What makes the idea of cross-selling so insidious is that it is half-right. Customers do want to conserve their energies when they shop. They like, for example, to be able to buy a pint of milk and a gallon of petrol at the same service station. It is also true that what you learn about a customer in one selling context can sometimes be profitably exploited in another. An estate agent, for example, can be ideally placed to help a house buyer with a mortgage and house insurance.
But here’s the rub: cross-selling works only when what is being sold really is a collection of the best. In today’s world of sophisticated, informed customers, even great products will not tug mediocre ones along with them.
And there is another rub: using customer information gained in one context to pitch products in another is likely to cause serious aggravation to customers.
…Cross-selling is a producer-driven strategy in an increasingly consumer-driven world. It is simply out of touch with the times.
Click to Add the First »