I am not a massive supporter of jargon terms, especially in email marketing where there are all sorts of methods one can use to increase sale volume and/or value. Anyone new to our craft should not have to refer to a business dictionary in anyhow-to article. Keep it simple. Most revolutionary techniques can be reduced to nothing more than testing something a little bit different.
Cross-selling was in the title to this article so let’s start by defining it. It is little more than offering a customer other items related to a purchase, or intended purchase. If they are somehow complementary, such as reams of A4 every time you sell a printer, then the customer is more likely, one would assume initially, but know after testing, they are more likely to purchase the additional item. It’s not exactly off-the-wall and it’s likely you do something similar already.
If it is something you do without evidence, you can test by splitting your email marketing list to help hone your methods and increase ROI. Further, you can offer products you sourced specially. The testing will ensure that you have the specific type of item that goes with the initial product, at a price that you can ensure a decent ROI. If we run with the packets of A4 paper, there might well be a specific weight that goes with a specific printer.
There is a psychological advantage you can exploit. Your customer has either purchased the original item or is on the completion page when they receive the offer. Their mind is already in buying mode.
The big bonus is that you are reducing your risks with regards to selecting the additional item as you already know, via testing, the likelihood that your offer will be accepted. It allows you to reduce your offer price because risk is lowered. Just as exciting for the purchaser, you can headline the additional product as, ‘Special Offer’.
Make the customer feel grateful to you. Even, perhaps, include it in the original marketing email, encouraging them by suggesting there is an exciting additional offer they can take advantage of. Don’t lie. Don’t tell them it’s a one-off, or available for a limited period only. Be honest. Tell them this is a special purchase, one that you can offer them at reduced price. You could mention, perhaps, that it’s a bit of a thank-you for being such a valued customer. You might want to use a less hackneyed phrase.
Ties go with shirts, shocking sock design go with the latest golfing shoes, a memory card with a camera. It’s probable a specific product requires a specific complimentary product, such as the memory card mentioned having to be at least of a certain quality.
Cross-selling increases individual order value. It’s not all about selling warranties. You have a customer with money to spend, so make sure they spend all of it with you. Don’t get cross with jargon. You are increasing the value of an individual sale, the holy grail of email marketing.
