Cross-selling & Upselling Analytics
If you click on the cross-selling cards, a re-ordered list of customers will appear, together with an analysis header and an expanded visualisation.
Qymatix Cross-Selling analysis is performed using an advanced arithmetical ad-hoc clustering function combined with a market-basket analysis. With the result of this algorithm, you can quickly understand which customers can buy more, or have more cross- and up-selling buying potential.
In the first visualization of the cross-selling view, you can analyse your customers based on their relative margin, the total revenue and the cross- and up-selling potential. You can zoom and click in each customer for more details.
Below the first cross-selling visualisation Qymatix provides you with a list of your customers based on its buying potential. Sorting your customers by cross and up-selling potential enables you to dig deeper into your customer analysis. You can search your clients and expand each of them. Each card also shows the sales activities performed on the customer.
Why is cross-selling important?
Why is this function useful? Because assuming you have limited sales resources, it is a sensible idea to focus your first actions on those customers with higher buying potential.
It is a known fact, that it usually cost five times more to acquire a new customer, compared to selling to an existing one. To accelerate sales growth, sales leaders should first look for growth opportunities with existing products in existing buyers. Furthermore, there are some 60 to 70 % chances of closing a deal with a current client, versus a 5 to 20 % of closing a new customer sale.
Qymatix Expert Tip: To accelerate sales growth, look for sales opportunities with existing products in existing buyers.
Cross-selling and up-selling details
If you click on a customer card or a customer visualisation, a third layer of customer analysis will offer you a detailed overview of the status of that individual customer. This comprehensive report includes, for example, the products and products families each customer could be buying.
Do not waste resources offering each customer all possible products. Focus on those with higher probabilities of being bought. Remember, when it comes to successful sales operations, the focus is critical.
That is why you will also find only the most relevant information, together with a trend indicator. As a standard analytics application, here you will discover KPI such as sales growth, margin per customer, the number of sales plans and sales activities compared to the average across all your clients.
Once you have you have studied the current situation of an account, you can directly create a sales plan from this view. A sales plan or sales opportunity represents a specific set of tasks you or someone in your team needs to undertake to improve or tackle the results of these advanced sales analytics. Remember: analytics without action will not bring you positive results.
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