Cross-selling is the action or practice of selling among or between clients, markets, traders, etc. or the action or practice of selling an additional product or service to an existing customer. This article deals exclusively with the latter meaning. In practice, businesses define cross-selling in many different ways. Elements that might influence the definition might include the size of the business, the industry sector it operates within and the financial motivations of those required to define the term. The objectives of cross-selling can be either to increase the income derived from the client or clients or to protect the relationship with the client or clients. The approach to the process of cross-selling can be varied. Unlike the acquiring of new business, cross-selling involves an element of risk that existing relationships with the client could be disrupted. For that reason, it is important to ensure that the additional product or service being sold to the client or clients enhances the value the client or clients get from the organization. In practice, large businesses usually combine cross-selling and up-selling techniques to enhance the value that the client or clients gets from the organization.
The numerical value of cross-selling in Chaldean Numerology is: 5
The numerical value of cross-selling in Pythagorean Numerology is: 8
Sample Sentences & Example Usage
We see many opportunities to drive revenue growth including cross-selling City National's products to RBC's clients and vice versa.
If you have a broad set of businesses with cross-selling potential then you can make local investment banking presence work, but if you are reliant on a couple of investment banking products, local presence can be costly.
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"cross-selling." Definitions.net. STANDS4 LLC, 2017. Web. 27 Apr. 2017. <http://www.definitions.net/definition/cross-selling>.