Ever been asked if you’d like fries with your burger? To upsize your drink? A muffin with your coffee? If you are nodding your head as you read this …I’m not surprised!
According to Marketing Metrics, the probability of selling to an existing customer is 60-70% versus 5-20% for a new prospect.
The goal is to make more money per order by introducing consumers to new, additional, better or complementary products. Doing so adds value for the industry and its end customers.
Upselling and cross-selling can work for any type of business – whether you are a brand, big box store, theater company, venue, sports team or university.
So What is the Difference Between an Up-Sell and Cross-Sell?
An upsell is to get the customer to spend more money – buy a more expensive model of the same type of product, or add features / warranties that relate to the product in question. For an events or entertainment organization, examples include:
A cross-sell is to get the customer to spend more money buy adding more products from other categories than the product being viewed or purchased – so in the case of the zoo, something different than admission tickets. Examples include:
Three Big Benefits of Up-Selling and Cross-Selling
DO’s
DON’Ts
How Can You Get Started With Presenting Your Customers the “Right Offers at the Right Time”?
The Tuacahn Amphitheatre does a great job, showcasing everything from merchandise, pre-show dinners, concessions and gift certificates on its main home page.
Other times to consider:
Help make customers happy while increasing business revenue and retention! If you don’t have upselling and cross-selling incorporated into your sales plan, now is the time to get started. Have questions? Ask us!