Business Dictionary
Cross-selling
Definition
The action or practice of selling an additional product or service to an existing customer.
Deep Dive
Cross-selling is a sales strategy focused on encouraging customers to purchase additional, complementary products or services that relate to an item they have already bought or are in the process of buying. Unlike upselling, which aims to sell a more expensive version, cross-selling seeks to increase the overall value of the customer's purchase by providing related items that enhance their experience or fulfill additional, often overlooked, needs. This technique leverages the existing customer relationship and trust.
Examples & Use Cases
- 1An online retailer recommending a phone case and screen protector to a customer who just added a new smartphone to their cart
- 2A bank offering a credit card or a personal loan to an existing checking account holder
- 3A coffee shop suggesting a pastry or a flavored syrup when a customer orders a coffee
Related Terms
UpsellingBundle SellingCustomer Relationship Management (CRM)