What is the difference between upselling and cross-selling?
Definition: Upselling is the act of persuading a customer who is already buying something to buy something more expensive.
Cross-selling is the act of selling a different product or service to someone who is already buying a product/service from the same company.
Cross-selling can occur in every type of commerce company whether it is a bank, insurance agency, an eCommerce website, or a company that sells hair styling tools. By identifying products or services that additionally help to fulfil what the original item/service can’t on its own. This can also bring your customers attention to products or services that they didn’t know you offered.
For example a bank will cross-sell credit cards to people who are setting up a savings account. Whereas a company selling hair styling tools will cross-sell a hair brush to people who are buying a hair dryer. These may have been items that they were going to get anyway at some point or elsewhere, but by showing these to the customer at the checkout point, your company ensures that they get the profit.