Would you like to drive more revenue? Simply prioritize customer acquisition.
In reality, this formula doesn’t support long-term financial success, as it may distract sales and account teams from discovering new cost-effective alternatives that can yield high profitability.
Many eCommerce brands have found cross-selling a lucrative sales strategy for retaining customers. A study shows that a 5% increase in customer retention can produce a 25% increase in profit. Many e-commerce brands today are trying to master cross-selling by offering multiple products to their pre-existing customers. If you’re looking for tools to streamline your cross-selling strategy, Rivo offers powerful solutions tailored for eCommerce growth.
However, cross-selling is a delicate practice, and excess nudging can repel buyers. This blog will help you unlock cross-sell opportunities to attract new customers and increase revenue without risking overstepping. Let’s get started.
How to Create Cross-Sell Offers?
Cross-selling encourages customers to buy complementary or additional products alongside their purchasing items. Imagine customers adding smartphones to their cart, and cross-selling would mean recommending relevant items like protective covers or other accessories that complement their original purchases.
Research shows that most e-commerce merchants don’t execute the cross-selling strategy properly. They either recommend irrelevant products or cross-sell items too much. You may lose your customer base if you’re stuck in a similar mistake.
Therefore, it’s important to know how to build cross-sell offers effectively. To better understand this, we reviewed many Shopify stores to check their cross-selling techniques and picked the best strategies for you.
Shopify allows you to implement cross-selling through apps. However, before you select the right Shopify cross-sell app, you should consider some important factors like 24/7 tech support, user-friendly interface, app reviews and ratings, pricing options, flexibility for multiple-page setup, and seamless integration with services like Mina logistics for streamlined order fulfillment.
How to Implement Cross-Sell Offers on Multiple Pages?
You can cross-sell your items on different pages of your e-commerce store, such as the product page, custom checkout page, post-purchase page, and thank you page. Let’s discuss it in detail.
#1 Cross-Selling on the Product page
Viewing a product makes you more likely to see complementary items below the product page. These cross-sells are automatically generated based on the customer behavior and viewed product categories. This technique is easy to implement, and you retailers use different phrases for cross-selling on product pages such as ‘you may also like’, ‘frequently bought together’, people also bought’, etc.
#2 Cross-Selling on the Checkout Page
Intent is important when you are implementing cross-sell offers. It shows the customer’s desire and likelihood to buy a product. When customers land on the checkout page, it means they are ready to make a purchase. Now, this is the perfect timing for product-specific cross-selling.
You can add cross-sell offers like cross-sell funnels and cart page add-ons. Moreover, you can also use platforms like Simplified Checkout to integrate a series of 1-click cross-sells into your checkout flow.
#3 Cross-Selling on the Post-Purchase Page
Intent doesn’t completely disappear after making a purchase. That’s where post-purchase cross-selling comes into play. It elevates the lifetime customer value without hampering the shopping experience. It’s the same method that you follow after buyers make payment for a product and the best part is that they need to enter payment details again for the cross-selling products.
#4 Cross-Selling on the Thank You Page
This strategy motivates existing customers to buy complementary products after making a purchase. Though many e-commerce stores make their customers subscribe to offer coupon codes or newsletters, it’s a great way for effective cross-selling. For instance, when a customer purchases a coffee maker, you suggest mugs or coffee beans on the thank you page.
Why is Cross-Selling Important for Your Business?
The core objective of cross-selling is increasing customer’s buying experience with your brand. It’s both a customer retention technique and a revenue driver that maximizes your sales potential. Beyond just better average order value (AOV), promising benefits of cross-selling include:
- Reduced Marketing Costs: It’s always more cost-effective to sell to existing customers than to acquire new ones. Cross-selling helps you utilize your current customer base and increase revenue without heavy spending on customer acquisition.
- Enhanced Customer Loyalty: Customers appreciate a brand’s thoughtful recommendations. It clearly shows that you aren’t just selling products but care about their demands genuinely. This increases trust and motivates them to buy again.
- Better Customer Experience: Cross-selling strategy is more than just pushing complementary products. Offering a personalized shopping experience also caters to customers’ specific needs and preferences.
- Deeper Product Understanding: A strong knowledge of products and how they complement each other is required for cross-selling. It strengthens the relationship with your product catalog and improves your sales and marketing approach.
Final Words
Cross-selling isn’t just about offering more products; it’s all about delivering unmatched value in every aspect. Whether you’re a seasoned eCommerce merchant or just starting your journey, mastering the art of cross-selling techniques will help you open the door to untapped revenue. Focus on the customer experience, timely recommendations, and personalized offers to ensure your cross-selling technique hits the mark and keeps customers motivated to purchase again.