Mark Simpson (YouTube, Mar 9, 2024) explains how cross selling and upselling increase average transaction value using everyday supermarket displays and Amazon’s “Customers who bought this also bought”/“Frequently bought together” recommendations. He urges short-term rental owners to implement cross sells and upsells, claiming this was one of the best revenue-boosting moves for his properties.
Ever gone to the supermarket for one thing, but come away with loads of stuff you didn't plan on getting. This happens because it's very common to be tempted by items displayed near the checkout counters. It's a great example of how cross selling can be effective. Amazon provides a prime example of successful cross selling. When you shop on their website, you often see recommendations like Customers who bought this also bought or frequently bought Together. These suggestions encourage customers to add more items to their cart, ultimately increasing the average transaction value. Now let me ask you this. Are you implementing cross sells and upsells for your short term rental property? If not, you're missing out on a significant source of revenue. I can say this with confidence because implementing cross selling and upselling was one of the best things.
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