Final answer:
Cross-selling is done at the point of sale or during the sales process to offer customers complementary products or services, aiming to enhance their experience and increase transaction value. It requires understanding customer needs and ensuring that the offerings provide genuine value.
Step-by-step explanation:
Cross-selling is a sales technique used to get a customer to spend more by purchasing a product that's related to what's being bought already. It's often done at the point of sale but can also be incorporated at any point in the sales process. The idea is to provide additional value to the customer by offering complementary products or services, thereby increasing the average transaction value.
For example, if a customer is purchasing a new smartphone, the salesperson might suggest buying a protective case or an extra charger. This is an effective way to enhance the customer's experience while also increasing the business revenue. It's important to carefully gauge the customer's needs and preferences to make relevant suggestions that are likely to be appreciated.
Effective cross-selling requires a good understanding of your products and services, as well as the ability to identify customer needs. It’s essential to ensure that the cross-sell is perceived as providing genuine value, rather than just an attempt to make a more expensive sale.