Easy TIPS and TRICKS to help with this important but sometimes undervalued revenue stream.
Do you shop online? Of course you do, who doesn’t these days. The art of the “cross-sale” is alive and well in cyber-shopping land. You may or may not know it, but copy like “You Might Also like” and “Do You Need…?” are ways to get you thinking in terms of other products. Of course “related items” is the most popular way to get customers to increase shopping basket size. There isn’t a successful online retailer that doesn’t use this technique at some point in their web marketing.
But cross-selling was invented by Brick and Mortar retail centuries ago and it remains as relevant as ever, although as you travel around retail stores and browse the aisles, it is amazing how some refuse to use this proven, age old technique. Online shoppers have created new shopping habits which have in turn, influenced shopping at their brick and mortar stores. Shoppers are more disciplined and are leaving stores with only their planned purchases. It is critical for brands and retailers to be very savvy about cross-selling and use only the best and most tested techniques, ideas and product combinations to be successful. Properly employed, cross-selling can create additional sales, even among the most focused consumers. If a combination demonstrates to someone that their life will be made better or easier, or will save them money, they will at least, seriously consider it. In the world of DRTV (Direct Response TV), the phrase of “BUT WAIT...”, is their age old method tempting you to buy. Cross-selling is the "BUT WAIT..." of the Brick and Mortar world of retailing.
Ok, by now you realize you must cross-sell, but how do you begin?
Here is a list of things to do and consider:
-Signage directing customers to another section of your store?
-The actual cross-selling tools or products to employ?
There are many merchandising aides used to make cross-selling work for you. We, at Clip Strip Corp., are all about products to create impulse sales and cross-selling. You can go subtle and use any one of our hundreds of sign holders to help someone find a in a specific product or get much more direct and sell a very related items on a Clip Strip® Brand Merchandising Strip. Hang the strip on the side of a larger POP display or off a shelf-edge. A perfect example is displaying holders for eye-glasses on a Clip Strip® hung off of a corrugated POP display of eyeglasses. A natural fit!
You can go as far as being part of an official retail chain's “Clip Strip® Merchandising Strip Program” that implements cross-selling in each aisle of a store.There are companies that specialize in this service. Do you have a product innovation and are looking for way to get in at retail? Suggest to the chain buyer to merchandise it next to a popular related item, if applicable. This could be a low risk way to test your viability out at retail for both you and the store.
Get going with adding Cross-Selling into your merchandising strategy and fend off the
"Only-Planned-Product-Purchase” consumer trend and see your sales grow.