Cross-Selling to Increase Your Customer Account Sizes
The golden rule of sales is that it costs five times more to acquire a new customer than it does to retain an existing one. Why? Well, building trust is a major part of closing a deal. Once you’ve established a good relationship and have provided beneficial results for the customer, you’re in the perfect position to utilize cross-selling and increase the account size.
Website visitor tracking software will enhance your cross-selling strategies by knowing when an existing customer is interested in a new product or service, having the contact details of various departments, and being able to customize the offer to match your client’s needs. Let’s take an in-depth look at how you can go about this.
The Power of Cross-Selling
The hotter the lead, the more likely you’ll make a sale. Here’s a sales statistic that might make you rethink your business strategy: The success rate of selling to an existing customer is 60-70%, while the success rate of selling to a new customer is 5-20%. We’re not here to suggest that you should turn your back on finding new clients–not a chance! We just want to point out that by not cross-selling, you’re leaving a lot of money on the table.
Here’s how website tracking can help.
Track Interest in New Products & Services
Implementing our website visitor tracking software will send notifications when any business visits your websites (existing clients included). When you see a current customer on your page, that’s a good indication that there’s interest in a new product or service. But what exactly were they looking at?
The software will show you the virtual route your customer took through your website. You’ll know which products, packages, and deals they looked at and which they didn’t. If you see they were digging around something other than what they already have, well, it’s time to get busy cross-selling.
Use Provided Contact Details
When a business lands on your website, the tracking software will pull up the contact information connected to the customer’s LinkedIn accounts, including phone numbers and email addresses of decision-makers in the company. Account managers can then branch out into the customer’s other departments that may have been responsible for clicking around your other products and services.
Having the email addresses of an existing customer’s other departments will also be an opportunity to fine-tune your email campaigns. So, take advantage of the data and fire away!
Tailor Your Pitch
The best part about cross-selling to an existing client is that you know them. You know how they operate, what they want to hear, and what they’re trying to achieve. Use that database of knowledge to tailor the perfect pitch. Remember, you already did the hard work by building a solid relationship with them. Now, use the new product or service to make it even stronger.
If you have multiple products that could benefit your customer, offer them as a bundle! It’s a tried-and-true method to close sales and boost revenue. The client wins because they’ll get your products at a discounted rate, and you win by bringing in more money and further solidifying a loyal relationship. That’s a successful workday!
Check out this video on using our software for more effective cross-selling and upselling.
The Lead Revealer Cross-Selling Solution – See Who’s on your Website
Even the world’s best performing B2B websites have a 92-95% bounce rate and, because of this, top companies don’t just sit and wait for inquiries. They actively reach out to their website visitors when they see a prospect that hits their lead criteria and are currently in the market.
Lead Revealer are experts in website visitor identification. We show you which businesses are engaging with your website in real time, even if the visitor hasn’t inquired. We provide you with the name of the business, details of the pages they’re viewing and accurate contact details. Reach out before your prospect moves on to your competitors!