As a store owner you know there is nothing more important than growing your revenue, but just what can you do in order to boost revenue? More traffic to your website must mean higher conversion rates, right? Well not always, the reality is that more traffic does not always mean more sales. However a good way to increase sales is through upselling and cross selling your products The guys at QuickSprout have created this stunning inforgraphic to explain how you can boost revenue through upselling and cross selling.
Some of the data:
According to Forrester 10-30% of ecommerce site revenue comes from product recommendations. In 2006 more than 35% of the revenue for Amazon were directly related to cross-sell/upsell. If customers have a choice between buying two products individually or together in a bundle, they are much more likely to purchase the bundle. Showing higher priced cross-sells can increase sales by 20x more than standard recommended products.