Cross-Selling and Upselling

Klaus Solberg Söilen
Additional contact information
Klaus Solberg Söilen: Halmstad University

Chapter 28 in Digital Marketing, 2024, pp 291-299 from Springer

Abstract: Abstract Cross-selling and upselling are crucial strategies in digital marketing that involve selling additional or more expensive products to existing customers. Cross-selling suggests related products to enhance the initial purchase, while upselling encourages purchasing higher-end items. These strategies maximize customer value by increasing immediate revenue, building long-term loyalty, and enhancing customer experience. Market Basket Analysis helps identify product combinations frequently bought together, aiding in effective product bundling. Implementing strategies like remarketing, personalized offers, and product bundling can significantly boost cross-selling and upselling efforts. Technologies such as CRM systems, predictive analytics, and marketing automation platforms support these strategies by providing valuable customer insights. Ethical considerations, including transparency and customer consent, are essential for maintaining trust. Future trends like AI, omni-channel integration, and sustainability will further enhance the effectiveness of cross-selling and upselling. Embracing these practices can lead to increased sales, improved customer satisfaction, and stronger brand loyalty.

Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-031-69518-6_28

Ordering information: This item can be ordered from
http://www.springer.com/9783031695186

DOI: 10.1007/978-3-031-69518-6_28

Access Statistics for this chapter

More chapters in Springer Texts in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().