Increasing Your Bottom Line

Increasing Your Bottom Line

In a previous article we spoke on increasing your bottom line via up selling you can view it here. Today we are continuing with the mindset of increasing profits and another way to do so is by cross selling. In effect it is enticing a customer to buy more of your products or services which complements products or services they already have.

In said article we looked at an example of a retail clothing store. In order to entice said customer into buying more a sales clerk could reach out with complementary items to show the customer how they could wear again said dress.

Key here is to think; how could that dress be worn again to another event yet look different? Or, even wear to the office. It is important to remember the objective is to increase the bottom hence the clerk should have suggestions such as a jacket and in matching/complementary colour(s).

Cross selling is a technique used by even the “big guns”. Amazon does this on its website via the “Frequently Bought Together” and “Customers Who Bought This Item Also Bought” … features and they also show a few “related products”. You can see this in action once you are viewing a product on its website.

 This method spans industries; just go into a fast food joint such as McDonald’s and the classic question, “Would you like fries with that?” is asked.

For more on this and other strategies connect with us to put a plan in place or update the one you have, join us in twitter.