GROWTH
Product & Cross Sell
UNDERSTAND
U
Conduct Interviews & Review Data
NAVIGATE
N
Identify Connections & Create Frameworks
IMPLEMENT
I
Unlock Customer Spend
TRACK
T
Track Progress
YIELD
Iterate & Evolve
Y
Using the UNITY framework, let's explore a specific scenario that may keep you up at night...
Scenario
You have a loyal and attentive client base, but they either buy a small portion of your product/service portfolio or you don't have any options to continue to grow their spend. You're wondering if there are unexplored areas to improve cross-sell index and eliminate whitespace.
01
Conduct Interviews & Review Data
Conduct a whitespace analysis that segments customers based on their preferences, purchase history, and behaviors.
Analyze your product and service portfolio to identify complementary offerings that can be bundled or cross-sold.
Review current customer lifecycle and conduct role-play sessions with the sales team to assess understanding of cross-sell potential.
Research competitors' strategies for cross-selling and upselling.
Understand what products or services they bundle, how they position premium offerings, and their success rates.
Assess the current new product introduction (NPI) process.
02
Identify Connections & Create Frameworks
Develop a cross-selling strategy that outlines which products or services to promote together. Define the messaging, incentives, and channels for cross-selling efforts.
Allign NPI framework to the customer journey to understand touchpoints where cross-selling and upselling opportunities naturally arise.
Train the sales team on cross-selling techniques, premium offering features, and how to identify upsell opportunities in customer interactions.
Integrate cross-selling and upselling strategies into your marketing efforts. Ensure consistency in messaging across various customer touchpoints.
03
Unlock Customer Spend
Execute the cross-selling strategy by integrating related products and services into the sales process.
Train sales and customer support teams on cross-selling techniques.
Implement NPI process which focuses on iterative update, expansion, and modernization of product/service portfolio.
Execute upsell campaigns, targeting eligible customers with personalized offers and messaging.
Implement necessary tools and automation such that sales and customer relationship management systems support cross-selling and upselling initiatives.
Establish mechanisms for capturing feedback from both customers and sales teams regarding cross-selling and premium offerings.
04
Track Progress
Define and track key performance indicators (KPIs) related to cross-selling and upselling, including changes in average transaction value, conversion rates, and customer retention.
Analyze the effectiveness of cross-selling and upselling efforts across different customer segments.
Identify which segments respond most positively and adjust strategies accordingly.
Monitor the performance of the sales team in executing cross-selling and upselling strategies. Provide ongoing training and support.
Gather and analyze customer feedback related to cross-selling and premium offerings. Understand their perceptions and suggestions for improvement.
Evaluate the outcomes of upsell campaigns, including the number of customers who upgraded to premium offerings and the associated revenue increase.
05
Iterate & Evolve
Analyze the data collected from tracking efforts. Identify trends, successes, and areas for improvement in cross-selling and upselling.
Develop an improvement plan based on data analysis and customer feedback.
Determine which cross-selling tactics or premium offering features should be refined.
Conduct regular working sessions to ensure consistent progress without the need for full-scale change.
Foster a culture of continuous improvement within the organization regarding cross-selling and upselling. Encourage ongoing refinement and innovation to enhance the customer experience and increase revenue.