Alternative Revenue Cross Selling, Reselling & Upselling
Do You Know?
Probability of selling to an existing customer is 60-70%,
While the probability of selling to a new prospect is only 5-20%
Why?
Why? You should invest in Upselling
Do You Know?
Increasing customer retention rates by just 5% increases profits up to 95%
Why? You should invest in Cross-selling
Do You Know?
35% of Amazon’s revenue is generated through its cross-selling efforts
Why? You should invest in Reselling
Do You Know?
Acquiring a new customer is up to
25 times more expensive than selling to an existing one.
25 times more expensive than selling to an existing one.
Why? You should invest in Reselling
Do You Know?
68% of businesses say reselling to existing customers is a top priority
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Business Growth
With Cross-selling, Reselling, & Upselling
- Cross-Selling : DGTLmart taps into customer insights to suggest related products or services, tailors campaigns for specific segments, and crafts compelling content for emails and promotions.
- Reselling : DGTLmart identify upgrade opportunities, implement remarketing efforts, and create persuasive content to highlight enhanced solutions.
- Upselling : DGTLmart conducts market research, optimizes product or Service pages, employs visual aids, and utilizes marketing automation for effective upsell suggestions.
Cross-Selling Revenue Model
Cross-Selling Process
- Segmentation: Divide customer base into segments based on their preferences, purchase history, and demographics.
- Product or Services Complementarity: Identify products or services that naturally complement each other and could be sold together.
- Targeted Messaging: Create marketing campaigns that focus on the benefits of combining these complementary products or services .
- Bundle Offers: Package related products or services together and offer them at a slightly discounted price to incentivize cross-purchases.
- Website Integration: Display "Frequently Bought Together" or "Complete the Look" suggestions on online store for ecommerce.
- Email Recommendations: Send personalized emails suggesting products or Services based on the customer's previous purchases.
- Post-Purchase Recommendations: After a purchase, show customers related products or Services they might have missed during purchase.
- Feedback and Improvement: Analyze which combinations yield the highest conversion rates and refine cross-selling strategy accordingly.
Cross-Selling Plan & Strategy
Data Collection and Segmentation
1.Set up CRM to collect and store customer data, including purchase history, preferences, and interactions.
2.Segment customer base based on their past purchases and interests.
2.Segment customer base based on their past purchases and interests.
Automated Cross-Sell Campaigns
1.Create automated email campaigns triggered by specific customer actions, such as a recent purchase.
2.Use dynamic content in emails to recommend related products or Services based on the customer’s purchase history.
3.Set up email workflows that progressively introduce customers to complementary products or Services over time.
2.Use dynamic content in emails to recommend related products or Services based on the customer’s purchase history.
3.Set up email workflows that progressively introduce customers to complementary products or Services over time.
Personalized Product or Services Recommendations
1.Utilize the CRM’s data to generate personalized product or Service recommendations on website.
2.Implement a recommendation engine that suggests complementary products or Services during the browsing and checkout process.
2.Implement a recommendation engine that suggests complementary products or Services during the browsing and checkout process.
Retargeting and Social Media Integration
1.Set up retargeting ads on platforms like Facebook and Google to showcase complementary products or Services to recent customers.
2.Integrate CRM data with social media advertising to deliver targeted ads to specific customer segments.
2.Integrate CRM data with social media advertising to deliver targeted ads to specific customer segments.
Reselling Revenue Model
Reselling Process
- Customer Engagement: Maintain regular communication with your existing customers through newsletters, updates, and social media.
- Product or Service Updates: Highlight improvements or updates to your products and services that might entice customers to repurchase.
- Exclusive Offers: Offer loyal customers exclusive deals, discounts, or early access to new releases.
- Customer Feedback: Encourage customers to provide feedback and reviews, showcasing their positive experiences.
- Value Reinforcement: Remind customers of the value they received from their previous purchase and how it can be extended.
- Renewal Reminders: If applicable, send reminders for subscription renewals with incentives for renewing early or upgrading.
- Upsell Pathways: Incorporate upsell suggestions for enhanced versions of what they previously bought.
- Re-engagement Campaigns: Identify inactive customers and re-engage them with personalized offers and content.
Reselling Plan & Strategy
Customer Engagement Workflows
1.Build automated email workflows to maintain engagement with existing customers.
2.Send personalized content such as newsletters, product or Service updates, and helpful tips to keep customers informed.
2.Send personalized content such as newsletters, product or Service updates, and helpful tips to keep customers informed.
Automated Renewal Reminders
1.Set up CRM notifications to remind customers of subscription renewals or service expirations.
2.Automate renewal reminder emails with incentives for early renewal or upgrading to a higher-tier plan.
2.Automate renewal reminder emails with incentives for early renewal or upgrading to a higher-tier plan.
Feedback and Reviews Campaigns
1.Automate post-purchase surveys to gather feedback and encourage customers to leave reviews.
2.Use positive reviews in automated email campaigns to highlight the positive experiences of repeat customers.
2.Use positive reviews in automated email campaigns to highlight the positive experiences of repeat customers.
Exclusive Offers for Repeat Customers
1.Design exclusive discounts or promotions for customers who have made multiple purchases.
2.Trigger automated emails to deliver these offers, showcasing the appreciation for their loyalty.
2.Trigger automated emails to deliver these offers, showcasing the appreciation for their loyalty.
Upselling Revenue Model
Upselling Process
- Product or Service Knowledge: Train sales and support teams to deeply understand the features and benefits of premium offerings.
- Customer Needs Analysis: Understand customer's needs and tailor upsell pitch to address those specific pain points.
- Value Proposition: Clearly communicate the additional value that the premium product or service provides.
- Tiered Offerings: Structure offerings in tiers, making it easy for customers to see the advantages of upgrading.
- Comparative Content: Create content comparing standard and premium offerings to showcase the benefits of upgrading.
- Trial Periods: Offer limited-time trials of premium features to let customers experience the value firsthand.
- Case Studies/Testimonials: Share success stories of customers who upgraded and achieved remarkable results.
- Flexible Payment Options: Provide payment plans or financing options to make the premium choice more accessible.
Upselling Plan & Strategy
Segmentation and Behavior Tracking
1.Segment customer base based on their previous purchases, preferences, and behavior.
2.Set up CRM tracking to monitor customer engagement and interactions.
2.Set up CRM tracking to monitor customer engagement and interactions.
Behavior-Triggered Upsell Campaigns
1.Automate emails triggered by specific customer behaviors, like using a particular feature or visiting premium product or Service pages.
2.Deliver personalized messages that highlight the benefits of upgrading to a premium version.
2.Deliver personalized messages that highlight the benefits of upgrading to a premium version.
Nurture Sequences for Upselling
1.Develop automated nurture sequences that educate customers about the advantages of premium offerings.
2.Use a combination of educational content, case studies, and customer testimonials to build interest.
2.Use a combination of educational content, case studies, and customer testimonials to build interest.
Upsell Webinars and Demos
1.Host automated webinars or provide demos showcasing the value of premium products or services.
2.Use CRM data to target customers who are more likely to be interested in upsell opportunities.
2.Use CRM data to target customers who are more likely to be interested in upsell opportunities.
Personalized Upgrade Paths
1.Create tailored paths for customers based on their current usage or subscription tier.
2.Automate emails that guide customers through the steps of upgrading and highlight benefits.
2.Automate emails that guide customers through the steps of upgrading and highlight benefits.