What it is: Cross-selling refers to selling additional products or services to existing customers by identifying related or complementary offerings.
Why it is important: Cross-selling can increase customer lifetime value, enhance customer satisfaction, and generate additional revenue. It is often more cost-effective than acquiring new customers.
How to use it in startups: Startups can identify cross-selling opportunities by analyzing customer behavior, preferences, and purchase history. By offering complementary products or services, startups can increase sales, improve customer loyalty, and maximize revenue from existing customers.