Cross selling is something all successful business does.This not only helps the businesses to earn more revenues but also helps to create a chance for multiple customer interactions which increases loyalty towards the brand.

you can see many banks offering insurance.they call it as bancassurance.The banks cannot offer insurance.But they prefer to cross sell insurance to their clients because banks know better than anyone else on who has more money in their accounts.

Amazon,the largest e-tailer in the world earns a predominant  revenue thru cross selling.When you try buying anything from amazon it recommends some other products related to what you bought which increases their sales multifolded.

Almost all online stores adopt this format.

Cross selling is selling a product or service which the company does not manufacture/manage or a new line extension of the same company,where target clients for the products/services are same.Normally companies who has extensive user base adopt this cross selling model to milk their customer base in order to generate more revenue without making their clients feeling that they are getting taxed.

the same is appliicaple for makemytrip selling hotels,taxies,railway tickets and tour packages.MMT was started only for airline booking.but to increase revenue they started offering the other services.

Cross selling can also be used effectively to promote a new brand or a new variant of the same company.When you buy coffee powder of a popular brand you will get sugar of a new brand at a subsided cost.this can be also called as cross selling.anyone who buys coffee powder also needs sugar.by putting both in a combo the new brand get the user experience which helps the new brand getting its own mileage over a period of time.

Cross selling can be done only when the target segments of both the products are same.or else it can be proven as a disaster.

Cross selling can be adopted only by organisations who has large customer base.Companies who serves niche market should never cross sell as it makes their clientele irritated.

Will be happy if some of you identify any cross selling models which is prevailing or which is known to your goodselves.

Cheers!!!

We all are great Perceivers!!!

Any success of a product or service is only defined by the perception it creates in the market.many of us think that a product or service is successful only because of quality,uniqueness,pricing etc.,but on the contrary those companies are very successful in making us believe that they are the best in quality,uniqueness and pricing.It is not the actual reason which makes that product or services having the winning edge its only the perception that get created in the market.

To eloborate it let me take the example of japanese car makers and american car makers.it has been widely perceived in US that japanese cars are the best.Honda Out numbers the sales of any other car makers in US.But if you go to japan and see,Honda is successful only in two wheelers market.

if  you tell in japan that “Im owning a HONDA”People there may think you are owning a Motor cycle.But if you say the same sentence in US they will ask “what model it is an Accord or Civic?”

Do you think Honda uses two different technologies for Japan and US??

Or a premier Service option for US Market and a Down graded Option for japan Market??

ITS ALL PERCEPTION!!!!

Honda is very successful in creating a perception in the minds of US Pple that they are the best where as they failed to create the same in japan Market.

Same you can see in indian markets too.Reliance india Mobile when they launched they offered their Connection with handsets for Rs.501.This has created a perception in the people’s mind that reliance Mobile is affordable.

If you carefully notice the plans and charges of other operators they are neck to neck.But reliance has that winning edge because they are very successful in creating the perception in that market that they are the most affordable Mobile service provider in india.

That perception is carrying their business still.For many pple who wnt to try the mobile services Reliance is their first option.

Same is applicable to Maruti.Eventhough Hyundai  and TATA Motors are competing with neck to neck,Maruti has that winning edge.

people perceivedthat Maruti is an affordable car with all essential amenities.Still For many car owners their first car is Maruti.

There are side effects for perception too.Eventhough Reliance garnered majority Market share,for elite users reliance is not a prefered one because of their perception.Elite users think Reliance is Common Man’s Brand.How So ever Reliance updates their technology and offer High End Services,because of the perception it created in the market there were no much takers on the elite circle for reliance.

Same for Maruti,Maruti 800 is a run away success.but the perception which created the success curtailed maruti from launching High end models.Maruti tried with SX4 and some other models.But they failed to compete with others not because of quality,Pricing or service but ONLY BECAUSE OF THE PERCEPTION they created in the market for their brand.

So,for any successful business it is very important to create a perception in the minds of the people and while creating the perception be aware of the above facts in order to make it more successful!!!

Cheers!!!

You need to be a Leader in order to be a winner!!!!!!

In  other words you can call it as first mover advantage.by any chance if you are not the first mover in that particular product segment/services category what could be done????

before answering this question i want to ask you some other questions

1.How many of us know the following:

the second person to land in moon after Amstrong?

the second company to go public after reliance in india?

the second finance minister of india?

the second foreign company to invade india after East Indian company?

the second company selling adhesive after fevicol?

the second company to sell Copying machines after Xerox?

Do you understand anything from the above questions???if you are the first to offer the service in that particular category you have the first mover advantage and theres no need for you to tell why your company is best in offering that particular product or service.instead you can simply promote why that particular product or service is essential and why they need to use it.

Does any one of you know that theres a brand called next in computers which was owned by APPLE?They had all technologies,marketing ideas and above all great funding options to make it as a successful brand.but what they missed is the first mover advantage.they launched Next after IBM launched IBM Machines.it is not possible for APPLE to establish what Next is specialised or first at?Even now if you type next.com it will go to apple .com.they scrapped the complete business.

But APPLE is selling computers like anything now a days and more or less its a prestige symbol or personality attribute for one to have any apple products.How he managed to do it.

Steve realised unless he can differentiate himself to prove the market that APPLE is the first mover things are not going to work for him.He first created an operating system for his machines and he started building machines only for his operating system.If any one wants to use Mac O/S they can do it only by buying an APPLE PC.

Same is applicable to IPod,Iphone and now IPad.

The Art of Leadership-Apple Logo

They all are market leaders in their own segments.when the whole market got flodded with MP3 Players Apple introduced IPod with an altogether Diff Technology which connects not only to system but also to internet and with a digital sound quality.

So,if you want to be a Market leader,Try to be the First in that category or by any chance if you are not first pls create a category where you can tell you are the first in that category!!!!!!!!! It works and It  Only works!!!

Try experimenting it.

Post your views on the above.