Customer relationship management tools are very important for businesses. A company which can effectively use a CRM for selling practices can benefit greatly from prevailing market trends. But CRMs are not just meant for basic selling activities. You can actually benefit a lot from other lesser used or subsidiary selling tactics. These include upselling and cross-selling which can add a lot of value to your overall quarterly and yearly turnover. If you are wondering how a CRM can help you achieve high upselling and cross-selling:
5 Methods for Upselling and Cross-Selling Through CRM
1. Popular Options
The first and foremost thing that you can do in your CRM is keep a running tally of the most popular travel packages. Whether you’re cold calling or addressing inbound queries, you will need this list of popular options to upsell. They can also be used to cross-sell because they appear as very beneficial once you make a strong sale to client. Of course, both upselling and cross-selling depend on the direction of the seller. This is important because the seller’s instinct matters the most. If they do not feel the client will take up the offer or may go away, then they are better off not pushing for higher packages.
Ideally, popular options should be an integral part of your overall selling process. The best CRMs will allow you to modify your interface or otherwise draw from a database on the most popular options in your travel market. Otherwise, you can simply maintain a manual or physical copy of the popular options list while you make calls. In both cases, the CRM that you will be using to make the sales will matter the most. So, you should choose one which serves all your needs.
The best travel agencies worldwide always have a travel CRM which can help them create the sales volumes they want. Using popular options to upsell and cross-sell is a smart tactic for getting more sales. Also, it can enhance the overall sales experience for clients which will bring more business and value in the longer term.
2. Contact Management
Working in a market is all about understanding the trends and patterns present in it. Whether you are a long term player or someone new in the market, you need to connect the dots and get a larger market picture. The best way to do this is to manage contacts with a view of the market. When you have an on-season for travel packages, you can correlate your recorded sales with a demographic. You can go at this by annual earnings, destination preference, cross-selling options taken etc. This will substantiate your future selling activities in the right way.
Contact management can also help you derive more business from your clients. For example, if you are selling in the B2B market, then you can give group packages to companies. You can use your own contacts to provide details to clients over packages others have purchased. This is provided you adhere to all client privacy laws and agreements with third-parties. Providing this information can help in upselling and cross-selling, even through reviews and references.
For every sales executive, the best way to use contact management for upselling and cross-selling is to focus on specific segments. A manager can section their client contacts such that sales executives specialize in specific domains. This will help them develop familiarity with market trends and also ensure they do not miss out on opportunities. Now, if you have a larger team, then you can further specialize micro teams to address specific markets.
3. Client Profile
Creating client profiles is an integral part of running a travel company and achieving success. You need to create profiles and substantiate them with any packages they have taken up. Doing this will help you understand how to cater to clients in the right way. As a business, your travel agency needs to ensure that your clients can get the services they need. The best way to do so is to simply retain all transactions made with the client. The previous choices made by the client will help you pitch more lucrative packages and achieve higher revenues. Client profiles can also be pooled together to understand buying patterns. This can help in cold calling based on demographical specifications.
New clients can also get pitches from your sales executives based on what they like to go for. As a sales executive, your employees can get the maximum value from the client. This requires more adaptive intuitiveness since they need to know how to sell to different clients. Now, if they have the demographical data from the particular niche the client belongs to, then they can base their selling offerings on pre-existing data from the niche. Informing clients of upcoming offers and personalizing packages can really enhance your overall business reputation in the market.
If you will be using social media and online advertising, then you can create even more robust client profiles based on advertising data. This will help your company make more rewarding cold calls and achieve a better market standing without spending too many resources.
4. Market Packages
Competitive package pitching is an important part of making your own presence in the market. As a business, you get the best value from the client base if you can pitch profitable packages. So, the answer between sales volume and sales revenue lies in managing the margin. For most travel agencies, upselling can be risky because it lowers the chances of clients making the purchase. However, if you upsell within the margin or cross-sell to enhance the overall value of the package for the client, then everyone makes the most of it.
Market packages are a good way to know how well your packages are lined up. Of course, a lot goes into determining the profit margin on a travel package. However, for the purposes of upselling and cross-selling, the sales executives need CRM functions to validate their pitches. All of this is best done through an integrated database which can display prominent packages in the market. Having this knowledge can help them sell within the margins where they can make a successful sale. This will ensure your business offers competitive market packages instead of outpricing itself while try to upsell.
Market packages can become integral to the database of the CRM you use. Further, you can use the CRM to develop training modules where new sales personnel can use existing packages to probe client willingness. This will help in the overall development of the company.
5. Special Offers
Special offers give companies a great chance to upsell to clients. However, the key is to know how and when to place them. Making special offers to existing clients is much easier and your CRM database will provide the intel your sales executive needs. With newer clients, you will need to use the CRM to correlate their potential interests based on their demographic. So, conducting research on them and their niche at large is very important. This will help you make the best special offers and pitches before the client puts down the phone.
Ideally, the CRM should also offer reports which showcase the performance metrics of clients package purchases from that niche. It will help your sales execs pitch the most likely special offers to make the perfect sales. Further, the execs can use the CRM to record the calls and backtrack to understand how to optimize their selling process. This will help in upselling and cross-selling through the CRM to clients you wish to target.
Where Can You Get the Best Travel CRM?
TutterflyCRM is one of the best and most high-performance CRMs in the market. It offers businesses a wide range of options and features which they can use to achieve the success they are striving for. As a company, your objective is to process sales by the volume and get customer relationships which can serve as your market foundation. TutterflyCRM can help you achieve this business objective with ease through its excellent cross-module performance factors. These will enable smoother collaboration, faster sales and more effective overall customer account management. Request a free demo now!