to get goods or services that you either have or can make available. Selling as many as possible to them is beneficial to them and yourself. You make more profits and they save time---now, thats business!

    ReplyDelete

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