You decided to buy a new iPhone from the local dealer.
Salesman: So, which colour do you like?
You: Black, please!
Salesman: That is a nice colour; we have it in stock too. Now, let me show you the accessories. 80% of our customers who do not buy iPhone cases come back with broken phones. I suggest you purchase an insurance plan as well!
See how the risk of breaking and losing an expensive phone makes cross-selling easier?
You will see the same phenomenon when you buy an expensive watch, dress or software.
Now watch out for cross-selling in software sales. The problem is that often there is a perception that you are mitigating risk by buying more. Time and again, it is not the case:
Consider the following examples:
- We will also add the Advanced warehousing and Budgeting tool module to the order. As we have applied 60% discount on the main order. You will have these modules at a discounted rate to use in future
- If you sign-up for Managed Services contract now, you will be able to claim 24×7 support from us
The point is that the risks make cross-selling a piece of cake. As a buyer, evaluate which risk are you managing and the cost you are paying to mitigate it. Is it worth it?
Make a conscious decision because if you are not careful, your default position will be to buy more!
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