In our previous article, we tackled what cross-selling is and how it can help increase e-commerce AOV. We've also given some common cross-selling strategies many e-commerce businesses use. But now, we're going to dive deeper and explore more cross-selling strategies that you can try.
Loyalty Programs
Another way to use cross-selling strategy is to introduce a loyalty program. But of course, this strategy only works if you already have loyal customers.
A loyalty program is an effective way to increase basket size and average order value. To build a loyalty program, you must first decide which of your products is to be rewarded.
You can also make a co-branded loyalty card. However, this will require you to find a good partner who can give you enough value for your customers.
Loyalty programs can be set to a period of time or lifetime. It's also important to note that a lot of e-commerce businesses have been offering rewards that do not require a purchase to qualify for. These rewards include discounts, free shipping, and others.
By using a loyalty program, you can help encourage repeat visits from your customers. If you have more loyal customers, you can help them stay longer and buy more.
You can also take advantage of a loyalty program to track your customers' behaviours. By doing so, you will know what they like and what they don't.
Personalised Marketing Communications
Personalised marketing communications are another cross-selling strategy that businesses can implement. This strategy is quite different from email marketing. Email marketing is to promote products while using personalised marketing communications to focus on a specific person.
With personalised marketing communications, you'll know the most effective way to communicate with your target customers.
You can personalise your marketing communication by:
Using customer data to create a segment for your marketing communication. It'll be more effective if you can segment your target customers by their purchase history, search behaviour, site activity, demographics, and more.
Creating content that will be relevant to your target customers. For example, if you're targeting women, you should create marketing communication that is relevant to them.
Predictive Analytics
Predictive analytics is another cross-selling strategy that e-commerce businesses can benefit from. With predictive analytics, you'll be able to predict your customers' product preferences and what will be their next purchase. By doing so, you can place the right products in front of them. For example, if somebody buys a Kindle, it's likely that they'll be interested in e-books.
With predictive analytics, you can create a more customer-centric marketing strategy. By doing so, you'll be able to increase e-commerce AOV by better serving your customers' needs.
Predictive analytics are being used by leading e-commerce businesses such as Amazon. Amazon uses predictive analytics to help customers make a purchase. For instance, it uses predictive analytics to determine which products are more likely to be bought by a customer who recently bought a gift card. If the customer likes the product, they'll likely make a purchase.
Final Thoughts
When we talk about cross-selling strategies, we often talk about a general cross-selling strategy. However, you don't have to use one cross-selling strategy. You can use a combination of these strategies to help you increase your e-commerce AOV. Cross-selling is not just about increasing e-commerce AOV. It's also about turning your customers into loyal customers.
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