Pop quiz! Which of these two statements is true? Your print buyers prefer to do business with:
It seems like an easy enough question, right? But, then why is it that when businesses look to increase their sales, they focus on selling to new prospects instead of their existing customers? Keep in mind that the probability of selling to a new prospect is only 5-20%, while focusing your efforts on existing customers brings that probability up to 60-70%!
Cross-selling and upselling is a great way to maximize your sales efforts and increase your revenue. And, these tactics don’t just benefit your sales numbers. Cross-selling and upselling helps breed customer happiness and deepen relationships because you’re ultimately delivering more value.
Cross-selling can be summed up by asking yourself one question:
What additions can you provide to what your print buyers have already purchased?
The “Golden Arches” (a.k.a. McDonald’s) are known for one of the most famous examples of cross-selling of all time with their familiar question, “Do you want fries with that?” That innocuous question was a subtle yet ingenious marketing tool because by asking it, McDonald’s did a couple of things:
So, what does cross-selling look like in your world of print?
Cross-selling will direct your print buyers to print products or services that they would have most likely purchased anyways. However, by putting those products in front of them at the right time, you’ll be able to ensure your company makes an extra sale.
Consider offering complimentary additions to your print buyers’ orders.
For example, say your print buyer is looking to add business cards to their online shopping cart. You could create additional questions on your order forms, such as “Do you need matching letterhead?” Or, perhaps they’re shopping for envelopes. Add a question, such as, “Would you like to add custom envelope seals to your envelope order?” By prompting your clients to buy additional items, you’ll ultimately increase the value of each purchase.
Keep in mind that add-ons don’t necessarily need to be financial either. Consider adding a question asking if your print buyer would like to sign up for your email newsletter or physical mailing list.
Cross-selling is an excellent tool to help you generate repeat business by building confidence in your buyers with all you have to offer.
Another valuable tool to increase your sales is upselling.
Upselling will not only help you build deeper relationships with your customers, but it will increase a customer’s lifetime value or CLV. Upselling asks the question:
Can your print buyer upgrade their existing order in any way?
For example, have you ever been asked if you would like to upgrade to a small Blizzard for $1.00 more at Dairy Queen? These upgrades make consumers feel like they’re getting a higher-end product (which they are), and you see the benefits in increased sales.
At your print business, upselling looks more like this:
Upselling effectively is all about timing. You want to highlight the right products and services at the right time to hit each aspect of the marketing flywheel. For example:
A good upsell or cross-sell will leave your print buyers feeling like they came out ahead. Keep these tips in mind for mutual success:
Lastly, remember the late Zig Ziglar’s famous quote, “You can have everything in life you want if you will just help enough people get what they want.” Set your print buyers up to win, and you will win as well.