MANAGEMENT

Detailed explanation-1: -Cross-selling involves selling related, supplementary products or services based on the customer’s interest in, or purchase of, one of your company’s products. Its a great way of increasing customer loyalty and deeping customer relationships which in turn can improve customer lifetime value and retention.

Detailed explanation-2: -Cross-selling is the practice of marketing additional products to existing customers, often practiced in the financial services industry. Financial advisors can often earn additional revenue by cross-selling additional products and services to their existing client base.

Detailed explanation-3: -Examples of cross selling include: Fast food restaurants asking: “Do you want fries with that?” eCommerce websites showing “customers also bought” A mobile phone retailer suggesting a customer buys a new case for their new phone.

Detailed explanation-4: -Cross-selling is the practice of marketing and selling additional products, usually done by a salesperson who has a customer relationship; often practiced in the financial services industry.

Detailed explanation-5: -What is the difference between upselling and cross-selling? Definition: Upselling is the practice of encouraging customers to purchase a comparable higher-end product than the one in question, while cross-selling invites customers to buy related or complementary items.