From the course: Cross-Selling
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Potential drawbacks of cross-selling
- We've seen how cross-selling can certainly benefit your business, so much so that it would seem there aren't any drawbacks. The reality is if done ineffectively you can end up putting existing business at risk possibly eroding margins on existing business lines as well as run the risk of missing significant opportunities for new business. Let's walk through a few areas we need to be conscious of when executing our cross-selling strategy. The first potential drawback is we can come across as self-serving. Customers buy products and solutions to solve problems, and when our message comes across as selling another product and then another product versus solving a problem and then another problem, we can come across to the customer as if we are only interested in the next sale. It can be the dreaded I got more watches effect. I just sold you a watch but right after you agree to buy my watch I open the other side of my coat and say, I notice you have a second wrist, see I've got more…
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