Cross selling and income streams

Cross selling is defined by the Oxford English Dictionary as

“the action or practice of selling among or between established clients, markets, traders, etc.”

or “that of selling an additional product or service to an existing customer”.

To highlight this, lets look at my favourite little Iranian stall at the Gardens Mall Food Court. It’s a simple stall run by an Iranian family. The food is simple, fresh and tasty. A lot of the customers are from the Middle East. Personally, I love their kebabs, rice and salads.

Recently, I noticed the stall started selling phone cards (with low rates to Iran and the Middle East). This is an ideal product for their customer base which will generate them extra revenue with minimal external outlay. Capital expenditure is small. They just need to purchase (maybe even on consignment) and offer the phone cards for sale. Placement was in a clearly visible area. Comparing the two products:-

1. Food products – limited lifespan, labour intensive, fluctuations in taste.

2. Phone cards – long lifespan, no labour, no fluctuation in rate and consistent quality.

Given the similar target market it would make more sense to sell this complementary product as opposed to even perhaps introducing a new dish!

The other product placed there was an Iranian magazine called Monorail. It was very focused on the Iranians in Malaysia with relevant advertisements and articles. This was probably a targeted placement by the magazine which produced a win-win for publisher and stall owner. The stall owner has a magazine for the lone diners (which attracts them thus increasing sales) and the magazine can hit its relevant target market (hence enhancing advertising sales).

This is a simple and easy to understand case on cross selling.

Key takeaways

1. Understand your target market – what do they need and are these needs being met?

2. If not – what additional value add could you give to them?

Revisit this on a regular basis and you will be surprised at your new revenue.

22 Responses to “Cross selling and income streams”

  1. Good blog, where did you come up with the knowledge in this piece of content? I’m glad I found it though, ill be checking back soon to see what other articles you have.

  2. extremely very good put up, i undoubtedly really like this internet site, keep on it

  3. Porn says:

    Great post. I be taught one thing far more challenging on completely different blogs everyday. It truly is going to always be stimulating to read content material material from other writers and apply a bit something from their store. I’d want to use some with the content material on my blog whether or not you don’t mind. Natually I’ll offer you a link within your internet blog. Thanks for sharing.

  4. wiemba says:

    I actually appreciate this post. I have been looking all over for this! Thank goodness I found it on Bing. You’ve created my day! Thanks once again

  5. I discovered your blog internet site on google and examine a number of of your early posts. Continue to preserve up the superb operate. I just extra up your RSS feed to my MSN News Reader. In search of forward to reading much more from you later on!…

  6. you could often count on search engine marketing when you desire to promote products on the net.,

  7. Emily Ball says:

    Regular monthly payments arre examined and justified. While this may seem convenient (and is) it’s removed the ability for the producer of that content to monetize it. The companies are outsourcing this job to small businesses that hire a network of home-based online workers who deliver these transcripts in quick time.

  8. I’m not certain in the event you mean which you want to write a weblog but don’t want the templates that come supplied with places like Doodlekit… or in the event you mean you would like to use the content material material from yet another blog – not written by you – in your internet site.

  9. As I site possessor I believe the content matter here is rattling fantastic , appreciate it for your hard work. You should keep it up forever! Good Luck.

  10. I simply desired to thank you so much once more. I am not sure what I could possibly have made to happen in the absence of the type of tips provided by you regarding that concern. It has been the intimidating case in my view, but viewing this well-written avenue you managed it made me to leap with gladness. Extremely happy for this information and in addition believe you comprehend what an amazing job you’re accomplishing instructing other individuals thru your web blog. Most probably you’ve never come across any of us.

  11. You completed some fine points there. I did a search on the matter and found a good number of persons will go along with with your blog.

  12. I have recently started a blog, the info you offer on this website has helped me tremendously. Thank you for all of your time & work.

  13. remodeling says:

    It’s not my first time to go to see this site, i am browsing this web page dailly and take good data from here every day.

  14. I am actually delighted to read this weblog posts which includes plenty of helpful facts, thanks for providing these kinds of information.

  15. Hence the immense market for acne related products available.

  16. Sally Bond says:

    I truly wanted to construct a word to be able to express gratitude to you for those superb points you are posting at this site. My extensive internet investigation has at the end of the day been honored with extremely good know-how to write about with my visitors. I would tell you that many of us site visitors are definitely blessed to live in a good community with very many special people with good things. I feel quite fortunate to have come across your website page and look forward to really more thrilling times reading here. Thanks a lot once more for all the details.

  17. komposithegn says:

    This is seriously serious, You’re an incredibly efficient writer. I have joined with your feed and also will enjoy finding your astounding write-ups. In addition, I’ve shared your weblog post with our social networking sites.

  18. There a couple of intriguing points in time in this post but I do not know if every one of them center to heart. You’ll be able to locate some validity but I’ll take hold opinion until I explore it further. Excellent write-up , thanks so we want more! Combined with FeedBurner too

  19. I impressed, I ought to say. Really rarely do I encounter a weblog that both educative and entertaining, and let me inform you, you’ve got hit the nail on the head. Your thought is outstanding; the problem is something that not sufficient folks are speaking intelligently about. I’m extremely pleased that I stumbled throughout this in my seek for one thing regarding this.

  20. Perfect piece of function you’ve got done, this internet site is truly cool with wonderful info .

  21. Golda Ganibe says:

    Thanks for the post.Thanks Again. Really Cool.

Leave a Reply