Know what can be significantly easier than prospecting and selling to net new customers? Selling to the customers you already have. After all, existing customers are 50% more likely to try new products and spend 31% more when compared to new customers.
By cross-selling products to customers who don’t yet have your full suite of offerings, or upselling additional features, services, capacity or solutions, you can achieve more sales with less marketing and sales investment.
By leveraging the power of Market and Sell together, organizations can seamlessly build and run cross-sell and upsell campaigns across a number of different channels and strategies, including landing pages, email campaigns, social media, online and in-person events, coordinated sales reach-out events, and more.
With Market and Sell, it’s easy to expose all marketing activities as well as customer reactions to the sales team so they can act on marketing information customers have received. For example, when you send an email in Market – Sell creates a Campaign in its Campaign module; building a landing page means those leads go into "Landing Pages & Forms" module; and event registrations go into the Sell "Events" module.
All this Market data can be pushed into Sell—not only for viewing—but also cross-platform reporting, including any custom fields that are being used.
A practical, SugarCRM-centered example scenario of a cross-sell campaign could be as follows:
- Based on guidance from leadership, internal SugarCRM cross-functional teams decided they want to educate Sell customers (who don’t already have the solution) on the benefits of Sugar Serve.
- The cross-functional team plans to run a “Shark Week” with sales team members to contact current Sell customers and speak with them about the benefits of the full SugarCRM platform—and why it would be beneficial to add Sugar Serve, in particular.
- The SugarCRM marketing team gets busy on its end setting up a landing page with information about Serve to which sales can direct interested prospects. These prospects have the chance to sign up for a webinar for more information on the Sugar Serve solution.
- The webinar leads and data are shown to the Shark Week sales reps via Sell. This alerts the sales team members that these cross-sell customers are interested in learning more.
- Meanwhile, Sell is also tracking any calls or emails the sales team has with clients, alongside the marketing data, in the Sell Timeline dashlet.
- After the webinar, attendees are encouraged to speak more with the sales rep or account manager using an automated Market nurture email with which they are paired.
- The shared information helps them feel comfortable moving forward with the purchase of Serve, expanding their use of the SugarCRM platform.
There are many more steps that would be involved in such a campaign, of course. Marketing might promote the event via social media and ask sales to amplify the event using Sugar Market’s Oktopost integration, for example. Or, perhaps the teams prefer a more Account Based Marketing (ABM) approach and target specific customers based on the data they find using Sugar Sell’s dashboards, reporting, and built-in AI features.
Cross-sell and upsell campaigns are a great way to close out your end of year revenue goals or start the new year out right. How is your organization using Market and Sell to achieve your objectives?