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Home What is cross selling in retail?
20 Jun 2022 By PAYCEC
It is much more expensive to acquire a new customer than it is to keep an existing one.
Furthermore, loyal customers make more purchases than new prospects.
So, if you don't cross-sell and upsell to your present customers, you're throwing money away and missing out on a slew of profit-boosting opportunities.
- Cross-selling is the practice of marketing related, extra items or services to customers who have expressed interest in or purchased one of your company's products.
- It's a terrific strategy to boost client lifetime value and retention by building customer loyalty and deepening customer connections.
- Cross-selling is therefore an effective growth strategy.
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