Would You Like Fries With That Burger?
Would You Like Fries With That Burger?
The craft of cross-selling.
The craft of cross-selling.
Cross-selling is all about suggesting additional items that go well with what you’re already buying, or filling an unmet need. It is a large part of modern sales tactics. Take Amazon, for example – they make over a third of their revenue this way1 with those “Customers who bought this also bought…” banners. Unlike upselling, which tries to get a person to buy a pricier version of the same product, cross-selling offers complementary items that make your purchase even better. It’s a win-win: the customer gets more value, and you get more sales.
For brokers, cross-selling presents a dual opportunity: not only does it increase sales, but it also ensures customers have comprehensive coverage tailored to their needs. By asking probing questions during interactions, brokers can uncover areas of potential need for customers, leading to cross-selling opportunities. Moreover, positioning cross-selling as a means of providing thorough coverage (rather than mere upselling) can alleviate concerns about appearing pushy, fostering trust and long-term client relationships.
Certain supplemental products, such as those parallel with Medicare plans, offer natural cross-selling avenues. Leveraging informational materials, such as our product portfolio flyer, reinforces awareness of available products and services.
Annual coverage reviews serve as opportune time to revisit coverage gaps and previously offered solutions, ensuring customers’ evolving needs are addressed regularly. Additionally, “post-purchase emails are a powerful marketing tool that can greatly increase customer engagement, loyalty, and lifetime value.”2
In 2023, more than 10% of individual Cigna Supplemental benefits customers purchased two or more products to fill in the gaps of Medicare plans. The top cross-selling product was Flexible Choice Dental Vision & Hearing followed by Lump Sum Cancer insurance then Choice Accident.3
By focusing on the holistic health of the customer, effective cross-selling not only boosts customer satisfaction and retention, but also enhances the overall value proposition for both customers and brokers alike.