Missing Out On Cross-Selling Opportunities?
Have you ever had a customer that just utilizes one service you offer? Go on, be honest. I think we are all guilty here. You may surprise yourself where opportunities lay and you may be missing out if you don’t wave a flag and let your customers know. That is the art of cross-selling.
It is amazing how complacent we are at times that we just continue doing the same old thing and getting the same results however that customer is probably buying one of your services from your competitors. Are we failing in the search? Are we not asking the questions? One of my favourite sayings rings true: If you don’t ask for the order, you won’t get the order.
Finding selling opportunities is like searching for gold. The only thing worse than losing to the competition is not knowing there was anything to fight over in the first place. You won’t win every time, but when you are able to see the opportunities that exist and get in the game before you fall behind all your competitors. Missing opportunities to sell to existing customers will put you behind and may lead to you being replaced as a strategic partner.
Upselling and cross-selling are part of the internal selling process, but for that to work, you first have to find the right opportunities. Cross-selling is expanding the range, whereas upselling just expands that sale.
Failing to sell happens to everyone, but what about the times when you never even knew there was an opportunity for a sale? What’s going wrong in your strategy?
I’d say don’t wait for your customers to come to you. If you are willing to make the first move and take the conversation to them. Your customers are not going to work hard to prove that you’re a valuable addition to their supply chain. You have to put in the effort to reach out to your customers and demonstrate your value to them.
For example: I have a contact on my LinkedIn profile who contacted me for works outside of my usual scope so upon declining that I then referred him to someone else that may be a better business match. However, I told this person that we should stay in touch via my newsletter and that I hoped to meet him soon at a business networking event. We had a lot of mutual friends in business so I knew I’d see him soon. Then I sent out a newsletter to my database and he responded very quickly. “Help! I just want you to do some other works that I didn’t realise you offered”. And so, for a few weeks, I had been doing work for this new start-up business and decided that I should make the effort to go and meet my new client. He was worth having a coffee with. Turns out that was a great investment of my time and now we look forward to expanding the range of services to support his business and a long and fruitful relationship.
So there you are, if you don’t cross-sell on your services, how are they to know what you fully offer?
Then once you have that new customer, give them the WOW factor in your services. Show your customers that you’re committed to the long-term by consistently doing everything you say you’re going to do without having to be reminded by the customer. They will, in turn, become your new sales manager and raving fan for your business. And so the business grows.
Blind spots in your existing customer relationships can make it difficult for you to get ahead of what they need and see the opportunities before it’s too late. You need to start implementing proactive strategies that help you get ahead of the curve and avoid missing opportunities again. They are out there but you need to ensure the customer can see them.