cross-buying
Buying across categories
Cross-buying is when customers purchase products or services from multiple categories within the same company, rather than just one.
A bank customer who has a checking account, mortgage, and credit card with the same institution is cross-buying.
Companies encourage this behavior through bundled discounts and loyalty programs: Their cross-buying rate increased after they launched the rewards program.
Encouraging costlier purchases
- bundlingGrouping items as one
- add-onsOptional extra features
- complementaryMutually supplying lacks
- basketWoven carrying vessel
checkout · recommendations · impulse · accessories · attachments · tie-ins · merchandise · shopping cart
Ongoing preference for one seller
- segmentationDivision into sections
- personalizationTailoring to individual needs
- targetingSelecting as objective
- analyticsSystematic examination of datasets
CRM · customer journey · conversion · engagement · acquisition · recommendation engine · campaign · affinity
Contractual risk coverage
- bankingFinancial institution transactions
- wealth managementOverseeing affluent clients' finances
- portfolioCollected works or assets
- servicesActs performed for others
accounts · products · financial planning · loans · investments · credit cards · mortgages · retention
Greek warrior women
- recommendationsProposed courses of action
- algorithmsFinite instruction sequences
- online shoppingInternet-based retail activity
- personalizedAdapted for an individual
browsing history · marketplace · click-through · conversion rate · customer reviews · wishlist · comparison shopping · related searches
upselling
Encouraging costlier purchases
- bundlingGrouping items as one
- add-onsOptional extra features
- complementaryMutually supplying lacks
basket · checkout · recommendations · impulse · accessories · attachments · tie-ins · merchandise · shopping cart · ancillary
customer loyalty
Ongoing preference for one seller
- segmentationDivision into sections
- personalizationTailoring to individual needs
- targetingSelecting as objective
analytics · CRM · customer journey · conversion · engagement · acquisition · recommendation engine · campaign · affinity · customer database
insurance
Contractual risk coverage
- bankingFinancial institution transactions
- wealth managementOverseeing affluent clients' finances
- portfolioCollected works or assets
services · accounts · products · financial planning · loans · investments · credit cards · mortgages · retention · consolidated
Amazon
Greek warrior women
- recommendationsProposed courses of action
- algorithmsFinite instruction sequences
- online shoppingInternet-based retail activity
personalized · browsing history · marketplace · click-through · conversion rate · customer reviews · wishlist · comparison shopping · related searches