Cross selling is a smart sales and marketing tactic used by businesses to boost customer satisfaction and make more sales. Cross selling is all about recommending additional products or services that fit perfectly with what customers already want or need.
So, how does cross-selling work in practice? It can be as simple as a friendly retail cashier suggesting an extra item that goes hand in hand with what you’re buying—like batteries for that new flashlight. In online shopping, you’ve probably seen those, “Customers who bought this also bought…” or “Frequently bought together” recommendations. And in the financial world, it might mean offering insurance or a credit card when you open a bank account.
No matter the industry, successful cross selling is all about understanding what customers want and then making helpful suggestions that benefit everyone involved. The goal is to make your shopping experience even better while also increasing revenue for the business.
Below, we’re sharing 19 interesting statistics about cross selling that any business can benefit from.
19 interesting cross selling statistics
General Cross Selling Statistics
- It can cost businesses 5xs more to get a new customer than to retain an existing one, making cross-selling important for customer retention according to Invesp.
- Evolved Contact shares that positive cross-selling may lead to increased customer loyalty.
- Just under 50% of consumers have admitted to making an impulse purchase following a recommendation according to a LinkedIn study.
- Personalized recommendations are one of the most effective cross-selling techniques, with a 35% increase in sales when recommendations are based on customer data according to Gitnux.
- A recent study by McKinsey & Company stated that only about 15% of customers are receptive to cross-selling efforts.
Cross Selling Revenue Statistics
- As recently as 2020, 80% of e-commerce businesses in the U.S. reported using cross selling tactics to increase sales according to Gitnux.
- Hubspot shares that companies implementing cross selling strategies have seen an increase in revenue of up to 30%.
- Cross selling can be up to 20 times more effective than upselling when it comes to increasing growth in your revenue according to Gitnux.
- According to Gitnux, cross selling can boost revenue by as much as one third.
Cross Selling Statistics and Customers
- Twilio’s State of Personalization report shows that 80% of businesses said personalization could increase customer spending by 34%.
- 44% of online shoppers say they’re likely to repeat a purchase from an online retailer offering personalized product recommendations according to Ninetailed.
- eduMe states that upselling at checkout can increase revenue by as much as 30%.
- Display Mode shares that 70% of in-store shoppers have made unplanned purchases due to cross-selling or upselling efforts.
- Over 50% of shoppers say they appreciate it when a retailer suggests products based on their preferences according to Salesforce.
- A survey by CEB shares that 85% of customers are unlikely to respond to cross selling requests that are irrelevant to their needs.
Cross Selling and Sales and Marketing Professionals
- According to B2, 37% of marketing professionals shy away from upselling and cross-selling.
- As recently as 2021, 60% of salespeople used cross-selling tactics according to Shopify.
- Nearly 90% of online customers have shared that free shipping motivates them to make additional purchases according to Invesp.
- 56% of customers share that direct home delivery is one of the primary reasons they’re willing to buy more in the online space.
Cross selling is a key strategy for businesses aiming to increase revenue, strengthen customer relationships, and improve operational efficiency. It’s all about boosting sales and profitability, while also enhancing customer satisfaction and loyalty. By truly understanding customer needs and preferences, and providing meaningful cross selling recommendations, businesses can achieve sustainable growth and create long-lasting value in today’s competitive marketplaces.