Jan 18, 2023
Editorial Content Writer
5 minutes to read
Your best customers aren’t just loyal, they’re adventurous. They’re eager to explore every aspect of your business and excited to try new products. Adventurous customers don’t just have a greater Customer Lifetime Value (CLV), they have even more reason to recommend your business to others. Furthermore, bundling an item with relevant products and offering cart-specific discounts will decrease the likelihood of comparison shopping, encouraging a customer to treat your business as a one-stop-shop.
What kind of promotion improves cross-selling and boosts sales on slow-selling product lines?
Create bundles that pair well with the product you wish to promote.
Offer bonus loyalty points for a product purchase, enhancing a customer’s experience with your business as a whole.
Offer a discount for customers based on session total: an incentive that has to be “earned” raises the perceived value of the product while also appealing to customers who have already built trust with your business.
Here’s how three very different businesses used Talon.One’s Promotion Engine to quickly build campaigns that boosted cross-selling and got their customer base to try new things:
Suggesting complimentary products doesn’t have to be about discounts alone, it also creates an opportunity to provide customers with expert guidance. By building a Talon.One campaign to bundle creative color combinations, Company A increased in-store cross-selling by +39% over previous sales campaigns. This promotion encouraged customers to branch out in a way that made sense with their intended purchases while also underlining the expertise of the brand.
Sometimes encouraging a customer to be more adventurous can be literal. Using the geofencing feature available in the Promotion Engine, Company B set geolocation points on the city map to trigger unique promotions for each rider at the end of each trip, depending on where they parked their vehicle. By carefully targeting certain areas, Company B increased bookings of underutilized scooters by +8%.
Of course, usually customers don’t need to be encouraged to literally travel to an underused service, just pointed in the right direction. After customers bought 2 of the same item from Company C, they were notified they could add a protein bar (which had not been selling as well as expected) to their shopping cart at a discounted price of €1. This bundling campaign increased Company C’s sales of this product by 44% by positioning a discount as a reward for customers already committed to buying from the company.
These may be three very different strategies from businesses in totally different industries but all were campaigns built with Talon.One’s Promotion Engine. In less advanced systems, bundling can often mean hard-coding connections between disparate products and maintaining complex lists. Talon.One’s Promotion Engine offers bundling features like dynamic building, targeting specific market segments and cart-level evaluations. Despite this rich array of features, these campaigns can be built and launched quickly without any lengthy internal development.
Talon.One’s Promotion Engine is the key to creating the hyper-personalized promotion experience that your business and your customers deserve. By using Talon.One’s rules builder, every piece of customer data you have can be leveraged to create in-depth, tailored promotions that reward customer engagement with a bespoke experience.
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