Improve your business by 10 % – 30% with effective upsell cross-sell Campaigns using LYTTY customer engagement strategies! Welcome back to “Lytty” - The simple to use but comprehensive Customer Engagement and analytics platform for Retail businesses!
Now that you have seen the way LYTTY is helping aspiring Retailers improve visibility and customer retention you must be really excited to know what else LYTTY can do for retail businesses.
We were talking about the real-time example of a Retail business that deals in Hair care products. We have already considered the first strategy of “Delighting The customer”. Now we will see how you can build a strategy around understanding your customers better. Apart from that we discussed the strategy around understanding your customers better with the Customer 360-degree feature.
Now let's check out another interesting customer engagement strategy which is utilising Upsell and Cross-sell opportunities to improve the business volume.
Upselling refers to a sales technique that involves offering a superior version of a product that either a customer already owns or is already purchasing. This superior version may be a higher-quality model of the same product, or it may include additional features that increase the value of the product.
Cross-selling is the tactic of promoting products that are related to the item a customer is already purchasing or owns. These items may be from distinct product categories but are complementary in nature. It’s more like offering socks to accompany a shoe purchase or batteries to power a wall clock.
LYTTY - Retail Customer Engagement software can help you create upselling and Cross selling campaigns with its inbuilt Retail Analytics and Artificial intelligence tool. If you use LYTTY, you can connect multiple stores under one account, and your dashboard will automatically display your top-selling products. As a personalised marketing platform LYTTY will help you select the most suitable products for upselling and cross-selling. The basis of this selection will be the purchasing behaviour and other parameters analysed from the entire historical data of your organisation.
LYTTY presents not just the associated products on the screen but also more expensive versions of the item. Added features can be highlighted here to convince the customer and the direct contact staff will be able to provide good suggestions or recommendations with all the specifications.
LYTTY analytics employs recommendation engines that utilise powerful technology backends to analyse data from the past few years. By examining customer purchase patterns, the engine can identify product groupings that are commonly bought together, like for instance Hair Care oil and Hair dryer. It’s been found that nearly 70% of the people who bought Hair Care oil, also purchased a Hair dryer along with that. This information can be used to facilitate cross-selling of multiple products. The accuracy of the recommendation engine in achieving this goal is estimated to be over 80%.
Utilising the LYTTY customer engagement platform allows you to analyse your customers' buying habits and obtain regular recommendations for multiple upselling and cross-selling opportunities. After identifying these opportunities, retail businesses can create targeted marketing campaigns and notify the selected customer segment through SMS, email, or WhatsApp campaigns. By making use of these pre-designed or customisable workflows and customer insights, your retail business can implement an effective customer retention strategy and improve your overall revenue. Putting into practice these strategies can increase repeat orders by up to 50-60% and result in a significant improvement in customer satisfaction.
Send us a mail to sales@ lytty.com to know more.
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