So, you want to grow your business. (Ta, don’t we all.)
There are about a billion different ways to do that, of course — advertising, strategic partnerships, referral and loyalty programs, acquisitions…but one of the easiest wins is a well-thought approach to sales: specifically, cross-sells and upsells.
We all know (er...should know) that it's much easier to sell to a current customer than to convince a stranger to buy your stuff, but allow us to impress upon you just how much easier it is, according to science:
“Statistics suggest the probability of selling to a current customer is 60 to 70% compared to 5 to 20% for a new customer.”
Properly leverage the attention of your current customers and watch what happens:
- increased average order value (AOV)
- a deeper customer relationship
- more awareness of and engagement with your brand
- making the perfect match between product and customer (and improving the customer experience overall)
Convinced of the value of upselling and cross-selling but have no idea how to get started?
Get the full how-to in The Importance of Upselling and Cross-selling for Subscription Brands, now on the ReCharge blog.