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Cross-selling is a sales technique involving the selling of an additional product or service to an existing customer. In practice, businesses define cross-selling in ...
Cross merchandising is the retail practice of marketing or displaying products from different categories together, in order to generate additional revenue for the store, sometimes also known as add-on sales, incremental purchase or secondary product placement. Its main objective is to link different products that complement each other or can ...
A two-sided market, also called a two-sided network, is an intermediary economic platform having two distinct user groups that provide each other with network benefits. The organization that creates value primarily by enabling direct interactions between two (or more) distinct types of affiliated customers is called a multi-sided platform. [1]
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
The attach rate is a concept used broadly in business, especially in marketing, to represent the number of units of a secondary product or service sold as a direct or implied consequence of the sale of a primary product or service. [1]
Direct selling is a business model that involves a party buying products from a parent organization and selling them directly to customers. It can take the form of either single-level marketing (in which a direct seller makes money purely from sales) and multi-level marketing (in which the direct seller may earn money from both direct sales to customers and by sponsoring new direct sellers and ...
Cross-media marketing is a form of cross-promotion in which promotional companies commit to surpassing traditional advertisement techniques and decide to include ...
A downside to cross-selling can be seen as the same as that of upselling. This main drawback is known as "over-touching" the customer which in simpler terms means, giving too many cross-selling options can result in the customer ignoring the efforts given and can desensitize the customer to future cross-selling offers. [6]