How do you use cross-selling to boost sales? Our guide outlines how this sales stragegy works, and the best ways to use it in your business.
Private label sales are a solid source of income for many retailers. Many strategists at the big chains have tried to expand the sales of these cashcows with the help of cross-selling strategies, and this strategy can work for smaller enterprises to use cross-selling to boost sales. We’ll tell you what you need to consider.
Who is already using cross selling with great success?
The sales strategy for private labels is incorrectly considered to be mainly used in the non-food area. But every time a sales staff member asks a customer “would you like fries with that” or “would you like dessert” it is actually also a form of cross-selling. Essentially, cross-selling is offering the customer associated products that go with the one they are already buying.
DIY stores and plant stores are increasingly using cross-selling with private labels to indicate the appropriate supplementary product on the packaging. At Dulux or Dupont paints, for example, you will find images of the matching paint rollers or the right cover film on the paint buckets. Other examples are technology-based stores suggesting appropriate batteries for a purchase.
There is still some catching up to do in the supermarket food sector. On the cooking instructions for branded products, such as instant sachets, the right ingredients for the supplement are already shown in order to guarantee the success of the dish. There is certainly further potential for the private labels here.
For whom cross selling is particularly worthwhile?
The prospects for the success of cross-selling are particularly good for products that are not used regularly. After all, the average consumer does not do renovation work every day – it is better to play it safe with the recommendation of the trade. Garden maintenance products, for example, also requires a certain amount of expertise. You want to avoid that the bought plants threaten to perish directly through the wrong soil.
3 tips to use cross-selling to boost sales
So use the cross-selling strategy to sell products that require explanation. You convey the need for security to the customer when you offer the right supplementary product.
Also, be careful not to place the complementary products too far apart in the shelf placement. The customer shouldn’t have to walk through the whole market to find the right soil for the plant. This also applies to the online shop. Offer suitable products directly, for example, when someone has a certain product in their shopping cart.
A special incentive could be the offer of cross-selling products at a special price if the customer chooses several products from a series. Often a bundle price is even more attractive and the purchase decision is positively influenced.
In addition to cross selling, there are numerous other strategies and sales trends that you as a manufacturer of private labels can learn from branded products. Do not miss these trends and take the opportunity to find out about modern concepts.