Relationship Expansion or Cross-Selling?

Posted February 27, 2024 in Sales Brew

Transcript:

The Elephant in the Room

The said elephant is none other than the concept of cross-selling, which tends to evoke skepticism. Over time, this skepticism has arisen due to some individuals in sales, with good intentions although accompanied by undesirable practices. It’s crucial to recognize and address this elephant today, visible on both your screen and mine.

Now, let’s explore why this elephant, known as cross-selling, exists. The traditional perspective on cross-selling, if we were together in person, would likely involve me asking around the room why we should engage in it. Common responses would revolve around increasing sales, driving market penetration, and enhancing customer loyalty to fend off competition. While these reasons may hold some truth, let’s shift the focus to the second question: where is the emphasis placed?

After addressing the “why” of cross-selling, it becomes apparent that the traditional rationale centers on the benefits to the company – more sales, increased market share, and customer retention. However, there’s a notable absence of consideration for the customer. This observation holds true in our experiences at Anthony Cole Training Group, where, despite our 30 years of engagement in this conversation nationwide, not often does anyone express that cross-selling should occur because it is genuinely in the client’s best interest.

Today, I aim to introduce an approach that not only fosters your comfort but also elevates the quality of the relationships you have built with your customers over time. To achieve this, we must entertain the possibility that the most compelling reason to broach the topic of relationship expansion with a client is the potential benefit to their best interests. It could be that your client is struggling with a problem they need assistance in solving.

The Elephant in the Room

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