(2 minute read)
What is cross-selling?
Cross-selling consists of offering clients (real and potential) complementary products to those included in their initially planned purchase, regardless of whether it has been completed or not. A clear example of cross-selling is offering something to drink and a dessert to a client who had the intention of buying a sandwich, for example.
How is it optimized?
To optimize cross-selling by means of Artificial Intelligence and Big Data, we study and classify the individualized information of each client of the companies that use our solutions, in order to create accurate profiles, taking into account the purchase behavior and the preferences of each of them. The more available information and the more companies use the solution, the more accurate the predictions about the products to be included in the cross-selling of a specific client are, achieving a higher degree of satisfaction, when receiving offers of products that actually are of their interest.
Advantages of using optimized cross-selling
By optimizing cross-selling, our clients obtain, among others, two key returns that represent great advantages for their business activity: a sales increase and a strengthening of customer loyalty and new customers acquisition.
- Sales increase: it is an objective that is always aligned with the growth of companies, regardless of their industry. Thanks to optimized cross-selling, the average value of the tickets increases, generating a higher turnover and result.
- Strengthening of customer loyalty and new customers acquisition: developing existing customers through loyalty programs and attracting new ones are other objectives pursued by companies. Through optimized cross-selling suggestions that really add value to each person in an individualized way, our clients are able to enhance the clients’ commitment with the company, strengthening their relationship and optimizing it.
Optimized cross-selling alone can be an advantage for any trading company, but, on top of that, the use of an optimized cross-selling system with Artificial Intelligence that makes an adequate use of the large amounts of available data (Big Data) can imply an exponential increase in the performance of the developed campaigns and place a company at a much higher business level than the initial one.