So, here we are discussing our version of this popular and important Cross-Sell story! The success of a cross-sell program depends on enablers such as organizational commitment; well-defined business strategy; effective execution; regular monitoring; and effective targeting strategy.
For example — Selling a combo meal for McDonalds is a good example of bundled sale. However, a bigger push for unsecured and secured loans is required as the penetration of these loans among credit card customers is relatively low.
You plan to purchase a mobile phone worth Rs. The grid is created based on a unique customer identification key.
Cross-selling is a core component of a customer centric relationship strategy and requires an integrated view of the customer. Cross-sell grid for identification of opportunities A cross-sell grid is a mapping of products held by customers and which is segmented by product group.
They would know the code used, but were unable to explain this simple concept. This concept is being taught in every marketing class across the world, thereby students are expected to know of it.
Every other day when you visit a supermarket, restaurant to purchase something, this concept comes into live action.
Here is an example below. In our experience spawning several decades of setting up and training teams, we have conducted hundreds of interviews.
Clearly this segment is an untapped opportunity. Cross Selling offers benefit to both the ends of marketing cycle i. Cross-Sell Process The cross-sell process is outlined step by step in the following figure.
The following figure for a mobile service provider in Europe shows that subscribers opting for a 4-play bundle 4 services have a quarter of the churn rate as compared to 1-play subscribers. We can conclude that this specific cross-sell program is a successful one.
The models provide answers to the following questions What — choice of product. The impact of bundling can be powerful. This combined product or offer is at a discount so that it is more attractive to buy the bundle than products standalone.
The long term strength of Amazon is its ability to recognize customers one-on-one and effectively cross-sell across categories based on targeted recommendations. In order to explain the end to end process, we have also provided a case study in the second half of the article.mint-body.com case study - update Amazon's business strategy, revenue model and culture of metrics: a history I've used Amazon as a case study in my books for nearly 20 years now since I.
2. Design a customer-driven marketing strategy with the goal of getting 3. Construct a marketing program that actually delivers superior value 4. Building profitable customer relationships and creating customer delight.
5. Reap rewards of strong customer relationships by capturing value from customers. Best Selling Case Studies Cases Case Study in Business, Management, Marketing, Business Ethics, Business Strategy, Operations, Corporate Governance, Economics.
The Selling Concept proposes that customers, be individual or organizations will not buy enough of the organization's products unless they are persuaded to do so through selling effort.
So organizations should undertake selling and promotion of their products for marketing success.
The selling concept essentially mirrors the thought that consumers will not purchase enough of the company’s products unless large-scale promotional and selling efforts are carried out by it.
Selling concept is one of the ideologies in marketing like production concept, product concept, holistic concept etc. This case reminds me of a challenge that Entertainment One faced a few years ago when we produced a show called Skins for MTV.
It was based on a popular UK show of the same name that portrayed teenagers in real-life .Download